Jupiter Asset Management Ltd. Buys 30,473 Shares of Agnico Eagle Mines Limited $AEM

Jupiter Asset Management Ltd. raised its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 6.3% in the third quarter, Holdings Channel reports. The institutional investor owned 517,939 shares of the mining company’s stock after buying an additional 30,473 shares during the quarter. Agnico Eagle Mines accounts for about 0.7% of Jupiter Asset Management Ltd.’s holdings, making the stock its 28th biggest position. Jupiter Asset Management Ltd.’s holdings in Agnico Eagle Mines were worth $87,254,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Agnico Eagle Mines by 1.2% during the third quarter. Vanguard Group Inc. now owns 20,669,949 shares of the mining company’s stock valued at $3,481,382,000 after acquiring an additional 252,043 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Agnico Eagle Mines by 5.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,712,397 shares of the mining company’s stock valued at $1,974,242,000 after purchasing an additional 602,489 shares during the last quarter. Mackenzie Financial Corp increased its stake in Agnico Eagle Mines by 1.9% during the 2nd quarter. Mackenzie Financial Corp now owns 8,778,276 shares of the mining company’s stock valued at $1,046,468,000 after purchasing an additional 160,650 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Agnico Eagle Mines by 38.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 8,296,796 shares of the mining company’s stock valued at $987,398,000 after purchasing an additional 2,319,131 shares in the last quarter. Finally, Norges Bank purchased a new position in Agnico Eagle Mines in the second quarter worth about $938,644,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on AEM shares. Royal Bank Of Canada cut shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and increased their price target for the company from $185.00 to $205.00 in a report on Wednesday, December 10th. Wall Street Zen cut Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 31st. UBS Group reissued a “neutral” rating and issued a $240.00 target price on shares of Agnico Eagle Mines in a report on Friday, January 30th. Jefferies Financial Group set a $189.00 price target on Agnico Eagle Mines in a research note on Sunday, December 7th. Finally, Citigroup increased their price objective on Agnico Eagle Mines from $198.00 to $256.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $234.91.

Agnico Eagle Mines Stock Performance

AEM stock opened at $224.34 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.02 and a quick ratio of 1.31. Agnico Eagle Mines Limited has a 1 year low of $92.11 and a 1 year high of $225.00. The company has a market cap of $112.40 billion, a P/E ratio of 25.26, a price-to-earnings-growth ratio of 0.51 and a beta of 0.63. The stock’s fifty day moving average price is $193.72 and its 200-day moving average price is $170.16.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.13. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.40 billion. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.Agnico Eagle Mines’s revenue was up 60.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.26 earnings per share. On average, equities analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.8%. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.40. The ex-dividend date is Monday, March 2nd. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 18.02%.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.