Agnico Eagle Mines Limited $AEM Position Cut by Mackenzie Financial Corp

Mackenzie Financial Corp lessened its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 4.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,354,827 shares of the mining company’s stock after selling 423,449 shares during the period. Agnico Eagle Mines accounts for about 1.7% of Mackenzie Financial Corp’s holdings, making the stock its 9th biggest position. Mackenzie Financial Corp’s holdings in Agnico Eagle Mines were worth $1,406,894,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Capital World Investors lifted its holdings in Agnico Eagle Mines by 20.0% in the third quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock valued at $3,497,470,000 after acquiring an additional 3,462,968 shares during the period. Vanguard Group Inc. boosted its stake 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 during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Agnico Eagle Mines by 5.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,712,397 shares of the mining company’s stock worth $1,974,242,000 after buying an additional 602,489 shares in the last quarter. TD Asset Management Inc grew its stake in Agnico Eagle Mines by 1.5% in the 3rd quarter. TD Asset Management Inc now owns 9,500,193 shares of the mining company’s stock worth $1,600,436,000 after acquiring an additional 143,645 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in Agnico Eagle Mines by 38.8% in the second 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 during the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Trading Up 1.0%

NYSE:AEM opened at $227.05 on Wednesday. The stock has a fifty day simple moving average of $209.71 and a 200 day simple moving average of $179.94. The firm has a market capitalization of $113.76 billion, a price-to-earnings ratio of 25.57 and a beta of 0.61. Agnico Eagle Mines Limited has a 1-year low of $94.77 and a 1-year high of $255.24. The company has a quick ratio of 1.33, a current ratio of 2.02 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.13. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter last year, the business posted $1.26 EPS. Agnico Eagle Mines’s revenue for the quarter was up 60.3% on a year-over-year basis. Sell-side 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 declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 0.8%. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Monday, March 2nd. Agnico Eagle Mines’s payout ratio is presently 20.27%.

Analyst Ratings Changes

AEM has been the subject of several research analyst reports. Raymond James Financial restated an “outperform” rating and set a $225.00 price target on shares of Agnico Eagle Mines in a research note on Wednesday, January 14th. Erste Group Bank upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Thursday, March 5th. Zacks Research raised Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Weiss Ratings cut shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a report on Monday, January 12th. Finally, Canadian Imperial Bank of Commerce set a $296.00 price target on shares of Agnico Eagle Mines and gave the company an “outperform” rating in a report on Wednesday, February 4th. Four research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Agnico Eagle Mines currently has an average rating of “Buy” and an average target price of $234.91.

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.