Agnico Eagle Mines Limited $AEM Shares Sold by Erste Asset Management GmbH

Erste Asset Management GmbH decreased its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 11.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 134,979 shares of the mining company’s stock after selling 18,124 shares during the period. Erste Asset Management GmbH’s holdings in Agnico Eagle Mines were worth $23,061,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Agnico Eagle Mines during the second quarter valued at approximately $938,644,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of 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 buying an additional 2,319,131 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Agnico Eagle Mines by 48.3% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,528,022 shares of the mining company’s stock valued at $538,506,000 after buying an additional 1,474,385 shares in the last quarter. Invesco Ltd. lifted its position in shares of Agnico Eagle Mines by 53.1% during the 2nd quarter. Invesco Ltd. now owns 4,164,046 shares of the mining company’s stock valued at $495,230,000 after acquiring an additional 1,444,746 shares during the last quarter. Finally, Picton Mahoney Asset Management bought a new stake in shares of Agnico Eagle Mines during the 2nd quarter worth $134,059,000. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Price Performance

NYSE AEM opened at $246.52 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.02 and a quick ratio of 1.33. The firm has a market capitalization of $123.51 billion, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 0.56 and a beta of 0.63. The company has a 50 day simple moving average of $200.92 and a 200-day simple moving average of $173.82. Agnico Eagle Mines Limited has a 52-week low of $92.11 and a 52-week high of $246.78.

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 net margin of 37.47% and a return on equity of 18.09%. The firm had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same quarter in the prior year, the business earned $1.26 EPS. The company’s revenue for the quarter was up 60.3% compared to the same quarter last year. Equities research analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.7%. 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 dividend payout ratio (DPR) is currently 18.02%.

Analysts Set New Price Targets

AEM has been the topic of a number of recent analyst reports. Weiss Ratings lowered Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research report on Monday, January 12th. Scotiabank reaffirmed an “outperform” rating and set a $280.00 price objective on shares of Agnico Eagle Mines in a research note on Tuesday, February 17th. UBS Group reiterated a “neutral” rating and issued a $240.00 target price on shares of Agnico Eagle Mines in a report on Friday, January 30th. 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. Finally, Erste Group Bank lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $234.91.

Agnico Eagle Mines 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.