M&G Investment Management Ltd. reduced its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 132,362 shares of the mining company’s stock after selling 3,880 shares during the period. M&G Investment Management Ltd. owned approximately 0.05% of Agnico Eagle Mines worth $7,688,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of AEM. Norges Bank purchased a new position in Agnico Eagle Mines during the fourth quarter worth about $162,762,000. Manning & Napier Group LLC purchased a new position in Agnico Eagle Mines during the first quarter worth about $42,860,000. AGF Investments Inc. raised its holdings in Agnico Eagle Mines by 217.0% during the fourth quarter. AGF Investments Inc. now owns 941,750 shares of the mining company’s stock worth $66,283,000 after purchasing an additional 644,642 shares in the last quarter. Van ECK Associates Corp increased its holdings in Agnico Eagle Mines by 3.4% in the fourth quarter. Van ECK Associates Corp now owns 13,560,946 shares of the mining company’s stock valued at $956,182,000 after buying an additional 440,024 shares in the last quarter. Finally, Morgan Stanley increased its holdings in Agnico Eagle Mines by 36.4% in the fourth quarter. Morgan Stanley now owns 1,183,912 shares of the mining company’s stock valued at $83,477,000 after buying an additional 316,228 shares in the last quarter. 60.88% of the stock is owned by hedge funds and other institutional investors.
AEM has been the subject of a number of research analyst reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $115.00 target price on shares of Agnico Eagle Mines in a report on Thursday, March 18th. TheStreet raised shares of Agnico Eagle Mines from a “c+” rating to a “b-” rating in a report on Thursday, May 13th. National Bank Financial reaffirmed an “outperform” rating on shares of Agnico Eagle Mines in a report on Friday, April 23rd. Zacks Investment Research raised shares of Agnico Eagle Mines from a “sell” rating to a “hold” rating and set a $74.00 target price for the company in a report on Monday. Finally, Raymond James increased their price target on shares of Agnico Eagle Mines from $76.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Agnico Eagle Mines presently has a consensus rating of “Buy” and an average target price of $86.50.
Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, April 29th. The mining company reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.11. Agnico Eagle Mines had a net margin of 19.68% and a return on equity of 10.11%. The firm had revenue of $934.39 million for the quarter, compared to analyst estimates of $888.95 million. Analysts anticipate that Agnico Eagle Mines Limited will post 2.61 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Tuesday, June 1st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, May 28th. This represents a $1.40 dividend on an annualized basis and a yield of 1.93%. Agnico Eagle Mines’s dividend payout ratio (DPR) is currently 29.57%.
About Agnico Eagle Mines
Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Sweden, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.
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