Russell Investments Group Ltd. Sells 25,648 Shares of Agnico Eagle Mines Limited $AEM

Russell Investments Group Ltd. trimmed its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 7.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 307,841 shares of the mining company’s stock after selling 25,648 shares during the quarter. Russell Investments Group Ltd. owned about 0.06% of Agnico Eagle Mines worth $51,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Fort Sheridan Advisors LLC acquired a new position in Agnico Eagle Mines in the third quarter valued at approximately $295,000. Diversify Advisory Services LLC increased its stake in shares of Agnico Eagle Mines by 6.5% in the 3rd quarter. Diversify Advisory Services LLC now owns 6,556 shares of the mining company’s stock valued at $1,065,000 after acquiring an additional 398 shares in the last quarter. Rathbones Group PLC lifted its position in shares of Agnico Eagle Mines by 1.7% during the 3rd quarter. Rathbones Group PLC now owns 53,905 shares of the mining company’s stock valued at $9,082,000 after acquiring an additional 877 shares during the period. Regal Partners Ltd lifted its position in shares of Agnico Eagle Mines by 18.0% during the 3rd quarter. Regal Partners Ltd now owns 168,922 shares of the mining company’s stock valued at $28,473,000 after acquiring an additional 25,764 shares during the period. Finally, CreativeOne Wealth LLC bought a new position in Agnico Eagle Mines during the third quarter worth $354,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Erste Group Bank raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Thursday, March 5th. Citigroup increased their price objective on shares of Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Canadian Imperial Bank of Commerce set a $296.00 target price on Agnico Eagle Mines and gave the company an “outperform” rating in a research report on Wednesday, February 4th. JPMorgan Chase & Co. cut their price target on Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating on the stock in a report on Wednesday, February 18th. Finally, Royal Bank Of Canada cut Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $185.00 to $205.00 in a research note on Wednesday, December 10th. Four 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. Based on data from MarketBeat, Agnico Eagle Mines currently has a consensus rating of “Buy” and an average price target of $234.91.

Agnico Eagle Mines Stock Up 1.0%

Shares of NYSE AEM opened at $227.05 on Wednesday. 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 company has a 50-day moving average price of $209.71 and a 200-day moving average price of $179.94. The stock has a market capitalization of $113.76 billion, a P/E 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.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results 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. The business had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.40 billion. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.09%. The firm’s revenue for the quarter was up 60.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.26 EPS. On average, equities research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued a $0.45 dividend. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, March 2nd. Agnico Eagle Mines’s dividend payout ratio is 20.27%.

About Agnico Eagle Mines

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.