Schroder Investment Management Group Reduces Stake in Agnico Eagle Mines Limited $AEM

Schroder Investment Management Group cut its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 10.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 391,337 shares of the mining company’s stock after selling 46,743 shares during the quarter. Schroder Investment Management Group owned about 0.08% of Agnico Eagle Mines worth $65,263,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AEM. Pure Portfolios Holdings LLC boosted its position in shares of Agnico Eagle Mines by 1.6% during the 3rd quarter. Pure Portfolios Holdings LLC now owns 3,781 shares of the mining company’s stock valued at $637,000 after acquiring an additional 60 shares during the last quarter. HB Wealth Management LLC increased its position in Agnico Eagle Mines by 1.2% during the third quarter. HB Wealth Management LLC now owns 5,640 shares of the mining company’s stock worth $951,000 after purchasing an additional 69 shares during the last quarter. Union Bancaire Privee UBP SA raised its stake in Agnico Eagle Mines by 1.6% during the third quarter. Union Bancaire Privee UBP SA now owns 4,446 shares of the mining company’s stock worth $749,000 after purchasing an additional 72 shares during the period. Blue Bell Private Wealth Management LLC raised its stake in Agnico Eagle Mines by 59.7% during the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock worth $33,000 after purchasing an additional 74 shares during the period. Finally, Evergreen Capital Management LLC boosted its holdings in Agnico Eagle Mines by 0.9% in the 2nd quarter. Evergreen Capital Management LLC now owns 8,232 shares of the mining company’s stock valued at $979,000 after purchasing an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently 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. Jefferies Financial Group set a $189.00 price target on shares of Agnico Eagle Mines in a research report on Sunday, December 7th. Canadian Imperial Bank of Commerce set a $296.00 price objective on Agnico Eagle Mines and gave the company an “outperform” rating in a report on Wednesday, February 4th. Citigroup raised their target price on Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a “buy” rating in a research note on Thursday, January 15th. Finally, Wall Street Zen downgraded Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 31st. Four research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of “Buy” and a consensus target price of $234.91.

Agnico Eagle Mines Stock Up 1.0%

Agnico Eagle Mines stock opened at $227.05 on Wednesday. The company has a market capitalization of $113.76 billion, a PE ratio of 25.57 and a beta of 0.61. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.02. Agnico Eagle Mines Limited has a fifty-two week low of $94.77 and a fifty-two week high of $255.24. The firm has a 50 day moving average price of $209.71 and a 200 day moving average price of $179.94.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $3.40 billion. During the same period in the prior year, the firm earned $1.26 earnings per share. The firm’s revenue was up 60.3% compared to the same quarter last year. Research analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Increases Dividend

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