LGT Group Foundation increased its stake in Agnico Eagle Mines Limited (NYSE:AEM – Free Report) (TSE:AEM) by 67.6% during the first quarter, according to the company’s most recent Form 13F filing with the SEC. The institutional investor owned 105,725 shares of the mining company after purchasing an additional 42,625 shares during the quarter. LGT Group Foundation’s interests in Agnico Eagle Mines were worth $5,386,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their holdings in the stock. Vanguard Group Inc. increased its position in Agnico Eagle Mines by 96.5% in the first quarter. Vanguard Group Inc. now owns 15,067,317 shares of the mining company’s stock valued at $922,721,000 after acquiring an additional 7,399,467 shares in the last quarter. Norges Bank acquired a new equity interest in Agnico Eagle Mines worth approximately $285,370,000 in the 4th quarter. National Bank of Canada FI increased its stake in Agnico Eagle Mines shares by 726.4% in the fourth quarter. National Bank of Canada FI now owns 3,341,610 shares of the mining company’s stock valued at $172,857,000 after purchasing an additional 2,937,253 shares in the last quarter. Deutsche Bank AG strengthened its position in Agnico Eagle Mines shares by 21.6% during the fourth quarter. Deutsche Bank AG now owns 12,625,625 shares of the mining company’s stock valued at $656,406,000 after purchasing an additional 2,241,632 shares during the period. Finally, in the fourth quarter, Van ECK Associates Corp increased its stake in Agnico Eagle Mines stock by 8.5%. Van ECK Associates Corp. now owns 22,058,188 shares of the mining company’s stock valued at $1,146,794,000 after purchasing an additional 1,729,461 shares in the last quarter. Institutional investors and hedge funds own 55.54% of the company’s stock.
Upgrades and downgrades for analysts
AEM has been the subject of several research reports. Barclays raised their target price on Agnico Eagle Mines from $62.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, April 21. BMO Capital Markets began reporting on shares of Agnico Eagle Mines on Monday, April 3 in an investigative report. They gave the company an “outperform” rating. StockNews.com began coverage of shares of Agnico Eagle Mines in a research note on Thursday, May 18. They gave the stock a “hold” rating. Finally, on Monday, April 3, Scotiabank drew attention to shares of Agnico Eagle Mines in a research note. They have established an “outperform” rating for the company. One equity research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Average Buy” and an average target price of $70.63.
Agnico Eagle Mines stock up 1.5%
Shares of AEM stock opened Friday at $49.98. Agnico Eagle Mines Limited has a 52-week low of $36.69 and a 52-week high of $61.15. The stock has a market cap of $24.72 billion, a P/E ratio of 9.84, a PEG ratio of 21.86 and a beta of 0.81. The company’s 50-day moving average is $53.25 and its 200-day moving average is $52.62. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.07 and a current ratio of 2.32.
Agnico Eagle Mines (NYSE:AEM – Free Report) (TSE:AEM) last released its quarterly results on Thursday, April 27. The mining company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.07. Agnico Eagle Mines had a return on equity of 6.07% and a net margin of 40.12%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.30 billion. Sell-side analysts forecast that Agnico Eagle Mines Limited will post 2.25 earnings per share for the current year.
Agnico Eagle Mines Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 15. Shareholders of record on Thursday, June 1, received a dividend of $0.40 per share. This represents an annual dividend of $1.60 and a yield of 3.20%. The ex-dividend date was Wednesday, May 31. Agnico Eagle Mines’ dividend payout ratio is 31.50%.
Agnico Eagle Mines profile
Agnico Eagle Mines Limited, a gold mining company, exploration, development and production of precious metals. The company’s mines are located in Canada, Australia, Finland and Mexico, with exploration and development operations in Canada, Australia, Europe, Latin America and the United States.
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