LGT Group Foundation Sells 2,650 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

LGT Group Foundation reduced its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 136,260 shares of the mining company’s stock after selling 2,650 shares during the quarter. LGT Group Foundation’s holdings in Agnico Eagle Mines were worth $7,475,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AEM. Van ECK Associates Corp raised its stake in shares of Agnico Eagle Mines by 9.5% in the 4th quarter. Van ECK Associates Corp now owns 23,059,010 shares of the mining company’s stock valued at $1,264,791,000 after acquiring an additional 1,995,127 shares during the period. Vanguard Group Inc. lifted its stake in shares of Agnico Eagle Mines by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 17,224,538 shares of the mining company’s stock worth $782,855,000 after acquiring an additional 278,647 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Agnico Eagle Mines by 1.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,794,968 shares of the mining company’s stock valued at $626,981,000 after purchasing an additional 152,166 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Agnico Eagle Mines by 0.4% during the 4th quarter. Mackenzie Financial Corp now owns 9,811,207 shares of the mining company’s stock valued at $538,193,000 after acquiring an additional 41,068 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Agnico Eagle Mines by 8.6% in the third quarter. The Manufacturers Life Insurance Company now owns 8,380,993 shares of the mining company’s stock valued at $383,555,000 after buying an additional 665,356 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Stock Down 0.5 %

Shares of AEM traded down $0.31 during mid-day trading on Friday, hitting $64.81. 1,360,909 shares of the company’s stock were exchanged, compared to its average volume of 3,269,492. The stock’s 50-day moving average is $58.20 and its 200-day moving average is $53.07. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 2.21. Agnico Eagle Mines Limited has a fifty-two week low of $43.22 and a fifty-two week high of $67.80. The company has a market cap of $32.31 billion, a price-to-earnings ratio of 68.56, a P/E/G ratio of 0.75 and a beta of 1.04.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.16. The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The business’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter last year, the business posted $0.57 earnings per share. On average, sell-side analysts anticipate that Agnico Eagle Mines Limited will post 3.23 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $0.40 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.47%. Agnico Eagle Mines’s payout ratio is 168.42%.

Wall Street Analysts Forecast Growth

AEM has been the topic of several recent analyst reports. Raymond James upped their price target on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the company an “outperform” rating in a report on Friday, January 12th. Jefferies Financial Group increased their price target on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. National Bank Financial reiterated an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. TD Securities raised their target price on Agnico Eagle Mines from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, CIBC lifted their price objective on Agnico Eagle Mines from $80.00 to $81.00 and gave the company an “outperform” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and an average price target of $69.63.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.