Agnico Eagle Mines Limited $AEM Holdings Cut by Westerkirk Capital Inc.

Westerkirk Capital Inc. cut its stake in shares of Agnico Eagle Mines Limited (NYSE:AEMFree Report) (TSE:AEM) by 12.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,940 shares of the mining company’s stock after selling 3,300 shares during the quarter. Westerkirk Capital Inc.’s holdings in Agnico Eagle Mines were worth $3,867,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Explore Capital Management LLC increased its position in Agnico Eagle Mines by 26.4% in the third quarter. Explore Capital Management LLC now owns 35,400 shares of the mining company’s stock worth $5,967,000 after buying an additional 7,400 shares during the period. OneDigital Investment Advisors LLC grew its position in shares of Agnico Eagle Mines by 25.4% during the third quarter. OneDigital Investment Advisors LLC now owns 4,676 shares of the mining company’s stock worth $788,000 after acquiring an additional 947 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ increased its holdings in shares of Agnico Eagle Mines by 8.5% in the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 112,394 shares of the mining company’s stock worth $18,934,000 after acquiring an additional 8,823 shares during the period. Bridgewater Advisors Inc. lifted its position in Agnico Eagle Mines by 4.0% in the 3rd quarter. Bridgewater Advisors Inc. now owns 2,533 shares of the mining company’s stock valued at $403,000 after purchasing an additional 97 shares during the last quarter. Finally, Jupiter Asset Management Ltd. boosted its stake in Agnico Eagle Mines by 6.3% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 517,939 shares of the mining company’s stock valued at $87,254,000 after purchasing an additional 30,473 shares during the period. Institutional investors own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

AEM has been the topic of several analyst reports. Scotiabank restated an “outperform” rating and issued a $280.00 price target on shares of Agnico Eagle Mines in a research note on Tuesday. UBS Group restated a “neutral” rating and issued a $240.00 target price on shares of Agnico Eagle Mines in a research report on Friday, January 30th. Erste Group Bank downgraded Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Wall Street Zen cut Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 31st. Finally, Zacks Research lowered Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.91.

Check Out Our Latest Report on Agnico Eagle Mines

Agnico Eagle Mines Stock Performance

Shares of NYSE AEM opened at $228.11 on Friday. Agnico Eagle Mines Limited has a 1 year low of $92.11 and a 1 year high of $229.09. The firm has a market cap of $114.29 billion, a P/E ratio of 25.69, a PEG ratio of 0.53 and a beta of 0.63. The stock has a fifty day moving average price of $194.91 and a two-hundred day moving average price of $171.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.02.

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $3.40 billion. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The company’s revenue was up 60.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.26 earnings per share. Research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.80 annualized dividend and a dividend yield of 0.8%. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s dividend payout ratio is presently 18.02%.

Key Headlines Impacting Agnico Eagle Mines

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Agnico Eagle Mines Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Agnico Eagle Mines (NYSE:AEM)

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