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

LGT Group Foundation lessened its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the 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.

Several other institutional investors have also recently bought and sold shares of AEM. Van ECK Associates Corp increased its position in shares of Agnico Eagle Mines by 9.5% during 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 purchasing an additional 1,995,127 shares during the last quarter. Vanguard Group Inc. boosted its position in Agnico Eagle Mines by 1.6% in the third quarter. Vanguard Group Inc. now owns 17,224,538 shares of the mining company’s stock worth $782,855,000 after purchasing an additional 278,647 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Agnico Eagle Mines by 1.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,794,968 shares of the mining company’s stock worth $626,981,000 after acquiring an additional 152,166 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of 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 worth $538,193,000 after purchasing an additional 41,068 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Agnico Eagle Mines by 8.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,380,993 shares of the mining company’s stock valued at $383,555,000 after purchasing an additional 665,356 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AEM shares. National Bank Financial restated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. Raymond James lifted their target price 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. CIBC boosted their target price on shares of Agnico Eagle Mines from $80.00 to $81.00 and gave the stock an “outperform” rating in a research report on Tuesday. Jefferies Financial Group increased their price objective on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. Finally, Citigroup raised their price target on shares of Agnico Eagle Mines from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $69.63.

Agnico Eagle Mines Price Performance

Shares of AEM traded down $0.31 during midday trading on Friday, hitting $64.81. The company’s stock had a trading volume of 1,360,909 shares, compared to its average volume of 3,269,492. The stock has a market capitalization of $32.31 billion, a price-to-earnings ratio of 68.56, a price-to-earnings-growth ratio of 0.75 and a beta of 1.04. Agnico Eagle Mines Limited has a one year low of $43.22 and a one year high of $67.80. The company’s fifty day simple moving average is $58.20 and its two-hundred day simple moving average is $53.07. The company has a quick ratio of 0.88, a current ratio of 2.21 and a debt-to-equity ratio of 0.09.

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

Agnico Eagle Mines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be given 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 dividend payout ratio is currently 168.42%.

About Agnico Eagle Mines

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.