Nikko Asset Management Americas Inc. Sells 20,325 Shares of Agnico Eagle Mines Ltd (NYSE:AEM)

Nikko Asset Management Americas Inc. cut its holdings in shares of Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) by 12.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 143,574 shares of the mining company’s stock after selling 20,325 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Agnico Eagle Mines were worth $7,357,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Northern Trust Corp lifted its position in Agnico Eagle Mines by 4.1% during the 4th quarter. Northern Trust Corp now owns 238,558 shares of the mining company’s stock worth $9,637,000 after acquiring an additional 9,309 shares in the last quarter. Geode Capital Management LLC lifted its position in Agnico Eagle Mines by 11.1% during the 4th quarter. Geode Capital Management LLC now owns 193,860 shares of the mining company’s stock worth $7,760,000 after acquiring an additional 19,379 shares in the last quarter. Millennium Management LLC lifted its position in Agnico Eagle Mines by 188.7% during the 4th quarter. Millennium Management LLC now owns 161,647 shares of the mining company’s stock worth $6,531,000 after acquiring an additional 105,647 shares in the last quarter. Virtu Financial LLC acquired a new position in Agnico Eagle Mines during the 1st quarter worth approximately $233,000. Finally, Sciencast Management LP acquired a new position in Agnico Eagle Mines during the 1st quarter worth approximately $395,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Several equities analysts recently commented on the company. CIBC reissued a “buy” rating and set a $70.00 price target on shares of Agnico Eagle Mines in a research report on Monday, July 29th. Raymond James boosted their price target on Agnico Eagle Mines from $61.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. GMP Securities raised Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Citigroup set a $55.00 price target on Agnico Eagle Mines and gave the stock a “hold” rating in a research report on Tuesday, July 2nd. Finally, ValuEngine raised Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research report on Monday, May 20th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $54.76.

Shares of AEM traded down $0.16 during trading on Friday, reaching $59.24. The company’s stock had a trading volume of 1,224,406 shares, compared to its average volume of 1,650,657. The business’s fifty day moving average price is $52.87. Agnico Eagle Mines Ltd has a twelve month low of $32.18 and a twelve month high of $60.17. The company has a market cap of $13.90 billion, a P/E ratio of 149.54, a price-to-earnings-growth ratio of 77.76 and a beta of -0.42. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Wednesday, July 24th. The mining company reported $0.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.07. Agnico Eagle Mines had a positive return on equity of 1.92% and a negative net margin of 14.74%. The company had revenue of $526.60 million for the quarter, compared to analyst estimates of $490.93 million. During the same period in the prior year, the company posted $0.01 EPS. Agnico Eagle Mines’s quarterly revenue was down 5.3% on a year-over-year basis. On average, analysts anticipate that Agnico Eagle Mines Ltd will post 0.75 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.49%. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, August 29th.

Agnico Eagle Mines Profile

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.

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

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