Ninety One UK Ltd Sells 176,752 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Ninety One UK Ltd trimmed its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 5.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,051,078 shares of the mining company’s stock after selling 176,752 shares during the quarter. Ninety One UK Ltd’s holdings in Agnico Eagle Mines were worth $167,908,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IHT Wealth Management LLC boosted its holdings in Agnico Eagle Mines by 1.5% in the fourth quarter. IHT Wealth Management LLC now owns 14,049 shares of the mining company’s stock worth $988,000 after acquiring an additional 208 shares in the last quarter. Avidian Wealth Solutions LLC grew its holdings in shares of Agnico Eagle Mines by 4.7% during the third quarter. Avidian Wealth Solutions LLC now owns 4,846 shares of the mining company’s stock valued at $220,000 after buying an additional 216 shares during the last quarter. Natixis Advisors L.P. increased its position in shares of Agnico Eagle Mines by 1.3% during the third quarter. Natixis Advisors L.P. now owns 18,206 shares of the mining company’s stock worth $827,000 after acquiring an additional 242 shares in the last quarter. FirstPurpose Wealth LLC raised its holdings in shares of Agnico Eagle Mines by 3.8% in the 3rd quarter. FirstPurpose Wealth LLC now owns 7,174 shares of the mining company’s stock worth $326,000 after acquiring an additional 260 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in Agnico Eagle Mines by 34.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,016 shares of the mining company’s stock valued at $62,000 after acquiring an additional 263 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock traded up $0.74 during trading hours on Thursday, reaching $63.23. The company had a trading volume of 1,781,219 shares, compared to its average volume of 3,252,955. The business has a fifty day simple moving average of $54.48 and a 200 day simple moving average of $51.70. Agnico Eagle Mines Limited has a one year low of $43.22 and a one year high of $64.19. The firm has a market cap of $31.53 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 0.92 and a beta of 1.06. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.09 and a quick ratio of 0.74.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Friday, February 16th. The mining company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.48 by $0.09. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.72 billion. Agnico Eagle Mines had a net margin of 29.29% and a return on equity of 5.54%. The business’s quarterly revenue was up 26.9% compared to the same quarter last year. During the same period last year, the firm earned $0.41 EPS. On average, analysts anticipate that Agnico Eagle Mines Limited will post 2.51 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.53%. Agnico Eagle Mines’s dividend payout ratio is 38.93%.

Analyst Ratings Changes

A number of research firms recently commented on AEM. TD Securities lowered their price target on Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Raymond James upped their price objective on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “outperform” rating in a research report on Friday, January 12th. National Bank Financial restated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. CIBC decreased their price target on Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Finally, Jefferies Financial Group began coverage on shares of Agnico Eagle Mines in a report on Thursday, February 29th. They issued a “hold” rating and a $54.00 price target on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.71.

Agnico Eagle Mines 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.