Lansforsakringar Fondforvaltning AB publ Acquires 8,823 Shares of Agnico Eagle Mines Limited $AEM

Lansforsakringar Fondforvaltning AB publ boosted its holdings in Agnico Eagle Mines Limited (NYSE:AEMFree Report) (TSE:AEM) by 8.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 112,394 shares of the mining company’s stock after purchasing an additional 8,823 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Agnico Eagle Mines were worth $18,934,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Agnico Eagle Mines in the second quarter worth $938,644,000. Arrowstreet Capital Limited Partnership lifted its stake in Agnico Eagle Mines by 38.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 8,296,796 shares of the mining company’s stock worth $987,398,000 after purchasing an additional 2,319,131 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Agnico Eagle Mines by 48.3% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,528,022 shares of the mining company’s stock worth $538,506,000 after purchasing an additional 1,474,385 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Agnico Eagle Mines by 53.1% during the 2nd quarter. Invesco Ltd. now owns 4,164,046 shares of the mining company’s stock valued at $495,230,000 after purchasing an additional 1,444,746 shares during the last quarter. Finally, Picton Mahoney Asset Management purchased a new position in shares of Agnico Eagle Mines during the second quarter valued at about $134,059,000. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $228.11 on Monday. The firm has a market capitalization of $114.29 billion, a PE ratio of 25.69, a PEG ratio of 0.53 and a beta of 0.63. The stock’s fifty day moving average is $194.91 and its 200 day moving average is $171.34. Agnico Eagle Mines Limited has a fifty-two week low of $92.11 and a fifty-two week high of $229.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.02.

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) last posted its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.13. The business had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.40 billion. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.09%. The business’s revenue was up 60.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.26 earnings per share. On average, sell-side analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Increases Dividend

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

Wall Street Analyst Weigh In

AEM has been the topic of a number of research analyst reports. Jefferies Financial Group set a $189.00 target price on Agnico Eagle Mines in a research report on Sunday, December 7th. UBS Group reiterated a “neutral” rating and set a $240.00 target price on shares of Agnico Eagle Mines in a research report on Friday, January 30th. Weiss Ratings lowered shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a report on Monday, January 12th. Canadian Imperial Bank of Commerce set a $296.00 price target on shares of Agnico Eagle Mines and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Finally, TD Securities set a $251.00 price objective on shares of Agnico Eagle Mines and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.91.

Read Our Latest Research Report on Agnico Eagle Mines

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About Agnico Eagle Mines

(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.

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

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