Te Ahumairangi Investment Management Ltd Sells 4,019 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Te Ahumairangi Investment Management Ltd lowered its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 6.3% during the fourth quarter, HoldingsChannel reports. The fund owned 59,442 shares of the mining company’s stock after selling 4,019 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in Agnico Eagle Mines were worth $4,648,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of AEM. Van ECK Associates Corp increased its holdings in shares of Agnico Eagle Mines by 3.6% during the 4th quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company’s stock worth $1,745,858,000 after purchasing an additional 778,919 shares during the period. Vanguard Group Inc. grew its position in Agnico Eagle Mines by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 19,865,285 shares of the mining company’s stock worth $1,554,180,000 after buying an additional 331,087 shares in the last quarter. Norges Bank acquired a new stake in Agnico Eagle Mines during the fourth quarter worth about $573,446,000. Arrowstreet Capital Limited Partnership increased its stake in Agnico Eagle Mines by 81.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company’s stock valued at $551,339,000 after acquiring an additional 3,155,927 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in Agnico Eagle Mines by 5.5% in the 4th quarter. CIBC Asset Management Inc now owns 6,383,024 shares of the mining company’s stock valued at $499,956,000 after acquiring an additional 332,576 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. StockNews.com lowered Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. UBS Group downgraded shares of Agnico Eagle Mines from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $100.00 to $110.00 in a research note on Monday. Scotiabank increased their price objective on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. Jefferies Financial Group lifted their target price on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Tuesday, January 7th. Finally, Citigroup increased their price target on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $104.11.

Agnico Eagle Mines Stock Down 0.2 %

Shares of AEM opened at $108.14 on Wednesday. The company has a market capitalization of $54.40 billion, a P/E ratio of 28.61, a PEG ratio of 0.66 and a beta of 1.00. Agnico Eagle Mines Limited has a one year low of $60.15 and a one year high of $110.36. The business’s 50 day simple moving average is $98.82 and its 200-day simple moving average is $88.27. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.86 and a quick ratio of 0.86.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Thursday, February 13th. The mining company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. As a group, sell-side analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Friday, February 28th. Agnico Eagle Mines’s payout ratio is presently 42.33%.

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.