Agnico Eagle Mines Limited $AEM Shares Acquired by Capital International Ltd. CA

Key Points

• Capital International Ltd. CA boosted its stake by 87.7%, acquiring an additional 35,190 shares to hold 75,335 AEM shares worth about $12.69 million, and institutional investors now own roughly 68.34% of the stock.
• Analyst sentiment is positive with a consensus "Buy" rating and an average price target of $234.91, while individual targets range from about $205 to $296 after several recent upgrades and revisions.
• Agnico Eagle beat quarterly expectations (EPS $2.69 vs. $2.56, revenue $3.53B vs. $3.40B, revenue up 60.3% YoY) and raised its quarterly dividend to $0.45 (annualized $1.80, yield ~0.8%).

Capital International Ltd. CA boosted its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 87.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,335 shares of the mining company's stock after purchasing an additional 35,190 shares during the quarter. Capital International Ltd. CA's holdings in Agnico Eagle Mines were worth $12,689,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AEM. Brighton Jones LLC grew its position in shares of Agnico Eagle Mines by 11.5% during the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company's stock worth $252,000 after acquiring an additional 331 shares during the last quarter. AQR Capital Management LLC lifted its position in Agnico Eagle Mines by 36.4% in the 1st quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company's stock valued at $2,150,000 after purchasing an additional 5,293 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in Agnico Eagle Mines by 57.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company's stock valued at $379,000 after purchasing an additional 1,160 shares during the period. Bank of New York Mellon Corp grew its position in Agnico Eagle Mines by 5.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 512,862 shares of the mining company's stock worth $60,995,000 after purchasing an additional 27,545 shares during the last quarter. Finally, Savant Capital LLC grew its position in Agnico Eagle Mines by 27.4% in the 2nd quarter. Savant Capital LLC now owns 5,855 shares of the mining company's stock worth $696,000 after purchasing an additional 1,261 shares during the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Canadian Imperial Bank of Commerce set a $296.00 price target on Agnico Eagle Mines and gave the company an "outperform" rating in a report on Wednesday, February 4th. Wall Street Zen cut Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research report on Saturday, January 31st. Scotiabank reiterated an "outperform" rating and set a $280.00 price target on shares of Agnico Eagle Mines in a research report on Tuesday, February 17th. Citigroup raised their price target on Agnico Eagle Mines from $198.00 to $256.00 and gave the company a "buy" rating in a report on Thursday, January 15th. Finally, Royal Bank Of Canada downgraded shares of Agnico Eagle Mines from an "outperform" rating to a "sector perform" rating and upped their price objective for the stock from $185.00 to $205.00 in a report on Wednesday, December 10th. Four investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Agnico Eagle Mines currently has a consensus rating of "Buy" and an average target price of $234.91.

Agnico Eagle Mines Trading Up 1.9%

NYSE:AEM opened at $225.28 on Tuesday. The stock has a fifty day simple moving average of $208.61 and a 200 day simple moving average of $179.31. The firm has a market capitalization of $112.87 billion, a price-to-earnings ratio of 25.37 and a beta of 0.61. Agnico Eagle Mines Limited has a 1-year low of $94.77 and a 1-year high of $255.24. The company has a quick ratio of 1.33, a current ratio of 2.02 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its earnings results on Thursday, February 12th. The mining company reported $2.69 EPS for the quarter, topping the consensus estimate of $2.56 by $0.13. The company had revenue of $3.53 billion during 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 for the quarter was up 60.3% on a year-over-year basis. During the same period last year, the company posted $1.26 earnings per share. Sell-side analysts forecast 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. Shareholders of record on Monday, March 2nd will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, March 2nd. This is a positive change from Agnico Eagle Mines's previous quarterly dividend of $0.40. Agnico Eagle Mines's dividend payout ratio is presently 20.27%.

About Agnico Eagle Mines

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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