Agnico Eagle Mines Limited $AEM Stock Position Lessened by Sienna Gestion

Key Points

• Sienna Gestion trimmed its stake in Agnico Eagle Mines by 11.5%, selling 11,000 shares and now holds 84,400 shares worth about $12.96 million (≈0.9% of its portfolio and its 23rd largest holding).
• Major institutions are buying or expanding positions — Norges Bank opened a ~ $938.6M position and Arrowstreet, Invesco and DZ BANK significantly increased stakes, leaving institutional ownership at 68.34%.
• Agnico beat estimates and raised its dividend: Q results showed EPS $2.69 vs. $2.56 expected and revenue $3.53B (up 60.3% YoY), and the company raised its quarterly dividend to $0.45 ($1.80 annualized).

Sienna Gestion trimmed its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 11.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 84,400 shares of the mining company's stock after selling 11,000 shares during the period. Agnico Eagle Mines makes up approximately 0.9% of Sienna Gestion's investment portfolio, making the stock its 23rd largest holding. Sienna Gestion's holdings in Agnico Eagle Mines were worth $12,963,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of AEM. Norges Bank acquired a new position in Agnico Eagle Mines during the 2nd quarter valued at about $938,644,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of 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 acquiring an additional 2,319,131 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Agnico Eagle Mines by 48.3% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,528,022 shares of the mining company's stock valued at $538,506,000 after acquiring an additional 1,474,385 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Agnico Eagle Mines by 53.1% in the second quarter. Invesco Ltd. now owns 4,164,046 shares of the mining company's stock valued at $495,230,000 after acquiring an additional 1,444,746 shares in the last quarter. Finally, Picton Mahoney Asset Management acquired a new position in shares of Agnico Eagle Mines during the second quarter valued at approximately $134,059,000. Institutional investors and hedge funds own 68.34% of the company's stock.

Agnico Eagle Mines Trading Down 0.3%

Shares of NYSE AEM opened at $220.80 on Monday. 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 Limited has a 12 month low of $94.77 and a 12 month high of $255.24. The company has a market cap of $110.63 billion, a price-to-earnings ratio of 24.86 and a beta of 0.61. The business has a fifty day simple moving average of $207.52 and a 200-day simple moving average of $178.68.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, topping analysts' consensus estimates of $2.56 by $0.13. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The firm had revenue of $3.53 billion for the quarter, compared to analysts' expectations of $3.40 billion. During the same quarter last year, the business posted $1.26 EPS. Agnico Eagle Mines's revenue was up 60.3% on a year-over-year basis. Sell-side analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.45 per share. This is an increase from Agnico Eagle Mines's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, March 2nd. Agnico Eagle Mines's dividend payout ratio (DPR) is presently 20.27%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Raymond James Financial reaffirmed an "outperform" rating and set a $225.00 price target on shares of Agnico Eagle Mines in a research note on Wednesday, January 14th. Citigroup raised their target price on Agnico Eagle Mines from $198.00 to $256.00 and gave the company a "buy" rating in a research note on Thursday, January 15th. Zacks Research upgraded shares of Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 27th. Jefferies Financial Group set a $189.00 price target on shares of Agnico Eagle Mines in a report on Sunday, December 7th. Finally, Wall Street Zen cut shares of Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research note on Saturday, January 31st. Four equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Agnico Eagle Mines presently has a consensus rating of "Buy" and an average price target of $234.91.

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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