Massachusetts Financial Services Co. MA Decreases Stock Holdings in Agnico Eagle Mines Limited $AEM

Key Points

• Massachusetts Financial Services Co. trimmed its stake in Agnico Eagle by 0.3%, selling 39,691 shares and now holds 11,672,706 shares (about 2.33%) valued at roughly $1.98 billion.
• Agnico Eagle beat expectations with QEPS of $2.69 versus $2.56 expected and revenue of $3.53 billion (+60.3% YoY), and it raised its quarterly dividend to $0.45 ($1.80 annual, ~0.8% yield).
• Analyst and institutional backdrop: the stock has a consensus rating of "Moderate Buy" with a $232.18 average price target, about 68.34% of shares are held by institutions, and market cap is roughly $109.6 billion.

Massachusetts Financial Services Co. MA trimmed its position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 0.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,672,706 shares of the mining company's stock after selling 39,691 shares during the period. Massachusetts Financial Services Co. MA owned approximately 2.33% of Agnico Eagle Mines worth $1,978,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. TD Waterhouse Canada Inc. raised its holdings in shares of Agnico Eagle Mines by 13.4% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 1,133,384 shares of the mining company's stock worth $192,951,000 after acquiring an additional 134,147 shares in the last quarter. Ninety One UK Ltd raised its holdings in shares of Agnico Eagle Mines by 386.5% during the 3rd quarter. Ninety One UK Ltd now owns 188,189 shares of the mining company's stock worth $31,703,000 after acquiring an additional 149,506 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its holdings in shares of Agnico Eagle Mines by 1,560.8% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 48,677 shares of the mining company's stock worth $8,205,000 after acquiring an additional 45,746 shares in the last quarter. Gunderson Capital Management Inc. raised its holdings in shares of Agnico Eagle Mines by 187.6% during the 4th quarter. Gunderson Capital Management Inc. now owns 48,104 shares of the mining company's stock worth $8,155,000 after acquiring an additional 31,378 shares in the last quarter. Finally, AustralianSuper Pty Ltd purchased a new stake in shares of Agnico Eagle Mines during the 3rd quarter worth approximately $23,958,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Up 1.0%

Shares of AEM opened at $218.68 on Friday. The company has a market cap of $109.57 billion, a PE ratio of 24.63 and a beta of 0.71. The business has a fifty day moving average of $212.59 and a 200 day moving average of $187.95. Agnico Eagle Mines Limited has a 52-week low of $103.38 and a 52-week 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 issued its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share (EPS) 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 company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same period last year, the company earned $1.26 earnings per share. Agnico Eagle Mines's revenue was up 60.3% on a year-over-year basis. On average, sell-side analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a $0.45 dividend. The ex-dividend date was Monday, March 2nd. This is a positive change from Agnico Eagle Mines's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 0.8%. Agnico Eagle Mines's payout ratio is 20.27%.

Analyst Ratings Changes

Several research firms recently weighed in on AEM. Citigroup increased 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. Weiss Ratings downgraded Agnico Eagle Mines from a "buy (a-)" rating to a "buy (b)" rating in a research report on Monday, January 12th. TD Securities raised their price target on Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a "buy" rating in a research report on Tuesday, March 3rd. Wall Street Zen downgraded Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Finally, Erste Group Bank downgraded Agnico Eagle Mines from a "buy" rating to a "hold" rating in a research report on Tuesday, March 24th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $232.18.

Agnico Eagle Mines Company Profile

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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