M&T Bank Corp Has $1.64 Million Stock Holdings in Agnico Eagle Mines Limited $AEM

Key Points

• M&T Bank Corp cut its stake in Agnico Eagle Mines by 38.2% in Q4, selling 5,987 shares and ending the period with 9,667 shares worth about $1.64 million.
• Agnico Eagle beat Q4 expectations with $2.69 EPS and $3.53B revenue (up 60.3% YoY) and raised its quarterly dividend to $0.45 (annualized $1.80, ~1.0% yield).
• Analysts have an average rating of “Moderate Buy” with a consensus target of $239.36, versus the recent share price around $189, implying potential upside.

M&T Bank Corp lowered its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 38.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,667 shares of the mining company's stock after selling 5,987 shares during the period. M&T Bank Corp's holdings in Agnico Eagle Mines were worth $1,639,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in AEM. True Wealth Design LLC grew its stake in Agnico Eagle Mines by 381.3% during the third quarter. True Wealth Design LLC now owns 154 shares of the mining company's stock worth $26,000 after purchasing an additional 122 shares during the period. Blue Bell Private Wealth Management LLC grew its stake in Agnico Eagle Mines by 59.7% during the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company's stock worth $33,000 after purchasing an additional 74 shares during the period. MCF Advisors LLC acquired a new stake in Agnico Eagle Mines during the third quarter worth approximately $34,000. Abound Wealth Management grew its stake in Agnico Eagle Mines by 99.0% during the fourth quarter. Abound Wealth Management now owns 209 shares of the mining company's stock worth $35,000 after purchasing an additional 104 shares during the period. Finally, Lodestone Wealth Management LLC acquired a new stake in Agnico Eagle Mines during the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 68.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AEM. Canadian Imperial Bank of Commerce decreased their target price on Agnico Eagle Mines from $312.00 to $304.00 and set an "outperform" rating for the company in a research note on Tuesday, April 21st. TD Securities raised their target price on Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a "buy" rating in a research note on Tuesday, March 3rd. Zacks Research cut Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. UBS Group decreased their target price on Agnico Eagle Mines from $240.00 to $210.00 and set a "neutral" rating for the company in a research note on Friday, March 27th. Finally, TD raised their target price on Agnico Eagle Mines from $251.00 to $252.00 and gave the stock a "buy" rating in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $239.36.

Agnico Eagle Mines Stock Down 4.5%

Shares of NYSE:AEM opened at $189.16 on Wednesday. The business's 50 day simple moving average is $213.24 and its two-hundred day simple moving average is $191.84. The firm has a market cap of $94.68 billion, a P/E ratio of 21.30, a PEG ratio of 9.91 and a beta of 0.71. 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 Limited has a 52-week low of $103.38 and a 52-week high of $255.24.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.13. The business had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.40 billion. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The company's quarterly revenue was up 60.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.26 earnings per share. As a group, research analysts forecast that Agnico Eagle Mines Limited will post 12.98 EPS for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a $0.45 dividend. The ex-dividend date was Monday, March 2nd. This is an increase from Agnico Eagle Mines's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 1.0%. Agnico Eagle Mines's dividend payout ratio is currently 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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