Ninety One UK Ltd Lowers Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Ninety One UK Ltd lowered its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 47.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 439,776 shares of the mining company's stock after selling 393,469 shares during the period. Ninety One UK Ltd owned approximately 0.09% of Agnico Eagle Mines worth $47,640,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AEM. Norges Bank purchased a new position in shares of Agnico Eagle Mines in the fourth quarter worth about $573,446,000. Capital World Investors increased its holdings in shares of Agnico Eagle Mines by 41.9% in the fourth quarter. Capital World Investors now owns 13,952,061 shares of the mining company's stock worth $1,091,550,000 after buying an additional 4,121,164 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Agnico Eagle Mines by 81.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company's stock worth $551,339,000 after buying an additional 3,155,927 shares during the period. AGF Management Ltd. grew its stake in shares of Agnico Eagle Mines by 184.6% in the fourth quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company's stock worth $109,205,000 after purchasing an additional 905,328 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Agnico Eagle Mines by 33.2% in the fourth quarter. Geode Capital Management LLC now owns 3,006,646 shares of the mining company's stock worth $239,844,000 after purchasing an additional 749,932 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Bank of America raised their target price on Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. National Bank Financial raised Agnico Eagle Mines to a "strong-buy" rating in a research note on Friday, March 21st. National Bankshares reissued an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. Raymond James Financial raised Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 target price on the stock in a research note on Monday, June 30th. Finally, Royal Bank Of Canada raised their target price on Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $133.78.

Agnico Eagle Mines Stock Up 1.4%

Agnico Eagle Mines stock traded up $1.66 during trading hours on Friday, hitting $119.81. 1,782,845 shares of the stock traded hands, compared to its average volume of 2,609,399. The firm's 50-day moving average price is $117.74 and its two-hundred day moving average price is $105.56. The company has a current ratio of 2.37, a quick ratio of 1.20 and a debt-to-equity ratio of 0.05. The company has a market cap of $60.24 billion, a PE ratio of 25.49, a PEG ratio of 0.88 and a beta of 0.50. Agnico Eagle Mines Limited has a one year low of $69.72 and a one year high of $126.76.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its quarterly earnings data on Thursday, April 24th. The mining company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.14. The business had revenue of $2.38 billion for the quarter, compared to analysts' expectations of $2.27 billion. Agnico Eagle Mines had a return on equity of 12.09% and a net margin of 26.48%. The business's revenue was up 34.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.76 EPS. On average, research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The company also recently disclosed a dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a yield of 1.36%. Agnico Eagle Mines's payout ratio is 34.04%.

Agnico Eagle Mines Company Profile

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.