Ninety One UK Ltd Sells 23,777 Shares of Agnico Eagle Mines Limited $AEM

Key Points

• Ninety One UK Ltd trimmed its position by 12.6%, selling 23,777 shares in the fourth quarter and now holds 164,412 AEM shares valued at about $27.88 million.
• Agnico Eagle beat Q4 estimates with $2.69 EPS vs. $2.56 expected and $3.53B revenue (up 60.3% YoY), and raised its quarterly dividend to $0.45 ($1.80 annual).
• Analyst sentiment is a consensus "Moderate Buy" with a $237.30 average target (two Strong Buy, eight Buy, five Hold), and the company has a market cap around $110.3 billion.

Ninety One UK Ltd trimmed its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 12.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 164,412 shares of the mining company's stock after selling 23,777 shares during the quarter. Ninety One UK Ltd's holdings in Agnico Eagle Mines were worth $27,883,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Salvus Wealth Management LLC boosted its position in Agnico Eagle Mines by 0.9% in the fourth quarter. Salvus Wealth Management LLC now owns 6,301 shares of the mining company's stock valued at $1,068,000 after buying an additional 57 shares in the last quarter. Brookwood Investment Group LLC boosted its position in Agnico Eagle Mines by 4.5% in the fourth quarter. Brookwood Investment Group LLC now owns 1,361 shares of the mining company's stock valued at $231,000 after buying an additional 58 shares in the last quarter. Baron Wealth Management LLC boosted its position in Agnico Eagle Mines by 3.2% in the fourth quarter. Baron Wealth Management LLC now owns 1,879 shares of the mining company's stock valued at $319,000 after buying an additional 59 shares in the last quarter. Pure Portfolios Holdings LLC boosted its position in Agnico Eagle Mines by 1.6% in the third quarter. Pure Portfolios Holdings LLC now owns 3,781 shares of the mining company's stock valued at $637,000 after buying an additional 60 shares in the last quarter. Finally, Baker Ellis Asset Management LLC boosted its position in Agnico Eagle Mines by 0.8% in the fourth quarter. Baker Ellis Asset Management LLC now owns 7,550 shares of the mining company's stock valued at $1,280,000 after buying an additional 63 shares in the last quarter. 68.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Canadian Imperial Bank of Commerce set a $296.00 target price on shares of Agnico Eagle Mines and gave the company an "outperform" rating in a research report on Wednesday, February 4th. Wall Street Zen lowered shares of Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research report on Saturday, April 11th. TD Securities raised their target price on shares of Agnico Eagle Mines from $241.00 to $251.00 and gave the company a "buy" rating in a research report on Tuesday, March 3rd. Erste Group Bank lowered shares of Agnico Eagle Mines from a "buy" rating to a "hold" rating in a research report on Tuesday, March 24th. Finally, Zacks Research downgraded Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $237.30.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM opened at $220.23 on Friday. The firm has a market cap of $110.34 billion, a PE ratio of 24.80 and a beta of 0.71. The firm's fifty day moving average is $214.87 and its 200-day moving average is $190.02. 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 issued its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 EPS for the quarter, topping analysts' consensus estimates of $2.56 by $0.13. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.40 billion. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.09%. Agnico Eagle Mines's revenue was up 60.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.26 earnings per share. Sell-side analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, March 2nd. This is a boost from Agnico Eagle Mines's previous quarterly dividend of $0.40. Agnico Eagle Mines's dividend payout ratio (DPR) 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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