Te Ahumairangi Investment Management Ltd Has $4.65 Million Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

Te Ahumairangi Investment Management Ltd lowered its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 6.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,442 shares of the mining company’s stock after selling 4,019 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in Agnico Eagle Mines were worth $4,648,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Van ECK Associates Corp raised its stake in Agnico Eagle Mines by 3.6% during the 4th quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company’s stock valued at $1,745,858,000 after purchasing an additional 778,919 shares during the period. Vanguard Group Inc. raised its position in Agnico Eagle Mines by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 19,865,285 shares of the mining company’s stock valued at $1,554,180,000 after buying an additional 331,087 shares during the period. Norges Bank purchased a new stake in Agnico Eagle Mines in the 4th quarter worth about $573,446,000. Arrowstreet Capital Limited Partnership boosted its position in Agnico Eagle Mines by 81.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company’s stock worth $551,339,000 after acquiring an additional 3,155,927 shares during the period. Finally, CIBC Asset Management Inc grew its stake in Agnico Eagle Mines by 5.5% during the 4th quarter. CIBC Asset Management Inc now owns 6,383,024 shares of the mining company’s stock valued at $499,956,000 after acquiring an additional 332,576 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

Shares of NYSE AEM opened at $108.14 on Wednesday. The business’s 50-day simple moving average is $98.82 and its 200-day simple moving average is $88.27. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86. Agnico Eagle Mines Limited has a 52 week low of $60.15 and a 52 week high of $110.36. The firm has a market cap of $54.40 billion, a price-to-earnings ratio of 28.61, a P/E/G ratio of 0.66 and a beta of 1.00.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. As a group, equities research analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.40 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.60 annualized dividend and a yield of 1.48%. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 42.33%.

Wall Street Analyst Weigh In

AEM has been the subject of several research reports. StockNews.com cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. National Bank Financial raised shares of Agnico Eagle Mines to a “strong-buy” rating in a research note on Friday, March 21st. Royal Bank of Canada upped their price target on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. UBS Group cut Agnico Eagle Mines from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $100.00 to $110.00 in a research report on Monday. Finally, Raymond James set a $105.00 target price on Agnico Eagle Mines and gave the stock an “outperform” rating in a research report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Agnico Eagle Mines presently has a consensus rating of “Buy” and an average target price of $104.11.

About Agnico Eagle Mines

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.