Majedie Asset Management Ltd raised its stake in Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) by 0.2% during the first quarter, Holdings Channel reports. The institutional investor owned 194,350 shares of the mining company’s stock after purchasing an additional 440 shares during the quarter. Majedie Asset Management Ltd’s holdings in Agnico Eagle Mines were worth $8,461,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in shares of Agnico Eagle Mines by 278.6% in the third quarter. JPMorgan Chase & Co. now owns 3,668,472 shares of the mining company’s stock worth $125,461,000 after acquiring an additional 2,699,518 shares during the period. CIBC Asset Management Inc increased its position in Agnico Eagle Mines by 102.3% in the first quarter. CIBC Asset Management Inc now owns 4,304,555 shares of the mining company’s stock worth $187,146,000 after purchasing an additional 2,176,927 shares during the last quarter. Norges Bank bought a new stake in Agnico Eagle Mines in the fourth quarter worth $80,673,000. Amundi Pioneer Asset Management Inc. increased its position in Agnico Eagle Mines by 62.1% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 2,567,883 shares of the mining company’s stock worth $103,741,000 after purchasing an additional 983,988 shares during the last quarter. Finally, Polar Capital LLP bought a new stake in Agnico Eagle Mines in the fourth quarter worth $32,576,000. 63.20% of the stock is currently owned by hedge funds and other institutional investors.

AEM has been the topic of several research reports. CIBC restated a “buy” rating on shares of Agnico Eagle Mines in a research report on Sunday, January 20th. Zacks Investment Research upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research report on Wednesday, January 23rd. ValuEngine cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Wednesday, February 13th. Barclays cut shares of Agnico Eagle Mines from an “overweight” rating to an “equal weight” rating and set a $43.60 price objective on the stock. in a research report on Tuesday, April 9th. Finally, Desjardins cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Agnico Eagle Mines currently has an average rating of “Buy” and a consensus target price of $51.37.

Shares of NYSE AEM traded down $0.38 during mid-day trading on Wednesday, reaching $41.14. The company had a trading volume of 44,675 shares, compared to its average volume of 1,342,600. The company has a current ratio of 2.96, a quick ratio of 1.43 and a debt-to-equity ratio of 0.39. The stock has a market cap of $9.75 billion, a PE ratio of 138.43, a PEG ratio of 81.43 and a beta of -0.52. Agnico Eagle Mines Ltd has a 52 week low of $32.18 and a 52 week high of $47.83.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Thursday, April 25th. The mining company reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.07. The firm had revenue of $532.20 million for the quarter, compared to analysts’ expectations of $515.52 million. Agnico Eagle Mines had a negative net margin of 15.60% and a positive return on equity of 1.47%. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 earnings per share. As a group, sell-side analysts forecast that Agnico Eagle Mines Ltd will post 0.51 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a $0.219 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.11. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.13%.

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Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.

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Institutional Ownership by Quarter for Agnico Eagle Mines (NYSE:AEM)

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