Nikko Asset Management Americas Inc. lessened its holdings in shares of Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) by 8.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 163,899 shares of the mining company’s stock after selling 14,822 shares during the quarter. Nikko Asset Management Americas Inc. owned 0.07% of Agnico Eagle Mines worth $7,130,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in AEM. PRW Wealth Management LLC purchased a new position in Agnico Eagle Mines during the 4th quarter worth $26,000. Lenox Wealth Management Inc. boosted its holdings in Agnico Eagle Mines by 61.6% during the 4th quarter. Lenox Wealth Management Inc. now owns 771 shares of the mining company’s stock worth $31,000 after acquiring an additional 294 shares during the last quarter. Cornerstone Advisors Inc. boosted its holdings in Agnico Eagle Mines by 91.9% during the 3rd quarter. Cornerstone Advisors Inc. now owns 1,025 shares of the mining company’s stock worth $35,000 after acquiring an additional 491 shares during the last quarter. Optimum Investment Advisors purchased a new position in Agnico Eagle Mines during the 4th quarter worth $40,000. Finally, NumerixS Investment Technologies Inc purchased a new position in Agnico Eagle Mines during the 4th quarter worth $99,000. Institutional investors and hedge funds own 61.07% of the company’s stock.
Shares of NYSE:AEM traded up $0.25 during midday trading on Friday, reaching $41.14. The company had a trading volume of 721,900 shares, compared to its average volume of 1,281,609. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.43 and a current ratio of 2.96. The company has a market capitalization of $9.63 billion, a P/E ratio of 136.40, a price-to-earnings-growth ratio of 80.24 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 issued its quarterly earnings results on Thursday, April 25th. The mining company reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.07. The company had revenue of $532.20 million for the quarter, compared to the consensus estimate 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 firm’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.15 EPS. As a group, research analysts predict 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. Investors of record on Friday, May 31st will be issued a $0.219 dividend. This is an increase 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%. The ex-dividend date is Thursday, May 30th.
A number of equities analysts have issued reports on AEM shares. Zacks Investment Research downgraded shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Wednesday, February 6th. ValuEngine downgraded shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Wednesday, February 13th. CIBC reaffirmed a “buy” rating and set a $57.50 price objective on shares of Agnico Eagle Mines in a report on Friday, April 5th. Barclays downgraded 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 report on Tuesday, April 9th. Finally, Desjardins downgraded shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $51.37.
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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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