20,500 Shares in Agnico Eagle Mines Ltd. (AEM) Acquired by Virginia Retirement Systems ET AL
Virginia Retirement Systems ET AL acquired a new position in Agnico Eagle Mines Ltd. (NYSE:AEM) during the second quarter, Holdings Channel reports. The institutional investor acquired 20,500 shares of the mining company’s stock, valued at approximately $1,091,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Agnico Eagle Mines during the fourth quarter worth $46,865,000. Commonwealth Equity Services Inc bought a new position in Agnico Eagle Mines during the first quarter valued at $327,000. Aperio Group LLC increased its position in Agnico Eagle Mines by 17.5% in the first quarter. Aperio Group LLC now owns 124,518 shares of the mining company’s stock valued at $4,503,000 after buying an additional 18,573 shares during the period. Virginia Retirement System bought a new position in Agnico Eagle Mines during the first quarter valued at $530,000. Finally, Ngam Advisors L.P. bought a new position in Agnico Eagle Mines during the first quarter valued at $424,000. Institutional investors and hedge funds own 62.03% of the company’s stock.
Agnico Eagle Mines Ltd. (NYSE:AEM) opened at 54.18 on Friday. The stock has a market capitalization of $12.11 billion, a P/E ratio of 373.66 and a beta of -0.57. Agnico Eagle Mines Ltd. has a 52-week low of $24.80 and a 52-week high of $60.10. The company has a 50 day moving average of $54.14 and a 200-day moving average of $49.13.
Agnico Eagle Mines (NYSE:AEM) last posted its quarterly earnings results on Thursday, July 28th. The mining company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.06. The business earned $537.60 million during the quarter, compared to analyst estimates of $507.37 million. Agnico Eagle Mines had a net margin of 1.61% and a return on equity of 1.88%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.09 earnings per share. Equities research analysts anticipate that Agnico Eagle Mines Ltd. will post $0.67 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.74%. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.08. The ex-dividend date was Tuesday, August 30th. Agnico Eagle Mines’s dividend payout ratio is 213.35%.
Several research analysts recently weighed in on AEM shares. RBC Capital Markets restated a “sector perform” rating on shares of Agnico Eagle Mines in a research report on Monday, September 19th. HSBC reaffirmed a “buy” rating on shares of Agnico Eagle Mines in a research note on Thursday, July 7th. Dundee Securities cut shares of Agnico Eagle Mines from a “buy” rating to a “neutral” rating in a research note on Thursday, July 14th. Citigroup Inc. started coverage on shares of Agnico Eagle Mines in a research note on Tuesday, August 2nd. They set a “sell” rating and a $44.00 price objective for the company. Finally, TD Securities reaffirmed a “hold” rating and set a $61.00 price objective (up previously from $56.00) on shares of Agnico Eagle Mines in a research note on Saturday, August 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $51.93.
About Agnico Eagle Mines
Agnico Eagle Mines Limited is a gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut and exploration activities in Canada, Europe, Latin America and the United States. The Company operates through three business units. The Northern Business consists of its operations in Canada and Finland.
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