Nationwide Fund Advisors Has $2,773,000 Position in Agnico Eagle Mines Ltd. (AEM)
Nationwide Fund Advisors raised its stake in shares of Agnico Eagle Mines Ltd. (NYSE:AEM) by 26.9% during the second quarter, Holdings Channel reports. The firm owned 51,831 shares of the mining company’s stock after buying an additional 10,998 shares during the period. Nationwide Fund Advisors’ holdings in Agnico Eagle Mines were worth $2,773,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Neuberger Berman Group LLC boosted its position in Agnico Eagle Mines by 8.0% in the second quarter. Neuberger Berman Group LLC now owns 709,789 shares of the mining company’s stock valued at $37,974,000 after buying an additional 52,867 shares during the period. I.G. Investment Management LTD. boosted its position in Agnico Eagle Mines by 35.7% in the second quarter. I.G. Investment Management LTD. now owns 740,525 shares of the mining company’s stock valued at $39,634,000 after buying an additional 194,919 shares during the period. TD Asset Management Inc. boosted its position in Agnico Eagle Mines by 67.0% in the second quarter. TD Asset Management Inc. now owns 2,158,213 shares of the mining company’s stock valued at $114,899,000 after buying an additional 865,739 shares during the period. Exane Derivatives acquired a new position in Agnico Eagle Mines during the second quarter valued at about $774,000. Finally, Emerald Acquisition Ltd. acquired a new position in Agnico Eagle Mines during the second quarter valued at about $59,054,000. 62.03% of the stock is currently owned by institutional investors and hedge funds.
Shares of Agnico Eagle Mines Ltd. (NYSE:AEM) traded down 1.49% on Friday, hitting $44.95. The stock had a trading volume of 2,196,590 shares. Agnico Eagle Mines Ltd. has a 12 month low of $24.80 and a 12 month high of $60.10. The firm’s 50-day moving average price is $52.65 and its 200 day moving average price is $49.48. The firm has a market cap of $10.05 billion, a P/E ratio of 310.00 and a beta of -0.84.
Agnico Eagle Mines (NYSE:AEM) last posted its earnings results on Thursday, July 28th. The mining company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. The company earned $537.60 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.09 earnings per share. Analysts anticipate that Agnico Eagle Mines Ltd. will post $0.67 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, August 30th. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a yield of 0.89%. Agnico Eagle Mines’s payout ratio is currently 213.35%.
AEM has been the topic of several research analyst reports. BMO Capital Markets set a $72.30 price target on Agnico Eagle Mines and gave the company a “hold” rating in a report on Sunday, September 18th. RBC Capital Markets reissued a “sector perform” rating on shares of Agnico Eagle Mines in a report on Monday, September 19th. Zacks Investment Research cut Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Wednesday, September 7th. Citigroup Inc. reissued a “sell” rating on shares of Agnico Eagle Mines in a report on Thursday, August 18th. Finally, TD Securities reissued a “hold” rating and set a $61.00 price target (up from $56.00) on shares of Agnico Eagle Mines in a report on Saturday, August 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. Agnico Eagle Mines currently has a consensus rating of “Hold” and a consensus target price 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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