Investec Asset Management LTD Has $22.20 Million Holdings in Agnico Eagle Mines Ltd (AEM)
Investec Asset Management LTD lowered its stake in Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) by 53.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 479,154 shares of the mining company’s stock after selling 555,951 shares during the period. Investec Asset Management LTD’s holdings in Agnico Eagle Mines were worth $22,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Pinebridge Investments L.P. acquired a new stake in Agnico Eagle Mines in the 3rd quarter valued at about $170,000. High Pointe Capital Management LLC acquired a new stake in shares of Agnico Eagle Mines during the 3rd quarter worth about $220,000. US Bancorp DE raised its position in shares of Agnico Eagle Mines by 35.2% during the 4th quarter. US Bancorp DE now owns 5,837 shares of the mining company’s stock worth $270,000 after acquiring an additional 1,521 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Agnico Eagle Mines during the 3rd quarter worth about $375,000. Finally, Virtu Financial LLC raised its position in shares of Agnico Eagle Mines by 24.0% during the 3rd quarter. Virtu Financial LLC now owns 8,857 shares of the mining company’s stock worth $400,000 after acquiring an additional 1,717 shares in the last quarter. 57.16% of the stock is currently owned by institutional investors.
Several brokerages have recently weighed in on AEM. Desjardins reissued a “buy” rating on shares of Agnico Eagle Mines in a research report on Monday, December 11th. BMO Capital Markets set a $47.00 target price on Agnico Eagle Mines and gave the stock a “hold” rating in a research report on Tuesday, November 14th. Zacks Investment Research lowered Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Monday, February 5th. Credit Suisse Group set a $62.00 target price on Agnico Eagle Mines and gave the stock a “buy” rating in a research report on Thursday, December 28th. Finally, TD Securities raised their target price on Agnico Eagle Mines from $53.00 to $55.00 and gave the stock a “hold” rating in a research report on Friday, January 12th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Agnico Eagle Mines presently has an average rating of “Buy” and a consensus target price of $56.09.
Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Wednesday, February 14th. The mining company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. The company had revenue of $565.25 million for the quarter, compared to analyst estimates of $552.10 million. Agnico Eagle Mines had a return on equity of 5.21% and a net margin of 10.88%. The firm’s revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 earnings per share. equities analysts expect that Agnico Eagle Mines Ltd will post 0.65 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, February 22nd will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Wednesday, February 28th. Agnico Eagle Mines’s dividend payout ratio (DPR) is 42.31%.
Agnico Eagle Mines Profile
Agnico Eagle Mines Ltd is a Canada-based gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut, as well as exploration activities in Canada, Europe, Latin America and the United States. It operates through the business units: Northern Business, which consists of its operations in Canada and Finland, such as the LaRonde mine, the Lapa mine, the Goldex mine, the Meadowbank mine, the Meliadine project and the Malartic Mine in Canada, as well as the Kittila mine in Finland; Southern Business, which consists of its operations in Mexico, such as the Pinos Altos mine that includes the Creston Mascota deposit and the La India mine owned by its indirect subsidiary, as well as Exploration Group, which focuses on the identification of new mineral reserves and mineral resources, and new development opportunities in gold producing regions.
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