King Luther Capital Management Corp Purchases 13,279 Shares of Agnico Eagle Mines Limited $AEM

King Luther Capital Management Corp raised its position in Agnico Eagle Mines Limited (NYSE:AEMFree Report) (TSE:AEM) by 76.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,651 shares of the mining company’s stock after buying an additional 13,279 shares during the quarter. King Luther Capital Management Corp’s holdings in Agnico Eagle Mines were worth $5,167,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AEM. TD Waterhouse Canada Inc. increased its stake in Agnico Eagle Mines by 13.4% in the third quarter. TD Waterhouse Canada Inc. now owns 1,133,384 shares of the mining company’s stock valued at $192,951,000 after acquiring an additional 134,147 shares during the last quarter. Ninety One UK Ltd lifted its stake in Agnico Eagle Mines by 386.5% during the third quarter. Ninety One UK Ltd now owns 188,189 shares of the mining company’s stock worth $31,703,000 after purchasing an additional 149,506 shares during the last quarter. Campbell & CO Investment Adviser LLC boosted its holdings in shares of Agnico Eagle Mines by 1,560.8% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 48,677 shares of the mining company’s stock worth $8,205,000 after purchasing an additional 45,746 shares in the last quarter. AustralianSuper Pty Ltd purchased a new position in shares of Agnico Eagle Mines in the 3rd quarter worth about $23,958,000. Finally, Addenda Capital Inc. increased its position in shares of Agnico Eagle Mines by 2.3% during the 3rd quarter. Addenda Capital Inc. now owns 724,231 shares of the mining company’s stock valued at $122,076,000 after purchasing an additional 15,965 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Key Stories Impacting Agnico Eagle Mines

Here are the key news stories impacting Agnico Eagle Mines this week:

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Weiss Ratings downgraded Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research report on Monday, January 12th. Citigroup lifted their price target on shares of Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a “buy” rating in a research note on Thursday, January 15th. Scotiabank restated an “outperform” rating and issued a $280.00 price objective on shares of Agnico Eagle Mines in a report on Tuesday. Canadian Imperial Bank of Commerce set a $296.00 target price on shares of Agnico Eagle Mines and gave the company an “outperform” rating in a report on Wednesday, February 4th. Finally, Jefferies Financial Group set a $189.00 target price on shares of Agnico Eagle Mines in a research report on Sunday, December 7th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $234.91.

Read Our Latest Stock Report on AEM

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $228.11 on Friday. The firm has a market cap of $114.29 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 0.52 and a beta of 0.63. Agnico Eagle Mines Limited has a fifty-two week low of $92.11 and a fifty-two week high of $229.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.02. The business has a 50 day moving average price of $194.91 and a 200-day moving average price of $170.83.

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) last issued its earnings results on Thursday, February 12th. The mining company reported $2.69 EPS for the quarter, topping the consensus estimate of $2.56 by $0.13. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.40 billion. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.09%. The firm’s revenue for the quarter was up 60.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.26 earnings per share. Equities research analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.8%. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Monday, March 2nd. Agnico Eagle Mines’s payout ratio is currently 20.27%.

Agnico Eagle Mines Company Profile

(Free Report)

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.

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

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