Sentry Investment Management LLC increased its position in shares of Agnico Eagle Mines Ltd. (NYSE:AEM) (TSE:AEM) by 46.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,332 shares of the mining company’s stock after buying an additional 15,438 shares during the period. Sentry Investment Management LLC’s holdings in Agnico Eagle Mines were worth $2,619,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. FMR LLC increased its position in Agnico Eagle Mines by 17.9% in the second quarter. FMR LLC now owns 10,795,569 shares of the mining company’s stock worth $577,736,000 after buying an additional 1,636,800 shares during the period. Emerald Acquisition Ltd. purchased a new position in shares of Agnico Eagle Mines during the second quarter worth about $59,054,000. TD Asset Management Inc. increased its position in shares of 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 worth $114,899,000 after buying an additional 865,739 shares during the last quarter. Cidel Asset Management Inc. purchased a new position in shares of Agnico Eagle Mines during the third quarter worth about $43,281,000. Finally, Tocqueville Asset Management L.P. increased its position in shares of Agnico Eagle Mines by 26.2% in the second quarter. Tocqueville Asset Management L.P. now owns 3,193,874 shares of the mining company’s stock worth $170,884,000 after buying an additional 663,434 shares during the last quarter. Institutional investors own 62.14% of the company’s stock.
Shares of Agnico Eagle Mines Ltd. (NYSE:AEM) opened at 39.84 on Friday. Agnico Eagle Mines Ltd. has a 12-month low of $24.93 and a 12-month high of $60.10. The stock has a market cap of $8.95 billion, a price-to-earnings ratio of 111.91 and a beta of -0.42. The stock’s 50 day moving average is $46.90 and its 200-day moving average is $51.10.
Agnico Eagle Mines (NYSE:AEM) last announced its earnings results on Wednesday, October 26th. The mining company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The business had revenue of $610.86 million for the quarter, compared to analyst estimates of $555.47 million. Agnico Eagle Mines had a net margin of 3.80% and a return on equity of 2.27%. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period last year, the firm posted $0.02 earnings per share. Equities analysts anticipate that Agnico Eagle Mines Ltd. will post $0.66 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a $0.10 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 1.00%. Agnico Eagle Mines’s dividend payout ratio (DPR) is 88.89%.
Several analysts have weighed in on AEM shares. Royal Bank Of Canada downgraded shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and set a $67.00 target price on the stock. in a research report on Monday, August 8th. Zacks Investment Research downgraded shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Wednesday, September 7th. BMO Capital Markets reissued a “hold” rating and set a $55.00 target price on shares of Agnico Eagle Mines in a research report on Thursday, July 28th. Raymond James Financial Inc. raised shares of Agnico Eagle Mines from a “market perform” rating to an “outperform” rating in a research report on Tuesday, October 25th. Finally, TD Securities restated a “hold” rating and set a $61.00 price objective (up 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, eight have issued a hold rating and eleven have assigned a buy rating to the stock. Agnico Eagle Mines currently has a consensus rating of “Buy” and a consensus target price of $56.34.
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.