Howland Capital Management LLC cut its stake in shares of Agnico Eagle Mines Ltd. (NYSE:AEM) (TSE:AEM) by 2.6% during the third quarter, Holdings Channel reports. The firm owned 85,822 shares of the mining company’s stock after selling 2,305 shares during the period. Howland Capital Management LLC’s holdings in Agnico Eagle Mines were worth $4,650,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of AEM. Sequoia Financial Advisors LLC bought a new position in Agnico Eagle Mines during the second quarter valued at about $557,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in Agnico Eagle Mines by 1.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 762,976 shares of the mining company’s stock valued at $40,644,000 after buying an additional 13,622 shares during the period. Syntal Capital Partners LLC bought a new position in Agnico Eagle Mines during the second quarter valued at about $396,000. American Century Companies Inc. raised its position in Agnico Eagle Mines by 34.8% in the second quarter. American Century Companies Inc. now owns 873,215 shares of the mining company’s stock valued at $46,724,000 after buying an additional 225,299 shares during the period. Finally, Highstreet Asset Management Inc. raised its position in Agnico Eagle Mines by 523.0% in the second quarter. Highstreet Asset Management Inc. now owns 81,330 shares of the mining company’s stock valued at $4,351,000 after buying an additional 68,276 shares during the period. Institutional investors own 61.18% of the company’s stock.
Shares of Agnico Eagle Mines Ltd. (NYSE:AEM) traded up 3.16% on Monday, reaching $42.17. The company’s stock had a trading volume of 1,916,881 shares. The stock has a 50-day moving average price of $46.77 and a 200-day moving average price of $51.07. Agnico Eagle Mines Ltd. has a 1-year low of $24.93 and a 1-year high of $60.10. The company has a market capitalization of $9.47 billion, a price-to-earnings ratio of 118.46 and a beta of -0.42.
Agnico Eagle Mines (NYSE:AEM) last posted its earnings results on Wednesday, October 26th. The mining company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.05. The company earned $610.86 million during the quarter, compared to analyst estimates of $555.47 million. Agnico Eagle Mines had a return on equity of 2.27% and a net margin of 3.80%. The business’s revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.02 earnings per share. On average, equities research analysts forecast that Agnico Eagle Mines Ltd. will post $0.67 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Tuesday, November 29th. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 88.89%.
Several research firms have issued reports on AEM. Citigroup Inc. began coverage on Agnico Eagle Mines in a research note on Tuesday, August 2nd. They issued a “sell” rating and a $44.00 target price on the stock. TD Securities reiterated a “hold” rating and issued a $61.00 target price (up previously from $56.00) on shares of Agnico Eagle Mines in a research note on Saturday, August 13th. Barclays PLC lifted their target price on Agnico Eagle Mines from $50.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, August 8th. RBC Capital Markets downgraded Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and set a $67.00 price target for the company. in a report on Monday, August 8th. Finally, Royal Bank Of Canada downgraded Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and set a $67.00 price target for the company. in a report on Monday, August 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $57.13.
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.