Royce & Associates LP decreased its holdings in Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) by 3.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,024 shares of the mining company’s stock after selling 2,576 shares during the period. Royce & Associates LP’s holdings in Agnico Eagle Mines were worth $2,985,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Sei Investments Co. increased its holdings in shares of Agnico Eagle Mines by 75.7% in the 2nd quarter. Sei Investments Co. now owns 2,260 shares of the mining company’s stock worth $102,000 after purchasing an additional 974 shares in the last quarter. Pinebridge Investments L.P. bought a new stake in shares of Agnico Eagle Mines in the 3rd quarter worth $170,000. WFG Advisors LP increased its holdings in shares of Agnico Eagle Mines by 8.6% in the 2nd quarter. WFG Advisors LP now owns 3,889 shares of the mining company’s stock worth $175,000 after purchasing an additional 309 shares in the last quarter. Oppenheimer & Close LLC bought a new stake in shares of Agnico Eagle Mines in the 2nd quarter worth $209,000. Finally, High Pointe Capital Management LLC bought a new stake in shares of Agnico Eagle Mines in the 3rd quarter worth $220,000. 58.31% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently weighed in on the company. Credit Suisse Group reiterated a “buy” rating and set a $59.00 target price (down from $64.00) on shares of Agnico Eagle Mines in a research report on Monday, September 25th. Canaccord Genuity reiterated a “buy” rating and set a $77.00 target price on shares of Agnico Eagle Mines in a research report on Thursday, December 28th. Zacks Investment Research upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Tuesday, January 2nd. CSFB raised their price target on Agnico Eagle Mines from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, December 28th. Finally, BMO Capital Markets reissued a “hold” rating and set a $47.00 price target on shares of Agnico Eagle Mines in a report on Monday, October 2nd. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $57.85.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Thursday, November 30th. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.10. Agnico Eagle Mines’s payout ratio is 37.61%.
Agnico Eagle Mines Company 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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