Varma Mutual Pension Insurance Co Sells 16,300 Shares of Agnico Eagle Mines Limited $AEM

Varma Mutual Pension Insurance Co reduced its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 10.3% during the 4th quarter, HoldingsChannel reports. The fund owned 141,252 shares of the mining company’s stock after selling 16,300 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Agnico Eagle Mines were worth $23,985,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Capital World Investors lifted its position in Agnico Eagle Mines by 20.0% during the 3rd quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock worth $3,497,470,000 after buying an additional 3,462,968 shares in the last quarter. Lazard Asset Management LLC lifted its position in Agnico Eagle Mines by 566.2% during the 3rd quarter. Lazard Asset Management LLC now owns 888,239 shares of the mining company’s stock worth $149,593,000 after buying an additional 754,919 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Agnico Eagle Mines by 5.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,712,397 shares of the mining company’s stock worth $1,974,242,000 after buying an additional 602,489 shares in the last quarter. Korea Investment CORP lifted its position in Agnico Eagle Mines by 138.5% during the 3rd quarter. Korea Investment CORP now owns 972,595 shares of the mining company’s stock worth $163,847,000 after buying an additional 564,723 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in Agnico Eagle Mines during the 3rd quarter worth about $68,467,000. 68.34% of the stock is owned by institutional investors.

Agnico Eagle Mines Stock Down 0.0%

Shares of AEM stock opened at $183.51 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.02. The firm’s 50-day moving average is $211.77 and its 200-day moving average is $192.04. The stock has a market cap of $91.86 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 4.12 and a beta of 0.58. Agnico Eagle Mines Limited has a 52-week low of $103.38 and a 52-week high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.21. The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.69%. Agnico Eagle Mines’s quarterly revenue was up 66.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.53 EPS. Sell-side analysts predict that Agnico Eagle Mines Limited will post 12.91 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, June 1st. Agnico Eagle Mines’s dividend payout ratio is presently 20.27%.

Analyst Upgrades and Downgrades

AEM has been the topic of several analyst reports. JPMorgan Chase & Co. cut their price target on shares of Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. Erste Group Bank cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 24th. TD Securities boosted their price target on shares of Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Scotiabank reissued an “outperform” rating and set a $280.00 price target on shares of Agnico Eagle Mines in a research report on Tuesday, February 17th. Finally, Weiss Ratings cut shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and a consensus price target of $239.36.

Agnico Eagle Mines Profile

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.