Korea Investment CORP Sells 178,940 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Korea Investment CORP decreased its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 29.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 425,837 shares of the mining company’s stock after selling 178,940 shares during the quarter. Korea Investment CORP owned about 0.08% of Agnico Eagle Mines worth $33,298,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. AGF Management Ltd. grew its holdings in Agnico Eagle Mines by 184.6% in the 4th quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company’s stock valued at $109,205,000 after buying an additional 905,328 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Agnico Eagle Mines by 3.6% in the fourth quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company’s stock valued at $1,745,858,000 after acquiring an additional 778,919 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Agnico Eagle Mines by 262.5% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,060,402 shares of the mining company’s stock worth $85,413,000 after acquiring an additional 767,912 shares during the period. Raymond James Financial Inc. acquired a new stake in Agnico Eagle Mines in the 4th quarter worth about $52,503,000. Finally, Generali Asset Management SPA SGR bought a new stake in Agnico Eagle Mines in the 4th quarter valued at about $46,377,000. Institutional investors own 68.34% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on AEM. Stifel Canada raised shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Wednesday, March 19th. TD Securities dropped their price objective on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Royal Bank of Canada increased their target price on Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. StockNews.com cut Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Finally, Scotiabank increased their price objective on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $95.78.

Agnico Eagle Mines Stock Down 0.5 %

AEM stock opened at $107.34 on Friday. The stock has a market capitalization of $53.99 billion, a P/E ratio of 28.40, a price-to-earnings-growth ratio of 0.66 and a beta of 1.00. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $97.96 and a 200-day moving average price of $87.79. Agnico Eagle Mines Limited has a 12 month low of $60.15 and a 12 month high of $110.36.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. As a group, equities research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.60 annualized dividend and a yield of 1.49%. Agnico Eagle Mines’s dividend payout ratio is presently 42.33%.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.