TD Waterhouse Canada Inc. Lowers Stake in Agnico Eagle Mines Limited $AEM

TD Waterhouse Canada Inc. lowered its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,061,709 shares of the mining company’s stock after selling 71,675 shares during the period. Agnico Eagle Mines accounts for about 1.1% of TD Waterhouse Canada Inc.’s investment portfolio, making the stock its 23rd biggest holding. TD Waterhouse Canada Inc. owned approximately 0.21% of Agnico Eagle Mines worth $179,892,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Magnolia Capital Management Ltd. purchased a new stake in Agnico Eagle Mines during the fourth quarter worth $624,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Agnico Eagle Mines by 26.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 290,913 shares of the mining company’s stock worth $49,399,000 after buying an additional 59,964 shares during the period. First Horizon Corp lifted its holdings in Agnico Eagle Mines by 2.3% during the fourth quarter. First Horizon Corp now owns 17,104 shares of the mining company’s stock worth $2,900,000 after buying an additional 391 shares during the period. Wealth Enhancement Trust Services Inc. purchased a new stake in Agnico Eagle Mines during the fourth quarter worth $346,000. Finally, Ninety One SA Pty Ltd purchased a new stake in Agnico Eagle Mines during the fourth quarter worth $17,985,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $220.23 on Monday. Agnico Eagle Mines Limited has a 12 month low of $103.38 and a 12 month high of $255.24. The stock has a fifty day moving average price of $214.87 and a 200-day moving average price of $190.16. The company has a current ratio of 2.02, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a market cap of $110.34 billion, a PE ratio of 24.80 and a beta of 0.71.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 EPS for the quarter, beating the consensus estimate of $2.56 by $0.13. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same quarter in the prior year, the business posted $1.26 EPS. The business’s revenue for the quarter was up 60.3% compared to the same quarter last year. Equities research analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were paid a $0.45 dividend. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.40. The ex-dividend date was Monday, March 2nd. This represents a $1.80 dividend on an annualized basis and a yield of 0.8%. Agnico Eagle Mines’s dividend payout ratio (DPR) is 20.27%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AEM shares. JPMorgan Chase & Co. lowered their target price on Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. TD Securities upped their target price on Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Citigroup increased their price objective on Agnico Eagle Mines from $198.00 to $256.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Zacks Research lowered Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Finally, Canadian Imperial Bank of Commerce set a $296.00 price objective on Agnico Eagle Mines and gave the company an “outperform” rating in a report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and an average price target of $237.30.

About Agnico Eagle Mines

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.