Federated Hermes Inc. Cuts Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Federated Hermes Inc. decreased its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 47.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 853,601 shares of the mining company’s stock after selling 770,002 shares during the period. Federated Hermes Inc.’s holdings in Agnico Eagle Mines were worth $46,820,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in AEM. Vanguard Group Inc. grew its stake in Agnico Eagle Mines by 1.6% in the third quarter. Vanguard Group Inc. now owns 17,224,538 shares of the mining company’s stock valued at $782,855,000 after purchasing an additional 278,647 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Agnico Eagle Mines by 1.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,794,968 shares of the mining company’s stock worth $626,981,000 after acquiring an additional 152,166 shares in the last quarter. Mackenzie Financial Corp lifted its position in Agnico Eagle Mines by 13.9% during the fourth quarter. Mackenzie Financial Corp now owns 9,852,941 shares of the mining company’s stock valued at $511,175,000 after acquiring an additional 1,199,348 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Agnico Eagle Mines by 8.6% in the third quarter. The Manufacturers Life Insurance Company now owns 8,380,993 shares of the mining company’s stock valued at $383,555,000 after acquiring an additional 665,356 shares in the last quarter. Finally, Flossbach Von Storch AG grew its holdings in Agnico Eagle Mines by 0.4% in the third quarter. Flossbach Von Storch AG now owns 5,666,972 shares of the mining company’s stock worth $257,564,000 after purchasing an additional 21,766 shares during the last quarter. 68.34% of the stock is owned by institutional investors.

Agnico Eagle Mines Price Performance

Shares of AEM opened at $63.84 on Friday. The business’s 50-day moving average is $55.15 and its two-hundred day moving average is $51.92. The company has a market capitalization of $31.83 billion, a P/E ratio of 15.53, a P/E/G ratio of 0.94 and a beta of 1.06. Agnico Eagle Mines Limited has a fifty-two week low of $43.22 and a fifty-two week high of $64.19. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.74 and a current ratio of 2.09.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Friday, February 16th. The mining company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.09. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.72 billion. Agnico Eagle Mines had a return on equity of 5.54% and a net margin of 29.29%. The company’s revenue was up 26.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 earnings per share. Research analysts predict that Agnico Eagle Mines Limited will post 2.51 earnings per share for the current year.

Agnico Eagle Mines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.51%. Agnico Eagle Mines’s payout ratio is 38.93%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AEM shares. Raymond James raised their price target on Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “outperform” rating in a report on Friday, January 12th. Jefferies Financial Group assumed coverage on shares of Agnico Eagle Mines in a report on Thursday, February 29th. They issued a “hold” rating and a $54.00 price target for the company. CIBC dropped their price objective on shares of Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. National Bank Financial reissued an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. Finally, TD Securities lowered their price target on Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.71.

Agnico Eagle Mines Company Profile

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.