BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Takes $43.95 Million Position in Agnico Eagle Mines Ltd (AEM)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in shares of Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 756,405 shares of the mining company’s stock, valued at approximately $43,947,000.

Several other hedge funds and other institutional investors have also modified their holdings of AEM. PRW Wealth Management LLC acquired a new position in shares of Agnico Eagle Mines during the fourth quarter worth approximately $26,000. Lenox Wealth Management Inc. boosted its position in shares of Agnico Eagle Mines by 61.6% during the fourth quarter. Lenox Wealth Management Inc. now owns 771 shares of the mining company’s stock worth $31,000 after buying an additional 294 shares during the period. Optimum Investment Advisors acquired a new position in shares of Agnico Eagle Mines during the fourth quarter worth approximately $40,000. NumerixS Investment Technologies Inc acquired a new position in shares of Agnico Eagle Mines during the fourth quarter worth approximately $99,000. Finally, Quadrant Capital Group LLC boosted its position in shares of Agnico Eagle Mines by 26.2% during the first quarter. Quadrant Capital Group LLC now owns 2,483 shares of the mining company’s stock worth $105,000 after buying an additional 515 shares during the period. Institutional investors and hedge funds own 63.20% of the company’s stock.

Several equities analysts have recently issued reports on AEM shares. Zacks Investment Research upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Wednesday, January 23rd. ValuEngine downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Wednesday, February 13th. CIBC reiterated a “buy” rating and set a $57.50 price objective on shares of Agnico Eagle Mines in a research report on Friday, April 5th. Barclays downgraded Agnico Eagle Mines from an “overweight” rating to an “equal weight” rating and set a $43.60 price objective for the company. in a research report on Tuesday, April 9th. Finally, Desjardins downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Agnico Eagle Mines has an average rating of “Buy” and an average target price of $51.37.



AEM opened at $41.33 on Tuesday. The company has a market capitalization of $9.65 billion, a price-to-earnings ratio of 137.03, a PEG ratio of 80.61 and a beta of -0.52. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.96 and a quick ratio of 1.43. Agnico Eagle Mines Ltd has a 1-year low of $32.18 and a 1-year high of $47.83.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Thursday, April 25th. The mining company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.07. The firm had revenue of $532.20 million during the quarter, compared to the consensus estimate of $515.52 million. Agnico Eagle Mines had a positive return on equity of 1.47% and a negative net margin of 15.60%. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.15 earnings per share. On average, analysts predict that Agnico Eagle Mines Ltd will post 0.51 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a $0.219 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.12%. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Thursday, May 30th.

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Agnico Eagle Mines Profile

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.

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Institutional Ownership by Quarter for Agnico Eagle Mines (NYSE:AEM)

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