Russell Investments Group Ltd. Reduces Position in Agnico Eagle Mines Limited (AEM)

Russell Investments Group Ltd. cut its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 21.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 812,449 shares of the mining company’s stock after selling 224,056 shares during the period. Russell Investments Group Ltd. owned approximately 0.35% of Agnico Eagle Mines Limited worth $36,583,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Financial Architects Inc raised its stake in Agnico Eagle Mines Limited by 52.8% in the first quarter. Financial Architects Inc now owns 2,605 shares of the mining company’s stock valued at $111,000 after buying an additional 900 shares during the last quarter. IFP Advisors Inc raised its stake in Agnico Eagle Mines Limited by 9.8% in the first quarter. IFP Advisors Inc now owns 2,639 shares of the mining company’s stock worth $112,000 after buying an additional 235 shares during the last quarter. WFG Advisors LP raised its stake in Agnico Eagle Mines Limited by 76.6% in the first quarter. WFG Advisors LP now owns 3,580 shares of the mining company’s stock worth $152,000 after buying an additional 1,553 shares during the last quarter. Wetherby Asset Management Inc. purchased a new stake in Agnico Eagle Mines Limited during the first quarter worth $210,000. Finally, Fruth Investment Management purchased a new stake in Agnico Eagle Mines Limited during the second quarter worth $212,000. 60.28% of the stock is owned by institutional investors.

Agnico Eagle Mines Limited (NYSE AEM) traded down 0.47% on Friday, reaching $46.82. 2,697,112 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $45.46 and a 200 day moving average of $45.92. The stock has a market capitalization of $10.83 billion, a PE ratio of 43.03 and a beta of -0.67. Agnico Eagle Mines Limited has a 12 month low of $35.05 and a 12 month high of $57.35.

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, July 26th. The mining company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.10. The business had revenue of $549.88 million for the quarter, compared to the consensus estimate of $529.43 million. Agnico Eagle Mines Limited had a net margin of 11.32% and a return on equity of 5.38%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 EPS. Equities analysts predict that Agnico Eagle Mines Limited will post $0.78 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.40 annualized dividend and a yield of 0.85%. Agnico Eagle Mines Limited’s dividend payout ratio (DPR) is 36.70%.

ILLEGAL ACTIVITY NOTICE: This report was first published by Community Financial News and is owned by of Community Financial News. If you are accessing this report on another website, it was illegally copied and reposted in violation of international trademark & copyright legislation. The original version of this report can be read at https://www.com-unik.info/2017/08/19/russell-investments-group-ltd-has-36-58-million-position-in-agnico-eagle-mines-limited-aem-updated-updated.html.

AEM has been the subject of a number of recent analyst reports. TD Securities reaffirmed a “hold” rating and set a $48.00 price target on shares of Agnico Eagle Mines Limited in a report on Friday, April 28th. Zacks Investment Research lowered shares of Agnico Eagle Mines Limited from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. Credit Suisse Group set a $63.00 price target on shares of Agnico Eagle Mines Limited and gave the company a “buy” rating in a report on Tuesday, July 18th. Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a $61.00 price target on shares of Agnico Eagle Mines Limited in a report on Thursday, June 15th. Finally, Scotiabank reaffirmed an “outperform” rating and set a $56.50 price target on shares of Agnico Eagle Mines Limited in a report on Friday, April 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $54.81.

Agnico Eagle Mines Limited Company Profile

Agnico Eagle Mines Limited is a gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut and exploration activities in Canada, Europe, Latin America and the United States. The Company operates through three business units. The Northern Business consists of its operations in Canada and Finland.

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

What are top analysts saying about Agnico Eagle Mines Limited? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Agnico Eagle Mines Limited and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit