Agnico Eagle Mines Limited (NYSE:AEM) Shares Sold by Pictet Asset Management SA

Posted by Defense World Staff on Feb 24th, 2023

Pictet Asset Management SA lessened its position in shares of Agnico Eagle Mines Limited (NYSE:AEM – Get Rating) (TSE:AEM) by 5.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 192,948 shares of the mining company’s stock after selling 10,478 shares during the period. Pictet Asset Management SA’s holdings in Agnico Eagle Mines were worth $8,195,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Ronald Blue Trust Inc. purchased a new stake in Agnico Eagle Mines in the 2nd quarter valued at $42,000. Chilton Capital Management LLC purchased a new position in shares of Agnico Eagle Mines during the 2nd quarter worth about $38,000. Global Retirement Partners LLC raised its holdings in Agnico Eagle Mines by 88.0% in the third quarter. Global Retirement Partners LLC now owns 906 shares of the mining company’s stock valued at $40,000 after buying an additional 424 shares during the period. Geneos Wealth Management Inc. raised its holdings in Agnico Eagle Mines by 34.9% in the first quarter. Geneos Wealth Management Inc. now owns 1,016 shares of the mining company’s stock valued at $62,000 after buying an additional 263 shares during the period. Finally, Brown Brothers Harriman & Co. acquired a new stake in Agnico Eagle Mines in the first quarter valued at approximately $65,000. Hedge funds and other institutional investors own 58.11% of the company’s stock.

Agnico Eagle Mines Stock Down 0.0 %

Shares of AEM opened at $45.39 on Friday. The company has a market capitalization of $20.74 billion, a PE ratio of 30.26, a PEG ratio of 21.33 and a beta of 0.78. Agnico Eagle Mines Limited has a 12 month low of $36.69 and a 12 month high of $67.14. The stock’s 50-day moving average price is $52.99 and its two-hundred day moving average price is $47.67. The company has a current ratio of 2.17, a quick ratio of 1.04 and a debt-to-equity ratio of 0.08.

Agnico Eagle Mines (NYSE:AEM – Get Rating) (TSE:AEM) last posted its quarterly earnings results on Friday, February 17th. The mining company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.42 billion. Agnico Eagle Mines had a return on equity of 6.19% and a net margin of 11.67%. The firm’s revenue for the quarter was up 45.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.46 EPS. On average, analysts anticipate that Agnico Eagle Mines Limited will post 2.18 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is Tuesday, February 28th. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 106.67%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AEM. National Bank Financial cut their target price on Agnico Eagle Mines from C$89.00 to C$88.00 in a research note on Tuesday, February 14th. TheStreet raised Agnico Eagle Mines from a “c+” rating to a “b-” rating in a research note on Wednesday, January 25th. Barclays reduced their price target on Agnico Eagle Mines from $65.00 to $62.00 in a report on Friday, February 17th. Raymond James boosted their target price on Agnico Eagle Mines from $65.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, January 31st. Finally, TD Securities lowered their price objective on Agnico Eagle Mines from $68.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, February 17th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $72.44.

Agnico Eagle Mines Company Profile

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Agnico Eagle Mines Ltd. engages in the exploration and production of gold. It operates through the following segments: Northern Business, Southern Business, and Exploration. The Northern Business segment comprises of LaRonde mine, LaRonde Zone 5 mine, Lapa mine, Goldex mine, Meadowbank mine including the Amaruq deposit, Canadian Malartic joint operation, Meliadine project and Kittila mine.