WealthTrust Axiom LLC Increases Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

WealthTrust Axiom LLC boosted its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 36.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,058 shares of the mining company’s stock after buying an additional 12,601 shares during the period. Agnico Eagle Mines makes up 0.9% of WealthTrust Axiom LLC’s holdings, making the stock its 29th largest position. WealthTrust Axiom LLC’s holdings in Agnico Eagle Mines were worth $2,581,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Van ECK Associates Corp increased its holdings in shares of Agnico Eagle Mines by 9.5% during the fourth quarter. Van ECK Associates Corp now owns 23,059,010 shares of the mining company’s stock valued at $1,264,791,000 after acquiring an additional 1,995,127 shares in the last quarter. ANTIPODES PARTNERS Ltd purchased a new stake in Agnico Eagle Mines during the 4th quarter worth approximately $41,610,000. The Manufacturers Life Insurance Company grew its position in Agnico Eagle Mines by 8.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,380,993 shares of the mining company’s stock worth $383,555,000 after purchasing an additional 665,356 shares during the last quarter. Alberta Investment Management Corp grew its position in Agnico Eagle Mines by 17.2% during the 3rd quarter. Alberta Investment Management Corp now owns 1,957,250 shares of the mining company’s stock worth $89,350,000 after purchasing an additional 286,600 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Agnico Eagle Mines by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 17,224,538 shares of the mining company’s stock worth $782,855,000 after purchasing an additional 278,647 shares during the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AEM shares. CIBC boosted their target price on shares of Agnico Eagle Mines from $80.00 to $81.00 and gave the stock an “outperform” rating in a research report on Tuesday. Jefferies Financial Group boosted their target price on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. Raymond James boosted their target price on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “outperform” rating in a research report on Friday, January 12th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. Finally, TD Securities upped their price objective on shares of Agnico Eagle Mines from $74.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.63.

Agnico Eagle Mines Stock Performance

Shares of AEM traded down $2.10 during trading hours on Tuesday, hitting $63.71. The stock had a trading volume of 2,435,926 shares, compared to its average volume of 3,300,737. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 2.21. The firm has a 50-day moving average price of $57.26 and a 200 day moving average price of $52.80. Agnico Eagle Mines Limited has a fifty-two week low of $43.22 and a fifty-two week high of $67.80. The firm has a market capitalization of $31.77 billion, a price-to-earnings ratio of 67.23, a PEG ratio of 0.89 and a beta of 1.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.16. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Agnico Eagle Mines had a net margin of 6.79% and a return on equity of 6.09%. The business’s revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.57 EPS. As a group, research analysts anticipate that Agnico Eagle Mines Limited will post 2.77 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend is Friday, May 31st. Agnico Eagle Mines’s dividend payout ratio is presently 168.42%.

About Agnico Eagle Mines

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.