Cerity Partners LLC bought a new stake in Agnico Eagle Mines Limited (NYSE:AEM – Get Rating) (TSE:AEM) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 5,529 shares of the mining company’s stock, valued at approximately $253,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Agnico Eagle Mines by 90.4% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 476 shares of the mining company’s stock valued at $29,000 after purchasing an additional 226 shares during the last quarter. Highlander Capital Management LLC purchased a new position in shares of Agnico Eagle Mines in the 1st quarter valued at approximately $41,000. Rational Advisors LLC grew its stake in shares of Agnico Eagle Mines by 62.0% in the 1st quarter. Rational Advisors LLC now owns 700 shares of the mining company’s stock valued at $43,000 after purchasing an additional 268 shares during the last quarter. Gradient Investments LLC grew its stake in shares of Agnico Eagle Mines by 1,372.0% in the 1st quarter. Gradient Investments LLC now owns 736 shares of the mining company’s stock valued at $45,000 after purchasing an additional 686 shares during the last quarter. Finally, Prospera Financial Services Inc purchased a new position in shares of Agnico Eagle Mines in the 1st quarter valued at approximately $49,000. 57.62% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts recently weighed in on the company. Canaccord Genuity Group lifted their price target on Agnico Eagle Mines from C$89.00 to C$91.00 and gave the company a “buy” rating in a research note on Tuesday, September 20th. The Goldman Sachs Group assumed coverage on Agnico Eagle Mines in a research note on Monday, September 12th. They issued a “buy” rating and a $55.00 price target on the stock. Citigroup upgraded Agnico Eagle Mines from a “neutral” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Friday, September 30th. StockNews.com assumed coverage on Agnico Eagle Mines in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, National Bank Financial decreased their price target on Agnico Eagle Mines from C$79.00 to C$75.00 in a research note on Tuesday, November 1st. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and an average price target of $71.67.
Agnico Eagle Mines Stock Performance
Agnico Eagle Mines (NYSE:AEM – Get Rating) (TSE:AEM) last released its quarterly earnings results on Thursday, October 27th. The mining company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. Agnico Eagle Mines had a return on equity of 6.80% and a net margin of 10.68%. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the firm posted $0.60 earnings per share. The business’s revenue for the quarter was up 47.4% compared to the same quarter last year. Sell-side analysts forecast that Agnico Eagle Mines Limited will post 2.25 earnings per share for the current fiscal year.
Agnico Eagle Mines Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.38%. Agnico Eagle Mines’s dividend payout ratio (DPR) is 109.59%.
About Agnico Eagle Mines
Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. It operates through Northern Business and Southern Business segments. The company primarily produces and sells gold deposits, as well as explores for silver, zinc, and copper deposits.
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