Independent Family Office LLC Makes New Investment in Agnico Eagle Mines Limited (NYSE:AEM)

Independent Family Office LLC acquired a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,275 shares of the mining company’s stock, valued at approximately $234,000.

Other hedge funds also recently made changes to their positions in the company. Quilter Plc acquired a new stake in shares of Agnico Eagle Mines during the first quarter worth about $204,981,000. Coppell Advisory Solutions Corp. acquired a new stake in shares of Agnico Eagle Mines during the fourth quarter worth about $26,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Agnico Eagle Mines during the fourth quarter worth about $33,000. CVA Family Office LLC acquired a new stake in shares of Agnico Eagle Mines during the fourth quarter worth about $36,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Agnico Eagle Mines during the third quarter worth about $34,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

Shares of AEM stock traded up $0.63 during midday trading on Tuesday, reaching $62.06. 2,992,290 shares of the company traded hands, compared to its average volume of 3,240,000. The firm’s 50 day simple moving average is $53.90 and its two-hundred day simple moving average is $51.51. Agnico Eagle Mines Limited has a 1-year low of $43.22 and a 1-year high of $64.19. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.09 and a quick ratio of 0.74. The firm has a market cap of $30.94 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 0.92 and a beta of 1.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Friday, February 16th. The mining company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.09. Agnico Eagle Mines had a net margin of 29.29% and a return on equity of 5.54%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the firm earned $0.41 EPS. The company’s revenue for the quarter was up 26.9% on a year-over-year basis. On average, equities research analysts expect that Agnico Eagle Mines Limited will post 2.51 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.40 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.58%. Agnico Eagle Mines’s payout ratio is 38.93%.

Analyst Ratings Changes

Several brokerages have recently weighed in on AEM. Raymond James increased 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 note on Friday, January 12th. Jefferies Financial Group began coverage on shares of Agnico Eagle Mines in a research report on Thursday, February 29th. They issued a “hold” rating and a $54.00 price objective for the company. TD Securities reduced their price objective on shares of Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. CIBC reduced their price objective on shares of Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Finally, National Bank Financial restated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $63.71.

Agnico Eagle Mines Company Profile

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.