Drummond Knight Asset Management Pty Ltd Takes Position in Agnico Eagle Mines Limited (NYSE:AEM)

Drummond Knight Asset Management Pty Ltd bought a new position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 115,000 shares of the mining company’s stock, valued at approximately $8,994,000. Agnico Eagle Mines makes up 6.5% of Drummond Knight Asset Management Pty Ltd’s investment portfolio, making the stock its 9th largest holding.

Other hedge funds have also bought and sold shares of the company. Versant Capital Management Inc acquired a new position in shares of Agnico Eagle Mines during the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC lifted its position in Agnico Eagle Mines by 859.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock valued at $28,000 after acquiring an additional 318 shares in the last quarter. Decker Retirement Planning Inc. acquired a new position in Agnico Eagle Mines during the 4th quarter valued at about $29,000. Fifth Third Bancorp boosted its stake in Agnico Eagle Mines by 176.9% during the 4th quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock valued at $32,000 after purchasing an additional 260 shares during the last quarter. Finally, Duncker Streett & Co. Inc. increased its holdings in Agnico Eagle Mines by 37.3% during the 4th quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock worth $32,000 after purchasing an additional 112 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on AEM shares. Scotiabank reaffirmed an “outperform” rating on shares of Agnico Eagle Mines in a research report on Monday, April 14th. Citigroup upped their target price on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, March 31st. Jefferies Financial Group raised their price target on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Tuesday, January 7th. BMO Capital Markets started coverage on shares of Agnico Eagle Mines in a research report on Wednesday, April 16th. They issued an “outperform” rating and a $181.00 price objective for the company. Finally, Cfra Research upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research note on Friday, April 25th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $124.40.

Agnico Eagle Mines Trading Up 4.4 %

NYSE:AEM opened at $119.28 on Wednesday. Agnico Eagle Mines Limited has a 12 month low of $63.01 and a 12 month high of $126.76. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average is $108.68 and its 200 day moving average is $94.24. The stock has a market capitalization of $60.03 billion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 0.66 and a beta of 0.54.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, April 24th. The mining company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.14. Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. The firm had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the prior year, the firm earned $0.76 EPS. The business’s revenue for the quarter was up 34.9% compared to the same quarter last year. Sell-side analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.60 annualized dividend and a dividend yield of 1.34%. Agnico Eagle Mines’s payout ratio is 34.04%.

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.