EP Wealth Advisors LLC Purchases New Position in Agnico Eagle Mines Limited (NYSE:AEM)

EP Wealth Advisors LLC acquired a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,582 shares of the mining company’s stock, valued at approximately $202,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AEM. Norges Bank purchased a new position in Agnico Eagle Mines in the 4th quarter valued at about $573,446,000. Capital World Investors lifted its holdings in Agnico Eagle Mines by 41.9% in the fourth quarter. Capital World Investors now owns 13,952,061 shares of the mining company’s stock worth $1,091,550,000 after acquiring an additional 4,121,164 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Agnico Eagle Mines by 81.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company’s stock worth $551,339,000 after acquiring an additional 3,155,927 shares during the last quarter. AGF Management Ltd. lifted its holdings in Agnico Eagle Mines by 184.6% in the fourth quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company’s stock worth $109,205,000 after acquiring an additional 905,328 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Agnico Eagle Mines by 3.6% in the fourth quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company’s stock worth $1,745,858,000 after acquiring an additional 778,919 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM opened at $104.40 on Thursday. Agnico Eagle Mines Limited has a 52 week low of $63.01 and a 52 week 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 has a market capitalization of $52.54 billion, a P/E ratio of 27.62, a PEG ratio of 0.66 and a beta of 0.54. The firm’s 50 day moving average is $110.32 and its two-hundred day moving average is $95.16.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data 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 net margin of 22.88% and a return on equity of 10.45%. The business had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter last year, the business earned $0.76 earnings per share. The business’s revenue for the quarter was up 34.9% on a year-over-year basis. Analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, December 1st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.53%. Agnico Eagle Mines’s dividend payout ratio is presently 34.04%.

Analysts Set New Price Targets

AEM has been the topic of a number of recent research reports. Stifel Canada raised shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Wednesday, March 19th. Raymond James raised their target price on shares of Agnico Eagle Mines from $105.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, April 4th. Citigroup raised their target price on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, March 31st. Cfra Research raised shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Friday, April 25th. Finally, UBS Group raised their price target on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, April 11th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $124.40.

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.