Focus Partners Wealth Buys 46,951 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Focus Partners Wealth increased its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 802.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,804 shares of the mining company’s stock after acquiring an additional 46,951 shares during the period. Focus Partners Wealth’s holdings in Agnico Eagle Mines were worth $4,130,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Empyrean Capital Partners LP raised its position in Agnico Eagle Mines by 5.3% during the 4th quarter. Empyrean Capital Partners LP now owns 100,000 shares of the mining company’s stock valued at $7,821,000 after purchasing an additional 5,000 shares during the last quarter. Deutsche Bank AG raised its position in Agnico Eagle Mines by 0.7% during the 4th quarter. Deutsche Bank AG now owns 11,916,739 shares of the mining company’s stock valued at $932,008,000 after purchasing an additional 87,410 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Agnico Eagle Mines by 0.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 837,742 shares of the mining company’s stock valued at $65,520,000 after purchasing an additional 2,463 shares during the last quarter. Drummond Knight Asset Management Pty Ltd bought a new position in Agnico Eagle Mines during the 4th quarter valued at approximately $8,994,000. Finally, EP Wealth Advisors LLC bought a new position in Agnico Eagle Mines during the 4th quarter valued at approximately $202,000. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $104.40 on Thursday. The business’s fifty day simple moving average is $110.32 and its two-hundred day simple moving average is $95.16. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a 12 month low of $63.01 and a 12 month high of $126.76. The company has a market cap of $52.54 billion, a price-to-earnings ratio of 27.62, a P/E/G ratio of 0.66 and a beta of 0.54.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Thursday, April 24th. The mining company reported $1.53 EPS for the quarter, beating the consensus estimate 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 business had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period last year, the business posted $0.76 EPS. The company’s revenue was up 34.9% compared to the same quarter last year. Research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders 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 annualized dividend and a yield of 1.53%. Agnico Eagle Mines’s dividend payout ratio is 34.04%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Royal Bank of Canada upped their target price on Agnico Eagle Mines from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, April 4th. UBS Group upped their target price on Agnico Eagle Mines from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, April 11th. National Bank Financial upgraded Agnico Eagle Mines to a “strong-buy” rating in a report on Friday, March 21st. Citigroup upped their target price on Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, March 31st. Finally, BMO Capital Markets assumed coverage on Agnico Eagle Mines in a report on Wednesday, April 16th. They set an “outperform” rating and a $181.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, Agnico Eagle Mines has an average rating of “Buy” and an average price target of $124.40.

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.