Fruth Investment Management raised its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 8.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,300 shares of the mining company’s stock after buying an additional 500 shares during the period. Fruth Investment Management’s holdings in Agnico Eagle Mines were worth $444,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. CIBC Asset Management Inc increased its stake in Agnico Eagle Mines by 0.8% in the 3rd quarter. CIBC Asset Management Inc now owns 3,687,689 shares of the mining company’s stock valued at $293,573,000 after buying an additional 27,656 shares during the last quarter. FMR LLC increased its stake in Agnico Eagle Mines by 31.5% in the 2nd quarter. FMR LLC now owns 3,343,945 shares of the mining company’s stock valued at $214,119,000 after buying an additional 801,403 shares during the last quarter. Ninety One UK Ltd increased its stake in Agnico Eagle Mines by 2.6% in the 3rd quarter. Ninety One UK Ltd now owns 2,094,067 shares of the mining company’s stock valued at $166,318,000 after buying an additional 53,581 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in Agnico Eagle Mines by 10.3% in the 3rd quarter. Great West Life Assurance Co. Can now owns 1,960,385 shares of the mining company’s stock valued at $152,760,000 after buying an additional 183,309 shares during the last quarter. Finally, Toronto Dominion Bank increased its stake in Agnico Eagle Mines by 7.6% in the 3rd quarter. Toronto Dominion Bank now owns 1,330,789 shares of the mining company’s stock valued at $106,027,000 after buying an additional 94,264 shares during the last quarter. Hedge funds and other institutional investors own 61.62% of the company’s stock.
Several research firms have recently weighed in on AEM. Barclays lowered shares of Agnico Eagle Mines from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $71.00 to $79.00 in a research note on Monday, October 19th. BMO Capital Markets raised their price objective on shares of Agnico Eagle Mines from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, October 29th. National Bank Financial restated an “outperform” rating on shares of Agnico Eagle Mines in a report on Monday. Zacks Investment Research lowered Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating and set a $69.00 target price on the stock. in a research note on Tuesday, November 24th. Finally, Raymond James set a $95.00 price target on Agnico Eagle Mines and gave the stock an “outperform” rating in a report on Wednesday, January 6th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $84.44.
Shares of AEM opened at $70.10 on Thursday. Agnico Eagle Mines Limited has a 52-week low of $31.00 and a 52-week high of $89.23. The business’s fifty day moving average is $70.36 and its 200-day moving average is $74.97. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.04 and a current ratio of 2.37. The firm has a market cap of $17.04 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 18.88 and a beta of 0.63.
Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Monday, November 2nd. The mining company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.10. The business had revenue of $980.61 million for the quarter. Agnico Eagle Mines had a return on equity of 7.22% and a net margin of 21.54%. During the same quarter in the prior year, the firm earned $0.37 EPS. As a group, research analysts forecast that Agnico Eagle Mines Limited will post 1.95 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 15th. Investors of record on Wednesday, November 25th were given a dividend of $0.35 per share. The ex-dividend date was Tuesday, November 24th. This represents a $1.40 dividend on an annualized basis and a yield of 2.00%. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.20. Agnico Eagle Mines’s payout ratio is currently 144.33%.
Agnico Eagle Mines Profile
Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.
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