Agnico Eagle Mines Ltd. (AEM) Shares Bought by Sprott Inc.
Sprott Inc. raised its stake in shares of Agnico Eagle Mines Ltd. (NYSE:AEM) by 67.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 800,292 shares of the mining company’s stock after buying an additional 323,250 shares during the period. Agnico Eagle Mines comprises about 1.5% of Sprott Inc.’s holdings, making the stock its 11th largest position. Sprott Inc. owned 0.36% of Agnico Eagle Mines worth $43,360,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of AEM. IFP Advisors Inc increased its stake in Agnico Eagle Mines by 7.8% in the second quarter. IFP Advisors Inc now owns 2,174 shares of the mining company’s stock worth $116,000 after buying an additional 157 shares in the last quarter. Creative Planning boosted its position in Agnico Eagle Mines by 25.3% in the third quarter. Creative Planning now owns 2,974 shares of the mining company’s stock valued at $161,000 after buying an additional 600 shares in the last quarter. Seven Eight Capital LLC purchased a new position in Agnico Eagle Mines during the second quarter valued at $198,000. Cipher Capital LP purchased a new position in Agnico Eagle Mines during the second quarter valued at $216,000. Finally, US Bancorp DE boosted its position in Agnico Eagle Mines by 12.3% in the second quarter. US Bancorp DE now owns 4,346 shares of the mining company’s stock valued at $232,000 after buying an additional 476 shares in the last quarter. Hedge funds and other institutional investors own 62.08% of the company’s stock.
Agnico Eagle Mines Ltd. (NYSE:AEM) opened at 50.54 on Thursday. The company has a market capitalization of $11.35 billion, a price-to-earnings ratio of 141.97 and a beta of -0.42. The stock has a 50 day moving average price of $49.95 and a 200 day moving average price of $51.17. Agnico Eagle Mines Ltd. has a 52-week low of $24.80 and a 52-week high of $60.10.
Agnico Eagle Mines (NYSE:AEM) last announced its earnings results on Wednesday, October 26th. The mining company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.05. Agnico Eagle Mines had a net margin of 3.80% and a return on equity of 2.27%. The company earned $610.86 million during the quarter, compared to analyst estimates of $555.47 million. During the same period in the previous year, the business earned $0.02 earnings per share. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. Equities research analysts forecast that Agnico Eagle Mines Ltd. will post $0.65 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a $0.10 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $0.40 annualized dividend and a yield of 0.79%. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 88.89%.
Several research firms recently issued reports on AEM. Zacks Investment Research upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Monday, July 18th. Desjardins upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Wednesday, July 13th. TD Securities restated a “hold” rating and issued a $61.00 price objective (up previously from $56.00) on shares of Agnico Eagle Mines in a research note on Saturday, August 13th. BMO Capital Markets reiterated a “hold” rating and set a $55.00 target price on shares of Agnico Eagle Mines in a research note on Thursday, July 28th. Finally, Dundee Securities lowered Agnico Eagle Mines from a “buy” rating to a “neutral” rating in a research note on Thursday, July 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $55.47.
About Agnico Eagle Mines
Agnico Eagle Mines Limited is a gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut and exploration activities in Canada, Europe, Latin America and the United States. The Company operates through three business units. The Northern Business consists of its operations in Canada and Finland.
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