Investors Buy Large Volume of Agnico Eagle Mines Call Options (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) saw some unusual options trading on Thursday. Investors purchased 10,191 call options on the stock. This is an increase of approximately 51% compared to the typical daily volume of 6,763 call options.

Institutional Trading of Agnico Eagle Mines

Several large investors have recently modified their holdings of the company. Blair William & Co. IL grew its stake in shares of Agnico Eagle Mines by 5.9% during the third quarter. Blair William & Co. IL now owns 23,718 shares of the mining company’s stock valued at $1,078,000 after buying an additional 1,313 shares during the last quarter. Wellington Management Group LLP boosted its position in Agnico Eagle Mines by 5.7% during the 3rd quarter. Wellington Management Group LLP now owns 632,403 shares of the mining company’s stock valued at $28,752,000 after acquiring an additional 34,072 shares in the last quarter. Sprott Inc. lifted its holdings in shares of Agnico Eagle Mines by 4.1% during the 3rd quarter. Sprott Inc. now owns 1,412,300 shares of the mining company’s stock valued at $65,249,000 after purchasing an additional 55,032 shares during the last quarter. Alberta Investment Management Corp lifted its holdings in shares of Agnico Eagle Mines by 9.9% during the 2nd quarter. Alberta Investment Management Corp now owns 1,670,650 shares of the mining company’s stock valued at $83,517,000 after purchasing an additional 151,147 shares during the last quarter. Finally, Ninety One UK Ltd raised its stake in Agnico Eagle Mines by 8.3% in the 3rd quarter. Ninety One UK Ltd now owns 3,227,830 shares of the mining company’s stock worth $147,199,000 after acquiring an additional 247,558 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Up 3.1 %

Shares of AEM stock traded up $1.80 during trading hours on Thursday, reaching $59.65. The company’s stock had a trading volume of 4,699,500 shares, compared to its average volume of 3,113,622. The stock has a market capitalization of $29.71 billion, a P/E ratio of 14.38, a P/E/G ratio of 24.36 and a beta of 1.03. Agnico Eagle Mines has a one year low of $43.22 and a one year high of $61.15. The firm’s fifty day simple moving average is $50.83 and its 200 day simple moving average is $50.31. The company has a current ratio of 2.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.10.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Friday, February 16th. The mining company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.09. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.72 billion. Agnico Eagle Mines had a return on equity of 5.54% and a net margin of 29.29%. The business’s quarterly revenue was up 26.9% compared to the same quarter last year. During the same period last year, the company earned $0.41 EPS. Equities research analysts expect that Agnico Eagle Mines will post 2.3 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.68%. The ex-dividend date was Thursday, February 29th. Agnico Eagle Mines’s dividend payout ratio is currently 38.93%.

Analyst Ratings Changes

AEM has been the topic of several analyst reports. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Wednesday, January 3rd. Raymond James boosted their target price on Agnico Eagle Mines from $66.00 to $71.00 and gave the company an “outperform” rating in a research note on Friday, January 12th. Jefferies Financial Group initiated coverage on Agnico Eagle Mines in a research note on Thursday, February 29th. They issued a “hold” rating and a $54.00 target price on the stock. CIBC decreased their price objective on Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Finally, TD Securities decreased their price objective on Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Agnico Eagle Mines presently has an average rating of “Moderate Buy” and an average target price of $63.71.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. 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.