Ninepoint Partners LP Increases Stock Holdings in Agnico Eagle Mines Limited $AEM

Ninepoint Partners LP boosted its holdings in Agnico Eagle Mines Limited (NYSE:AEMFree Report) (TSE:AEM) by 9.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,774 shares of the mining company’s stock after buying an additional 6,097 shares during the period. Agnico Eagle Mines makes up 1.6% of Ninepoint Partners LP’s investment portfolio, making the stock its 9th biggest holding. Ninepoint Partners LP’s holdings in Agnico Eagle Mines were worth $11,761,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. True Wealth Design LLC grew its stake in Agnico Eagle Mines by 381.3% in the 3rd quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock worth $26,000 after buying an additional 122 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Agnico Eagle Mines in the 2nd quarter valued at $29,000. Blue Bell Private Wealth Management LLC grew its holdings in shares of Agnico Eagle Mines by 59.7% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock valued at $33,000 after purchasing an additional 74 shares during the last quarter. MCF Advisors LLC bought a new position in shares of Agnico Eagle Mines during the 3rd quarter valued at $34,000. Finally, Caitlin John LLC purchased a new stake in Agnico Eagle Mines during the 3rd quarter valued at about $36,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Up 2.1%

AEM opened at $251.48 on Friday. The stock has a market cap of $126.00 billion, a price-to-earnings ratio of 28.32, a price-to-earnings-growth ratio of 0.55 and a beta of 0.63. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.02. The firm’s fifty day moving average is $202.46 and its 200 day moving average is $174.62. Agnico Eagle Mines Limited has a fifty-two week low of $92.11 and a fifty-two week high of $252.78.

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) last released its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 EPS for the quarter, beating the consensus estimate of $2.56 by $0.13. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.09%. The business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same quarter last year, the business earned $1.26 earnings per share. Agnico Eagle Mines’s quarterly revenue was up 60.3% compared to the same quarter last year. On average, sell-side analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued a $0.45 dividend. The ex-dividend date is Monday, March 2nd. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.7%. Agnico Eagle Mines’s dividend payout ratio (DPR) is currently 18.02%.

Agnico Eagle Mines News Summary

Here are the key news stories impacting Agnico Eagle Mines this week:

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AEM. JPMorgan Chase & Co. dropped their price target on shares of Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. Zacks Research cut Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings cut Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research note on Monday, January 12th. Scotiabank reaffirmed an “outperform” rating and issued a $280.00 target price on shares of Agnico Eagle Mines in a research report on Tuesday, February 17th. Finally, Canadian Imperial Bank of Commerce set a $296.00 target price on shares of Agnico Eagle Mines and gave the company an “outperform” rating in a report on Wednesday, February 4th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Agnico Eagle Mines presently has an average rating of “Moderate Buy” and a consensus target price of $234.91.

Get Our Latest Analysis on AEM

Agnico Eagle Mines Company Profile

(Free Report)

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.

See Also

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Institutional Ownership by Quarter for Agnico Eagle Mines (NYSE:AEM)

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