Agnico Eagle Mines Limited (NYSE:AEM) Stake Increased by WealthTrust Axiom LLC

WealthTrust Axiom LLC lifted its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 36.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,058 shares of the mining company’s stock after acquiring an additional 12,601 shares during the quarter. Agnico Eagle Mines makes up 0.9% of WealthTrust Axiom LLC’s portfolio, making the stock its 29th biggest holding. WealthTrust Axiom LLC’s holdings in Agnico Eagle Mines were worth $2,581,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Natixis Advisors L.P. increased its stake in shares of Agnico Eagle Mines by 1.3% in the third quarter. Natixis Advisors L.P. now owns 18,206 shares of the mining company’s stock worth $827,000 after acquiring an additional 242 shares during the last quarter. FirstPurpose Wealth LLC increased its stake in shares of Agnico Eagle Mines by 3.8% in the third quarter. FirstPurpose Wealth LLC now owns 7,174 shares of the mining company’s stock worth $326,000 after acquiring an additional 260 shares during the last quarter. PFG Investments LLC increased its stake in shares of Agnico Eagle Mines by 3.5% in the third quarter. PFG Investments LLC now owns 8,977 shares of the mining company’s stock worth $408,000 after acquiring an additional 302 shares during the last quarter. Chilton Capital Management LLC increased its stake in shares of Agnico Eagle Mines by 13.3% in the fourth quarter. Chilton Capital Management LLC now owns 3,191 shares of the mining company’s stock worth $175,000 after acquiring an additional 375 shares during the last quarter. Finally, Violich Capital Management Inc. increased its stake in shares of Agnico Eagle Mines by 2.0% in the fourth quarter. Violich Capital Management Inc. now owns 21,354 shares of the mining company’s stock worth $1,171,000 after acquiring an additional 425 shares during the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Performance

Shares of NYSE:AEM traded down $2.10 during midday trading on Tuesday, hitting $63.71. The company’s stock had a trading volume of 2,435,926 shares, compared to its average volume of 3,300,737. The stock has a market capitalization of $31.77 billion, a price-to-earnings ratio of 67.23, a PEG ratio of 0.89 and a beta of 1.06. The stock’s 50 day simple moving average is $57.26 and its 200 day simple moving average is $52.80. Agnico Eagle Mines Limited has a fifty-two week low of $43.22 and a fifty-two week high of $67.80. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 2.21.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.16. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period last year, the business posted $0.57 earnings per share. The firm’s revenue was up 21.2% compared to the same quarter last year. As a group, research analysts anticipate that Agnico Eagle Mines Limited will post 2.77 earnings per share for the current year.

Agnico Eagle Mines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Friday, May 31st. Agnico Eagle Mines’s payout ratio is presently 168.42%.

Wall Street Analyst Weigh In

AEM has been the topic of a number of research reports. Jefferies Financial Group upped their price target on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. Raymond James increased their target price on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “outperform” rating in a research report on Friday, January 12th. CIBC increased their target price on shares of Agnico Eagle Mines from $80.00 to $81.00 and gave the stock an “outperform” rating in a research report on Tuesday. National Bank Financial reissued an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. Finally, TD Securities increased their target price on shares of Agnico Eagle Mines from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Tuesday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.63.

About Agnico Eagle Mines

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.