Metis Global Partners LLC Grows Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Metis Global Partners LLC boosted its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 11.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,879 shares of the mining company’s stock after acquiring an additional 4,306 shares during the quarter. Metis Global Partners LLC’s holdings in Agnico Eagle Mines were worth $2,241,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Bruce G. Allen Investments LLC bought a new position in shares of Agnico Eagle Mines during the 4th quarter valued at approximately $33,000. CVA Family Office LLC purchased a new position in Agnico Eagle Mines during the fourth quarter worth $36,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Agnico Eagle Mines during the third quarter valued at $34,000. Anchor Investment Management LLC purchased a new stake in shares of Agnico Eagle Mines in the fourth quarter valued at $55,000. Finally, Planned Solutions Inc. bought a new stake in shares of Agnico Eagle Mines in the 4th quarter worth about $93,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Performance

Shares of NYSE:AEM opened at $65.96 on Tuesday. The firm has a 50 day moving average of $58.86 and a 200 day moving average of $53.36. The company has a quick ratio of 0.88, a current ratio of 2.21 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $32.89 billion, a price-to-earnings ratio of 69.62, a price-to-earnings-growth ratio of 0.76 and a beta of 1.04. Agnico Eagle Mines Limited has a 52 week low of $43.22 and a 52 week high of $67.80.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Thursday, April 25th. The mining company reported $0.76 EPS for the quarter, topping 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 firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period in the previous year, the company posted $0.57 EPS. The business’s revenue for the quarter was up 21.2% compared to the same quarter last year. On average, sell-side analysts predict that Agnico Eagle Mines Limited will post 3.23 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Friday, May 31st. Agnico Eagle Mines’s dividend payout ratio is currently 168.42%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AEM shares. National Bank Financial reiterated an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. Citigroup lifted their target price on Agnico Eagle Mines from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Raymond James upped 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 note on Friday, January 12th. Jefferies Financial Group boosted their price target on Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a report on Monday, April 22nd. Finally, TD Securities raised their price objective on Agnico Eagle Mines from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.