JPMorgan Chase & Co. Purchases 277,597 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

JPMorgan Chase & Co. raised its position in shares of Agnico Eagle Mines Limited (NYSE:AEMGet Rating) (TSE:AEM) by 11.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,787,553 shares of the mining company’s stock after purchasing an additional 277,597 shares during the period. JPMorgan Chase & Co. owned 0.61% of Agnico Eagle Mines worth $127,560,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Huntington National Bank boosted its holdings in shares of Agnico Eagle Mines by 29.1% in the first quarter. Huntington National Bank now owns 968 shares of the mining company’s stock worth $59,000 after acquiring an additional 218 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Agnico Eagle Mines by 90.4% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 476 shares of the mining company’s stock worth $29,000 after acquiring an additional 226 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of Agnico Eagle Mines by 1.2% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 19,835 shares of the mining company’s stock worth $1,214,000 after acquiring an additional 232 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Agnico Eagle Mines by 34.9% in the first quarter. Geneos Wealth Management Inc. now owns 1,016 shares of the mining company’s stock worth $62,000 after acquiring an additional 263 shares during the period. Finally, Rational Advisors LLC boosted its holdings in shares of Agnico Eagle Mines by 62.0% in the first quarter. Rational Advisors LLC now owns 700 shares of the mining company’s stock worth $43,000 after acquiring an additional 268 shares during the period. 57.62% of the stock is owned by institutional investors.

Agnico Eagle Mines Trading Down 0.8 %

NYSE AEM opened at $47.36 on Tuesday. The stock’s 50-day simple moving average is $43.24 and its two-hundred day simple moving average is $45.80. Agnico Eagle Mines Limited has a twelve month low of $36.69 and a twelve month high of $67.14. The company has a quick ratio of 1.04, a current ratio of 2.17 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $21.59 billion, a price-to-earnings ratio of 32.44, a PEG ratio of 21.18 and a beta of 0.76.

Agnico Eagle Mines (NYSE:AEMGet Rating) (TSE:AEM) last released its quarterly earnings results on Thursday, October 27th. The mining company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.43 billion. Agnico Eagle Mines had a return on equity of 6.80% and a net margin of 10.68%. The company’s revenue for the quarter was up 47.4% on a year-over-year basis. During the same quarter last year, the business posted $0.60 earnings per share. Research analysts forecast that Agnico Eagle Mines Limited will post 2.25 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be paid a $0.40 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $1.60 annualized dividend and a dividend yield of 3.38%. Agnico Eagle Mines’s payout ratio is presently 109.59%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AEM shares. Canaccord Genuity Group raised their price target on Agnico Eagle Mines from C$89.00 to C$91.00 and gave the stock a “buy” rating in a report on Tuesday, September 20th. National Bank Financial lowered their price objective on Agnico Eagle Mines from C$79.00 to C$75.00 in a research report on Tuesday, November 1st. Barclays increased their price objective on Agnico Eagle Mines from $62.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, October 17th. StockNews.com started coverage on Agnico Eagle Mines in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Citigroup upgraded Agnico Eagle Mines from a “neutral” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Friday, September 30th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Agnico Eagle Mines presently has an average rating of “Moderate Buy” and a consensus target price of $71.67.

About Agnico Eagle Mines

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Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. It operates through Northern Business and Southern Business segments. The company primarily produces and sells gold deposits, as well as explores for silver, zinc, and copper deposits.

Further Reading

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

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