First Trust Direct Indexing L.P. Boosts Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

First Trust Direct Indexing L.P. increased its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 13.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,416 shares of the mining company’s stock after purchasing an additional 741 shares during the period. First Trust Direct Indexing L.P.’s holdings in Agnico Eagle Mines were worth $352,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Van ECK Associates Corp increased its holdings in shares of Agnico Eagle Mines by 9.5% in the 4th quarter. Van ECK Associates Corp now owns 23,059,010 shares of the mining company’s stock worth $1,264,791,000 after buying an additional 1,995,127 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Agnico Eagle Mines by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 17,224,538 shares of the mining company’s stock valued at $782,855,000 after purchasing an additional 278,647 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Agnico Eagle Mines by 1.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,794,968 shares of the mining company’s stock worth $626,981,000 after purchasing an additional 152,166 shares during the period. Mackenzie Financial Corp increased its position in shares of Agnico Eagle Mines by 0.4% during the 4th quarter. Mackenzie Financial Corp now owns 9,811,207 shares of the mining company’s stock valued at $538,193,000 after purchasing an additional 41,068 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Agnico Eagle Mines by 8.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,380,993 shares of the mining company’s stock valued at $383,555,000 after buying an additional 665,356 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on AEM. TD Securities lifted their price objective on shares of Agnico Eagle Mines from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Citigroup upped their price target on shares of Agnico Eagle Mines from $65.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. National Bank Financial reissued an “outperform overweight” rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. Jefferies Financial Group increased their price target on Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. Finally, CIBC boosted their price objective on Agnico Eagle Mines from $80.00 to $81.00 and gave the company an “outperform” rating in a report on Tuesday, April 30th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and an average target price of $69.63.

Agnico Eagle Mines Stock Up 1.7 %

Shares of NYSE AEM opened at $66.14 on Tuesday. Agnico Eagle Mines Limited has a 52-week low of $43.22 and a 52-week high of $67.80. The firm has a market capitalization of $32.98 billion, a price-to-earnings ratio of 69.62, a PEG ratio of 0.76 and a beta of 1.04. The stock has a 50 day moving average price of $58.86 and a 200 day moving average price of $53.36. 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 earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.16. The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The business’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.57 EPS. Sell-side analysts expect that Agnico Eagle Mines Limited will post 3.23 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Friday, May 31st. Agnico Eagle Mines’s dividend payout ratio (DPR) is 168.42%.

Agnico Eagle Mines Company Profile

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.