Cadent Capital Advisors LLC Purchases Shares of 8,774 Agnico Eagle Mines Limited $AEM

Cadent Capital Advisors LLC acquired a new position in shares of Agnico Eagle Mines Limited (NYSE:AEMFree Report) (TSE:AEM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,774 shares of the mining company’s stock, valued at approximately $1,487,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital World Investors lifted its stake in shares of Agnico Eagle Mines by 20.0% during the 3rd quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock worth $3,497,470,000 after buying an additional 3,462,968 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Agnico Eagle Mines by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 20,669,949 shares of the mining company’s stock worth $3,481,382,000 after buying an additional 252,043 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Agnico Eagle Mines by 5.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,712,397 shares of the mining company’s stock valued at $1,974,242,000 after buying an additional 602,489 shares during the last quarter. TD Asset Management Inc raised its holdings in Agnico Eagle Mines by 1.5% in the 3rd quarter. TD Asset Management Inc now owns 9,500,193 shares of the mining company’s stock valued at $1,600,436,000 after acquiring an additional 143,645 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in Agnico Eagle Mines by 1.9% in the 2nd quarter. Mackenzie Financial Corp now owns 8,778,276 shares of the mining company’s stock valued at $1,046,468,000 after acquiring an additional 160,650 shares during the period. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AEM shares. Royal Bank Of Canada downgraded shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $185.00 to $205.00 in a research report on Wednesday, December 10th. Jefferies Financial Group set a $189.00 target price on Agnico Eagle Mines in a research note on Sunday, December 7th. Weiss Ratings cut Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a report on Monday, January 12th. Scotiabank restated an “outperform” rating and issued a $280.00 price target on shares of Agnico Eagle Mines in a research note on Tuesday, February 17th. Finally, Canadian Imperial Bank of Commerce set a $296.00 price objective on Agnico Eagle Mines and gave the company an “outperform” rating in a report on Wednesday, February 4th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.91.

Get Our Latest Report on AEM

Agnico Eagle Mines Stock Performance

Shares of NYSE:AEM opened at $187.68 on Friday. Agnico Eagle Mines Limited has a 12-month low of $94.77 and a 12-month high of $255.24. The company’s 50 day moving average price is $212.89 and its two-hundred day moving average price is $183.93. The firm has a market cap of $94.03 billion, a PE ratio of 21.13 and a beta of 0.61. The company has a quick ratio of 1.33, a current ratio of 2.02 and a debt-to-equity ratio of 0.01.

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

Agnico Eagle Mines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a $0.45 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.80 annualized dividend and a yield of 1.0%. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s payout ratio is presently 20.27%.

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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.

Further Reading

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

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