Agnico Eagle Mines Limited (NYSE:AEM) Stake Increased by Sun Valley Gold LLC

Sun Valley Gold LLC boosted its position in shares of Agnico Eagle Mines Limited (NYSE:AEM – Free Report) (TSE:AEM) by 128.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 225,368 shares of the mining company’s stock after purchasing an additional 126,868 shares during the quarter. Agnico Eagle Mines comprises about 7.2% of Sun Valley Gold LLC’s holdings, making the stock its 8th biggest holding. Sun Valley Gold LLC’s holdings in Agnico Eagle Mines were worth $11,487,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. ClariVest Asset Management LLC grew its position in Agnico Eagle Mines by 0.3% during the 1st quarter. ClariVest Asset Management LLC now owns 66,094 shares of the mining company’s stock valued at $3,362,000 after purchasing an additional 200 shares during the last quarter. IHT Wealth Management LLC boosted its holdings in shares of Agnico Eagle Mines by 1.5% during the 4th quarter. IHT Wealth Management LLC now owns 14,049 shares of the mining company’s stock valued at $988,000 after acquiring an additional 208 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in shares of Agnico Eagle Mines by 1.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 15,297 shares of the mining company’s stock valued at $780,000 after acquiring an additional 225 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Agnico Eagle Mines by 0.5% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 47,628 shares of the mining company’s stock valued at $2,476,000 after acquiring an additional 257 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Agnico Eagle Mines by 34.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,016 shares of the mining company’s stock valued at $62,000 after acquiring an additional 263 shares during the last quarter. 59.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of Agnico Eagle Mines in a report on Thursday, August 17th. They set a “hold” rating on the stock. Barclays raised their price target on shares of Agnico Eagle Mines from $61.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. BMO Capital Markets increased their price objective on shares of Agnico Eagle Mines from $64.00 to $67.00 in a research note on Thursday, July 27th. Finally, CSFB increased their price objective on shares of Agnico Eagle Mines from $60.00 to $61.00 and gave the stock an “outperform” rating in a research note on Thursday, August 17th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Agnico Eagle Mines has an average rating of “Moderate Buy” and an average price target of $67.00.

View Our Latest Report on Agnico Eagle Mines

Agnico Eagle Mines Stock Performance

NYSE AEM traded down $0.13 on Friday, reaching $48.38. 767,068 shares of the stock were exchanged, compared to its average volume of 2,668,610. Agnico Eagle Mines Limited has a one year low of $36.69 and a one year high of $61.15. The firm has a market capitalization of $23.97 billion, a PE ratio of 9.44, a PEG ratio of 21.66 and a beta of 0.80. The company’s 50-day simple moving average is $49.57 and its two-hundred day simple moving average is $51.31. The company has a current ratio of 2.10, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10.

Agnico Eagle Mines (NYSE:AEM – Get Free Report) (TSE:AEM) last released its earnings results on Thursday, July 27th. The mining company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.10. Agnico Eagle Mines had a net margin of 40.06% and a return on equity of 5.63%. The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter last year, the business earned $0.75 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. Analysts expect that Agnico Eagle Mines Limited will post 2.23 EPS for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Thursday, August 31st. Agnico Eagle Mines’s payout ratio is 31.13%.

About Agnico Eagle Mines

(Free Report)

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. 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.

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