Agnico Eagle Mines Limited $AEM Shares Acquired by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in Agnico Eagle by 1.5% in Q4 to 20,979,666 shares, representing 4.19% of the company and valued at about $3.56 billion.
• Agnico Eagle beat quarterly expectations with EPS of $2.69 (vs. $2.56 est.) and revenue of $3.53 billion (up 60.3% YoY), and raised its quarterly dividend to $0.45 ($1.80 annualized, yield ~1.0%).
• Analysts maintain a consensus Moderate Buy rating with an average price target of $239.36 versus the recent share price near $189, and institutional investors own roughly 68.3% of the stock.

Vanguard Group Inc. increased its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 1.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,979,666 shares of the mining company's stock after purchasing an additional 309,717 shares during the quarter. Vanguard Group Inc. owned 4.19% of Agnico Eagle Mines worth $3,557,772,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of AEM. True Wealth Design LLC raised its holdings in Agnico Eagle Mines by 381.3% in the 3rd quarter. True Wealth Design LLC now owns 154 shares of the mining company's stock worth $26,000 after purchasing an additional 122 shares during the period. Blue Bell Private Wealth Management LLC raised its holdings in Agnico Eagle Mines by 59.7% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company's stock worth $33,000 after purchasing an additional 74 shares during the period. MCF Advisors LLC acquired a new position in Agnico Eagle Mines in the 3rd quarter worth about $34,000. Abound Wealth Management raised its holdings in Agnico Eagle Mines by 99.0% in the 4th quarter. Abound Wealth Management now owns 209 shares of the mining company's stock worth $35,000 after purchasing an additional 104 shares during the period. Finally, Lodestone Wealth Management LLC acquired a new position in Agnico Eagle Mines in the 4th quarter worth about $35,000. Institutional investors and hedge funds own 68.34% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on AEM shares. Weiss Ratings raised Agnico Eagle Mines from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday, April 13th. JPMorgan Chase & Co. reduced their price target on Agnico Eagle Mines from $248.00 to $235.00 and set a "neutral" rating for the company in a report on Wednesday, February 18th. Raymond James Financial reaffirmed an "outperform" rating and issued a $225.00 price target on shares of Agnico Eagle Mines in a report on Wednesday, January 14th. TD upped their price target on Agnico Eagle Mines from $251.00 to $252.00 and gave the stock a "buy" rating in a report on Tuesday, April 21st. Finally, Zacks Research cut Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of "Moderate Buy" and an average price target of $239.36.

Agnico Eagle Mines Price Performance

Shares of Agnico Eagle Mines stock opened at $189.16 on Wednesday. The business has a 50 day simple moving average of $213.24 and a two-hundred day simple moving average of $191.84. Agnico Eagle Mines Limited has a 12 month low of $103.38 and a 12 month high of $255.24. The stock has a market capitalization of $94.68 billion, a P/E ratio of 21.30, a PEG ratio of 9.91 and a beta of 0.71. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.02 and a quick ratio of 1.33.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its earnings results on Thursday, February 12th. The mining company reported $2.69 EPS for the quarter, beating analysts' consensus estimates of $2.56 by $0.13. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The business had revenue of $3.53 billion during the quarter, compared to analysts' expectations of $3.40 billion. During the same quarter in the prior year, the firm earned $1.26 earnings per share. The business's revenue was up 60.3% compared to the same quarter last year. As a group, analysts predict that Agnico Eagle Mines Limited will post 12.98 EPS for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, March 2nd. This is an increase from Agnico Eagle Mines's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. Agnico Eagle Mines's payout ratio is currently 20.27%.

Agnico Eagle Mines Profile

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.

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