Agnico Eagle Mines Limited $AEM Shares Bought by BW Gestao de Investimentos Ltda.

Key Points

• BW Gestao de Investimentos increased its stake in Agnico Eagle by 31.6%, adding 7,200 shares to hold 30,000 shares valued at $5,057,000, while institutional investors now own 68.34% of the company as major funds (Vanguard, MFS, TD Asset Management, etc.) also boosted positions.
• Agnico Eagle beat expectations for the quarter with EPS of $2.69 vs. $2.56 and revenue of $3.53 billion vs. $3.40 billion, representing a 60.3% year-over-year revenue increase and a 37.47% net margin.
• The company raised its quarterly dividend to $0.45 (annualized $1.80, ~0.8% yield), and Wall Street sentiment is favorable with a consensus "Buy" rating and a $234.91 price target after multiple analyst upgrades.

BW Gestao de Investimentos Ltda. raised its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 31.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 30,000 shares of the mining company's stock after acquiring an additional 7,200 shares during the period. BW Gestao de Investimentos Ltda.'s holdings in Agnico Eagle Mines were worth $5,057,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Agnico Eagle Mines by 1.2% during the third quarter. Vanguard Group Inc. now owns 20,669,949 shares of the mining company's stock worth $3,481,382,000 after purchasing an additional 252,043 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Agnico Eagle Mines by 5.4% in the third 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 purchasing an additional 602,489 shares during the period. TD Asset Management Inc boosted 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 purchasing an additional 143,645 shares in the last quarter. Mackenzie Financial Corp increased its position in Agnico Eagle Mines by 1.9% during the 2nd quarter. Mackenzie Financial Corp now owns 8,778,276 shares of the mining company's stock worth $1,046,468,000 after purchasing an additional 160,650 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in Agnico Eagle Mines by 38.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 8,296,796 shares of the mining company's stock worth $987,398,000 after purchasing an additional 2,319,131 shares during the period. Hedge funds and other institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $225.28 on Tuesday. The business has a 50 day moving average price of $208.61 and a 200 day moving average price of $179.31. The company has a market capitalization of $112.87 billion, a P/E ratio of 25.37 and a beta of 0.61. Agnico Eagle Mines Limited has a 1-year low of $94.77 and a 1-year high of $255.24. 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 posted its earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.13. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.40 billion. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.Agnico Eagle Mines's revenue was up 60.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.26 earnings per share. Sell-side analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 0.8%. This is a boost from Agnico Eagle Mines's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Monday, March 2nd. Agnico Eagle Mines's payout ratio is currently 20.27%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Citigroup raised their price target on Agnico Eagle Mines from $198.00 to $256.00 and gave the company a "buy" rating in a report on Thursday, January 15th. Zacks Research upgraded Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 27th. Canadian Imperial Bank of Commerce set a $296.00 target price on Agnico Eagle Mines and gave the company an "outperform" rating in a report on Wednesday, February 4th. TD Securities boosted their target price on shares of Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a "buy" rating in a research report on Tuesday, March 3rd. Finally, Scotiabank reaffirmed an "outperform" rating and set a $280.00 price target on shares of Agnico Eagle Mines in a research note on Tuesday, February 17th. Four research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $234.91.

About Agnico Eagle Mines

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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