Agnico Eagle Mines Limited $AEM Shares Bought by Centiva Capital LP

Key Points

• Centiva Capital LP increased its stake in Agnico Eagle Mines (NYSE:AEM) by 1,051.5% in Q3, adding 26,802 shares to hold 29,351 shares valued at about $4.95 million.
• Agnico Eagle reported a quarterly beat with EPS of $2.69 vs. $2.56 expected and revenue of $3.53 billion (up 60.3% year-over-year), with strong margins (net margin 37.47%) and ROE of 18.09%.
• The company raised its quarterly dividend to $0.45 (annualized $1.80, yield ~0.9%), and analysts hold a consensus Buy rating with an average price target of $234.91; AEM trades at a PE of 23.36 and a market cap of ~$103.9B.

Centiva Capital LP grew its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 1,051.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,351 shares of the mining company's stock after acquiring an additional 26,802 shares during the period. Centiva Capital LP's holdings in Agnico Eagle Mines were worth $4,947,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. True Wealth Design LLC increased its position in Agnico Eagle Mines by 381.3% during 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 lifted its holdings in shares of 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 valued at $33,000 after buying an additional 74 shares during the period. MCF Advisors LLC acquired a new stake in shares of Agnico Eagle Mines in the 3rd quarter valued at approximately $34,000. Caitlin John LLC purchased a new stake in shares of Agnico Eagle Mines in the third quarter valued at approximately $36,000. Finally, Addison Advisors LLC boosted its stake in shares of Agnico Eagle Mines by 94.1% in the third quarter. Addison Advisors LLC now owns 229 shares of the mining company's stock valued at $39,000 after buying an additional 111 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $207.39 on Friday. The stock has a fifty day moving average price of $212.49 and a 200 day moving average price of $181.29. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.02. The stock has a market cap of $103.91 billion, a PE ratio of 23.36 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.

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 forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Monday, March 2nd. This is a positive change from Agnico Eagle Mines's previous quarterly dividend of $0.40. Agnico Eagle Mines's dividend payout ratio is currently 20.27%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Weiss Ratings cut Agnico Eagle Mines from a "buy (a-)" rating to a "buy (b)" rating in a research report on Monday, January 12th. Erste Group Bank raised shares of Agnico Eagle Mines from a "hold" rating to a "buy" rating in a research note on Thursday, March 5th. Scotiabank reiterated an "outperform" rating and issued a $280.00 price target on shares of Agnico Eagle Mines in a report on Tuesday, February 17th. TD Securities raised their price objective on shares of Agnico Eagle Mines from $241.00 to $251.00 and gave the company a "buy" rating in a research note on Tuesday, March 3rd. Finally, Raymond James Financial reissued an "outperform" rating and set a $225.00 price objective on shares of Agnico Eagle Mines in a report on Wednesday, January 14th. Four research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Agnico Eagle Mines has an average rating of "Buy" and a consensus price target of $234.91.

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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