Agnico Eagle Mines Limited $AEM Stock Position Lifted by Delta Investment Management LLC

Key Points

• Delta Investment Management LLC boosted its stake in Agnico Eagle by 864.3% in Q4 to 15,824 shares (about $2.68M), and institutional investors collectively own 68.34% of the company.
• Agnico beat Q results with $2.69 EPS vs $2.56 expected and $3.53B revenue (up 60.3% YoY), and raised its quarterly dividend to $0.45 (annualized $1.80, ~1.0% yield).
• Analysts have a consensus rating of "Moderate Buy" with an average target of $239.36; AEM traded near $186.47 midday (market cap ≈ $93.3B, P/E ~21).

Delta Investment Management LLC grew its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 864.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,824 shares of the mining company's stock after buying an additional 14,183 shares during the quarter. Delta Investment Management LLC's holdings in Agnico Eagle Mines were worth $2,683,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. TD Waterhouse Canada Inc. raised its position in Agnico Eagle Mines by 13.4% in the third quarter. TD Waterhouse Canada Inc. now owns 1,133,384 shares of the mining company's stock worth $192,951,000 after acquiring an additional 134,147 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Agnico Eagle Mines by 42.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 65,404 shares of the mining company's stock valued at $11,088,000 after purchasing an additional 19,647 shares in the last quarter. Ninety One UK Ltd grew its stake in shares of Agnico Eagle Mines by 386.5% in the 3rd quarter. Ninety One UK Ltd now owns 188,189 shares of the mining company's stock worth $31,703,000 after purchasing an additional 149,506 shares during the last quarter. Gunderson Capital Management Inc. grew its stake in shares of Agnico Eagle Mines by 187.6% in the 4th quarter. Gunderson Capital Management Inc. now owns 48,104 shares of the mining company's stock worth $8,155,000 after purchasing an additional 31,378 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC raised its holdings in shares of Agnico Eagle Mines by 1,560.8% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 48,677 shares of the mining company's stock worth $8,205,000 after purchasing an additional 45,746 shares in the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AEM has been the topic of several research reports. Weiss Ratings raised Agnico Eagle Mines from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday, April 13th. Canadian Imperial Bank of Commerce decreased their target price on Agnico Eagle Mines from $312.00 to $304.00 and set an "outperform" rating on the stock in a report on Tuesday, April 21st. TD Securities boosted their target price on Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a "buy" rating in a research report on Tuesday, March 3rd. UBS Group reduced their target price on Agnico Eagle Mines from $240.00 to $210.00 and set a "neutral" rating for the company in a report on Friday, March 27th. Finally, Wall Street Zen lowered Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research report on Saturday, April 11th. One equities research 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 company's stock. According to MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of "Moderate Buy" and an average target price of $239.36.

Agnico Eagle Mines Stock Up 1.6%

Shares of AEM traded up $2.91 during midday trading on Thursday, reaching $186.47. 281,059 shares of the stock were exchanged, compared to its average volume of 2,706,127. The company has a market cap of $93.34 billion, a price-to-earnings ratio of 21.00, a P/E/G ratio of 9.91 and a beta of 0.71. The firm has a 50 day simple moving average of $212.49 and a 200-day simple moving average of $191.78. Agnico Eagle Mines Limited has a 12-month low of $103.38 and a 12-month high of $255.24. 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:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 EPS for the quarter, topping 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 net margin of 37.47% and a return on equity of 18.09%. Agnico Eagle Mines's quarterly revenue was up 60.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.26 EPS. Research analysts forecast that Agnico Eagle Mines Limited will post 12.98 EPS for the current year.

Agnico Eagle Mines Increases Dividend

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

Agnico Eagle Mines Company 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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