Agnico Eagle Mines Limited (NYSE:AEM) is Cheviot Value Management LLC's 3rd Largest Position

Key Points

• Cheviot Value Management LLC increased its stake in Agnico Eagle Mines Limited by 2.5%, now holding 483,538 shares, which constitutes 6.7% of its investment portfolio.
• Agnico Eagle Mines reported a 35.6% year-over-year revenue increase for the quarter, with earnings per share of $1.94, surpassing expectations.
• The company recently announced a $0.40 dividend with a yield of 136.0%, reflecting a conservative payout ratio of 34.04%.

Cheviot Value Management LLC grew its position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 2.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 483,538 shares of the mining company's stock after purchasing an additional 11,751 shares during the period. Agnico Eagle Mines makes up about 6.7% of Cheviot Value Management LLC's investment portfolio, making the stock its 3rd largest position. Cheviot Value Management LLC owned approximately 0.10% of Agnico Eagle Mines worth $55,268,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Agnico Eagle Mines in the first quarter worth about $26,000. Private Trust Co. NA lifted its position in shares of Agnico Eagle Mines by 454.9% in the 1st quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock worth $31,000 after acquiring an additional 232 shares during the period. Golden State Wealth Management LLC bought a new position in Agnico Eagle Mines in the first quarter worth $34,000. Hexagon Capital Partners LLC raised its stake in shares of Agnico Eagle Mines by 31.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 367 shares of the mining company's stock valued at $40,000 after buying an additional 87 shares in the last quarter. Finally, Continuum Advisory LLC increased its stake in Agnico Eagle Mines by 47.0% in the first quarter. Continuum Advisory LLC now owns 397 shares of the mining company's stock valued at $43,000 after acquiring an additional 127 shares during the period. Institutional investors and hedge funds own 68.34% of the company's stock.

Agnico Eagle Mines Stock Up 0.1%

Shares of NYSE AEM traded up $0.09 during mid-day trading on Thursday, hitting $135.51. 883,254 shares of the stock traded hands, compared to its average volume of 2,991,618. Agnico Eagle Mines Limited has a 52 week low of $71.93 and a 52 week high of $137.19. The company has a market cap of $68.13 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 0.93 and a beta of 0.44. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03. The stock has a fifty day moving average price of $122.08 and a 200-day moving average price of $110.97.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.11. The company had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.46 billion. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. Agnico Eagle Mines's revenue was up 35.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.07 EPS. Research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The firm also recently declared a dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.40 dividend. This represents a dividend yield of 136.0%. The ex-dividend date was Friday, May 30th. Agnico Eagle Mines's dividend payout ratio is presently 27.21%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. National Bankshares reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. TD Securities raised shares of Agnico Eagle Mines to a "strong-buy" rating in a report on Thursday, July 17th. Raymond James Financial upgraded Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price objective on the stock in a research report on Monday, June 30th. Bank of America lifted their price objective on Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Finally, UBS Group boosted their price target on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, Agnico Eagle Mines presently has an average rating of "Buy" and a consensus target price of $136.90.

Agnico Eagle Mines Company Profile

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