Agnico Eagle Mines Limited (NYSE:AEM) Shares Purchased by Pinnacle Associates Ltd.

Key Points

• Pinnacle Associates Ltd. increased its stake in Agnico Eagle Mines by 86.5% during the first quarter, owning 6,145 shares worth approximately $666,000.
• Agnico Eagle Mines reported quarterly earnings of $1.53 EPS, surpassing analysts' estimates of $1.39, with revenue increasing 34.9% year-over-year.
• The company recently announced a dividend of $0.40 per share, representing a yield of 1.36%, with an established payout ratio of 34.04%.

Pinnacle Associates Ltd. boosted its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 86.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,145 shares of the mining company's stock after purchasing an additional 2,850 shares during the quarter. Pinnacle Associates Ltd.'s holdings in Agnico Eagle Mines were worth $666,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of AEM. Private Trust Co. NA grew its position in shares of Agnico Eagle Mines by 454.9% during the first quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock worth $31,000 after buying an additional 232 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in Agnico Eagle Mines in the first quarter worth approximately $34,000. Coppell Advisory Solutions LLC grew its holdings in Agnico Eagle Mines by 235.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 469 shares of the mining company's stock worth $37,000 after acquiring an additional 329 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in Agnico Eagle Mines by 31.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 367 shares of the mining company's stock worth $40,000 after acquiring an additional 87 shares in the last quarter. Finally, Continuum Advisory LLC increased its position in shares of Agnico Eagle Mines by 47.0% in the 1st quarter. Continuum Advisory LLC now owns 397 shares of the mining company's stock valued at $43,000 after purchasing an additional 127 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company's stock.

Agnico Eagle Mines Stock Up 0.9%

AEM stock opened at $126.96 on Monday. The company has a fifty day moving average price of $120.00 and a 200 day moving average price of $108.89. Agnico Eagle Mines Limited has a 12 month low of $69.72 and a 12 month high of $129.77. The company has a market cap of $63.84 billion, a price-to-earnings ratio of 27.01, a price-to-earnings-growth ratio of 0.91 and a beta of 0.50. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.37 and a quick ratio of 1.20.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its quarterly earnings data on Thursday, April 24th. The mining company reported $1.53 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.14. Agnico Eagle Mines had a net margin of 26.48% and a return on equity of 12.09%. The company had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the previous year, the business posted $0.76 earnings per share. Agnico Eagle Mines's quarterly revenue was up 34.9% on a year-over-year basis. Sell-side analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Announces Dividend

The business also recently declared a dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $0.40 per share. This represents a dividend yield of 1.36%. The ex-dividend date was Friday, May 30th. Agnico Eagle Mines's dividend payout ratio is currently 34.04%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AEM. Bank of America boosted their target price on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. BMO Capital Markets initiated coverage on Agnico Eagle Mines in a research report on Wednesday, April 16th. They set an "outperform" rating and a $181.00 price objective for the company. CIBC reissued an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, July 15th. Scotiabank restated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Monday, April 14th. Finally, Cfra Research upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and five have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $136.90.

Agnico Eagle Mines 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.

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