Assetmark Inc. Has $5.25 Million Stock Position in Agnico Eagle Mines Limited $AEM

Key Points

• Assetmark Inc. increased its stake in Agnico Eagle Mines by 171.4%, buying an additional 19,558 shares to hold 30,968 shares worth about $5.25 million at the end of the quarter.
• Agnico topped estimates with Q results — $2.69 EPS vs. $2.56 expected and revenue of $3.53B (up 60.3% YoY) — and raised its quarterly dividend to $0.45 ($1.80 annualized, 0.8% yield).
• Institutional investors own about 68.34% of the stock; analysts give an average rating of "Moderate Buy" with an average price target of $237.30, and the company has a market cap of ~$110.34B (P/E 24.8).

Assetmark Inc. raised its position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 171.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,968 shares of the mining company's stock after purchasing an additional 19,558 shares during the period. Assetmark Inc.'s holdings in Agnico Eagle Mines were worth $5,250,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AEM. Brighton Jones LLC raised its position in Agnico Eagle Mines by 11.5% during the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company's stock valued at $252,000 after purchasing an additional 331 shares in the last quarter. AQR Capital Management LLC raised its position in Agnico Eagle Mines by 36.4% during the first quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company's stock valued at $2,150,000 after purchasing an additional 5,293 shares in the last quarter. Sivia Capital Partners LLC grew its stake in shares of Agnico Eagle Mines by 57.2% during the second quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company's stock worth $379,000 after buying an additional 1,160 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Agnico Eagle Mines by 8.0% during the second quarter. Rhumbline Advisers now owns 1,810 shares of the mining company's stock worth $215,000 after buying an additional 134 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Agnico Eagle Mines by 25.2% during the second quarter. EverSource Wealth Advisors LLC now owns 929 shares of the mining company's stock worth $110,000 after buying an additional 187 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $220.23 on Friday. 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 Limited has a twelve month low of $103.38 and a twelve month high of $255.24. The stock has a market cap of $110.34 billion, a price-to-earnings ratio of 24.80 and a beta of 0.71. The company's fifty day moving average is $214.87 and its 200 day moving average is $190.02.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.13. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.09%. The company had revenue of $3.53 billion for the quarter, compared to analysts' expectations of $3.40 billion. During the same quarter in the previous year, the firm posted $1.26 earnings per share. Agnico Eagle Mines's revenue for the quarter was up 60.3% on a year-over-year basis. Sell-side analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were paid a $0.45 dividend. This is a positive change from Agnico Eagle Mines's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, March 2nd. Agnico Eagle Mines's payout ratio is presently 20.27%.

Analysts Set New Price Targets

A number of research firms have weighed in on AEM. Weiss Ratings raised shares of Agnico Eagle Mines from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday, April 13th. Wall Street Zen cut shares of Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research note on Saturday, April 11th. Canadian Imperial Bank of Commerce set a $296.00 target price on shares of Agnico Eagle Mines and gave the stock an "outperform" rating in a research note on Wednesday, February 4th. UBS Group decreased their target price on shares of Agnico Eagle Mines from $240.00 to $210.00 and set a "neutral" rating on the stock in a research note on Friday, March 27th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $225.00 target price on shares of Agnico Eagle Mines in a research note on Wednesday, January 14th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $237.30.

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.

Want to see what other hedge funds are holding AEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.