Assetmark Inc. Boosts Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Key Points

• Assetmark Inc. increased its holdings in Agnico Eagle Mines Limited by 159.2%, acquiring an additional 3,886 shares, bringing its total to 6,327 shares valued at $686,000.
• Agnico Eagle Mines reported earnings of $1.94 per share for the last quarter, surpassing expectations of $1.83, with revenue rising 35.6% year-over-year to $2.86 billion.
• The company declared a dividend of $0.40 per share with a significant yield of 136.0%, indicating a solid performance amidst growing institutional investment interest.

Assetmark Inc. increased its position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 159.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,327 shares of the mining company's stock after buying an additional 3,886 shares during the quarter. Assetmark Inc.'s holdings in Agnico Eagle Mines were worth $686,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Capital World Investors raised its position in Agnico Eagle Mines by 41.9% in the fourth quarter. Capital World Investors now owns 13,952,061 shares of the mining company's stock valued at $1,091,550,000 after purchasing an additional 4,121,164 shares during the period. Geode Capital Management LLC grew its stake in shares of Agnico Eagle Mines by 33.2% in the fourth quarter. Geode Capital Management LLC now owns 3,006,646 shares of the mining company's stock worth $239,844,000 after acquiring an additional 749,932 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Agnico Eagle Mines by 304.5% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 913,936 shares of the mining company's stock worth $71,465,000 after acquiring an additional 687,971 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Agnico Eagle Mines in the fourth quarter worth $52,503,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Agnico Eagle Mines in the fourth quarter worth $46,799,000. Hedge funds and other institutional investors own 68.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AEM shares. 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. TD Securities upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a research note on Thursday, July 17th. BMO Capital Markets assumed coverage on shares of Agnico Eagle Mines in a research note on Wednesday, April 16th. They set an "outperform" rating and a $181.00 target price for the company. CIBC reiterated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. Finally, Scotiabank reiterated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $136.90.

Agnico Eagle Mines Stock Performance

NYSE AEM traded up $0.19 during trading hours on Wednesday, hitting $134.74. The company had a trading volume of 1,479,277 shares, compared to its average volume of 3,000,632. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03. Agnico Eagle Mines Limited has a 1-year low of $71.93 and a 1-year high of $135.97. The company has a market cap of $67.75 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 0.91 and a beta of 0.44. The business has a 50 day moving average of $121.73 and a 200-day moving average of $110.80.

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

Agnico Eagle Mines Announces Dividend

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

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.