Aubrey Capital Management Ltd Buys New Position in Agnico Eagle Mines Limited $AEM

Key Points

• Aubrey Capital Management Ltd initiated a new position in Agnico Eagle Mines in the fourth quarter, buying 5,294 shares valued at about $908,000.
• Other institutional investors also added to their stakes, and institutions/hedge funds now own 68.34% of Agnico Eagle Mines’ stock.
• The company reported better-than-expected Q1 results with earnings of $3.40 per share versus estimates of $3.19, and revenue of $4 billion versus $3.96 billion expected. It also declared a quarterly dividend of $0.45 per share, payable June 15.

Aubrey Capital Management Ltd bought a new stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,294 shares of the mining company's stock, valued at approximately $908,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Salvus Wealth Management LLC increased its stake in shares of Agnico Eagle Mines by 0.9% during the 4th quarter. Salvus Wealth Management LLC now owns 6,301 shares of the mining company's stock valued at $1,068,000 after acquiring an additional 57 shares during the last quarter. Brookwood Investment Group LLC increased its stake in shares of Agnico Eagle Mines by 4.5% during the 4th quarter. Brookwood Investment Group LLC now owns 1,361 shares of the mining company's stock valued at $231,000 after acquiring an additional 58 shares during the last quarter. Baron Wealth Management LLC increased its stake in shares of Agnico Eagle Mines by 3.2% during the 4th quarter. Baron Wealth Management LLC now owns 1,879 shares of the mining company's stock valued at $319,000 after acquiring an additional 59 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Agnico Eagle Mines by 1.1% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,266 shares of the mining company's stock valued at $893,000 after acquiring an additional 59 shares during the last quarter. Finally, Baker Ellis Asset Management LLC increased its stake in shares of Agnico Eagle Mines by 0.8% during the 4th quarter. Baker Ellis Asset Management LLC now owns 7,550 shares of the mining company's stock valued at $1,280,000 after acquiring an additional 63 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AEM shares. Weiss Ratings downgraded shares of Agnico Eagle Mines from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Wednesday, April 29th. ATB Cormark Capital Markets raised shares of Agnico Eagle Mines from a "hold" rating to an "outperform" rating in a research note on Monday, May 4th. TD upped their price objective on shares of Agnico Eagle Mines from $251.00 to $252.00 and gave the company a "buy" rating in a research note on Tuesday, April 21st. Scotiabank reiterated an "outperform" rating and set a $280.00 target price on shares of Agnico Eagle Mines in a report on Tuesday, February 17th. Finally, Raymond James Financial reissued an "outperform" rating and set a $225.00 target price on shares of Agnico Eagle Mines in a research report on Wednesday, January 14th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, Agnico Eagle Mines has a consensus rating of "Moderate Buy" and an average target price of $238.18.

Agnico Eagle Mines Stock Up 0.1%

AEM opened at $193.34 on Monday. The company has a market cap of $96.77 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 4.23 and a beta of 0.58. Agnico Eagle Mines Limited has a 1 year low of $103.38 and a 1 year high of $255.24. The firm has a 50 day moving average price of $208.63 and a 200 day moving average price of $192.16. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, topping analysts' consensus estimates of $3.19 by $0.21. The firm had revenue of $4 billion during the quarter, compared to analysts' expectations of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.Agnico Eagle Mines's quarterly revenue was up 66.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.53 EPS. Sell-side analysts expect that Agnico Eagle Mines Limited will post 13.09 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, June 1st. Agnico Eagle Mines's dividend payout ratio is currently 16.92%.

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.

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