Baader Bank Aktiengesellschaft Purchases 2,340 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Key Points

• Baader Bank Aktiengesellschaft increased its holdings in Agnico Eagle Mines Limited by 58.5% in Q1, owning 6,340 shares worth $687,000 as per their latest SEC filing.
• Multiple institutional investors are actively adjusting their positions in Agnico Eagle Mines, with hedge funds owning 68.34% of the company's stock.
• Agnico Eagle Mines recently reported strong earnings, with a profit of $1.94 per share for the quarter, surpassing expectations and marking a 35.6% year-over-year revenue increase.

Baader Bank Aktiengesellschaft boosted its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 58.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,340 shares of the mining company's stock after acquiring an additional 2,340 shares during the period. Baader Bank Aktiengesellschaft's holdings in Agnico Eagle Mines were worth $687,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in Agnico Eagle Mines by 11.5% in the 4th 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. Prudential Financial Inc. lifted its stake in Agnico Eagle Mines by 21.6% in the fourth quarter. Prudential Financial Inc. now owns 33,637 shares of the mining company's stock worth $2,630,000 after acquiring an additional 5,967 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in Agnico Eagle Mines by 5.9% during the 4th quarter. Orion Portfolio Solutions LLC now owns 3,268 shares of the mining company's stock worth $256,000 after acquiring an additional 183 shares in the last quarter. Schroder Investment Management Group grew its holdings in Agnico Eagle Mines by 52.9% during the 4th quarter. Schroder Investment Management Group now owns 351,274 shares of the mining company's stock worth $27,347,000 after acquiring an additional 121,502 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in shares of Agnico Eagle Mines by 6.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,919 shares of the mining company's stock valued at $243,000 after purchasing an additional 174 shares during the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. TD Securities raised Agnico Eagle Mines to a "strong-buy" rating in a research report on Thursday, July 17th. Royal Bank Of Canada upped their price target on Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Scotiabank reissued an "outperform" rating on shares of Agnico Eagle Mines in a report on Monday, April 14th. National Bankshares restated an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, June 24th. Finally, UBS Group boosted their price target on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, April 11th. Two 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $136.90.

Agnico Eagle Mines Stock Up 0.7%

NYSE AEM traded up $0.85 during trading on Friday, reaching $125.21. 3,799,236 shares of the company's stock were exchanged, compared to its average volume of 2,426,875. The company has a current ratio of 2.03, a quick ratio of 1.20 and a debt-to-equity ratio of 0.03. Agnico Eagle Mines Limited has a fifty-two week low of $69.72 and a fifty-two week high of $129.77. The company's fifty day simple moving average is $121.09 and its 200-day simple moving average is $109.95. The firm has a market capitalization of $62.96 billion, a PE ratio of 21.29, a P/E/G ratio of 0.88 and a beta of 0.44.

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 EPS for the quarter, beating the consensus estimate of $1.83 by $0.11. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%. The business had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $2.46 billion. During the same quarter in the previous year, the business posted $1.07 EPS. The firm's quarterly revenue was up 35.6% compared to the same quarter last year. Sell-side analysts predict 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 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 payout ratio is 34.04%.

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.