Cadinha & Co. LLC Boosts Stake in Agnico Eagle Mines Limited $AEM

Key Points

• Cadinha & Co. LLC boosted its stake in Agnico Eagle Mines by 249.1% in Q4 to 11,211 shares (an additional 8,000), valued at $1.90 million, while hedge funds and other institutions now own 68.34% of the company.
• Agnico Eagle beat Q results expectations with EPS $2.69 (vs. $2.56 est.) and revenue of $3.53B (+60.3% YoY), and increased its quarterly dividend to $0.45 ($1.80 annual, yield 0.9%).
• Analyst sentiment is positive—several firms raised targets (Citigroup to $256, Scotiabank to $280), leaving an average rating of "Moderate Buy" and an average price target of $239.36.

Cadinha & Co. LLC grew its position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 249.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 11,211 shares of the mining company's stock after acquiring an additional 8,000 shares during the period. Cadinha & Co. LLC's holdings in Agnico Eagle Mines were worth $1,901,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Chicago Partners Investment Group LLC grew its holdings in shares of Agnico Eagle Mines by 23.8% during the 4th quarter. Chicago Partners Investment Group LLC now owns 3,305 shares of the mining company's stock worth $560,000 after acquiring an additional 636 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Agnico Eagle Mines in the 4th quarter worth approximately $280,000. Legacy Capital Group California Inc. grew its stake in shares of Agnico Eagle Mines by 2.6% in the 4th quarter. Legacy Capital Group California Inc. now owns 3,246 shares of the mining company's stock worth $550,000 after buying an additional 83 shares during the last quarter. HB Wealth Management LLC grew its stake in shares of Agnico Eagle Mines by 12.9% in the 4th quarter. HB Wealth Management LLC now owns 6,366 shares of the mining company's stock worth $1,079,000 after buying an additional 726 shares during the last quarter. Finally, Ruffer LLP purchased a new stake in shares of Agnico Eagle Mines in the 4th quarter worth approximately $983,000. Hedge funds and other institutional investors own 68.34% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on AEM. Raymond James Financial restated an "outperform" rating and issued a $225.00 price target on shares of Agnico Eagle Mines in a research note on Wednesday, January 14th. Citigroup upped their price target on Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a "buy" rating in a research note on Thursday, January 15th. Scotiabank restated an "outperform" rating and issued a $280.00 price target on shares of Agnico Eagle Mines in a research note on Tuesday, February 17th. TD upped their price target on Agnico Eagle Mines from $251.00 to $252.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, TD Securities upped their price target on Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a "buy" rating in a research note on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines presently has an average rating of "Moderate Buy" and an average price target of $239.36.

Agnico Eagle Mines Price Performance

NYSE AEM opened at $198.94 on Friday. The business's fifty day moving average price is $214.43 and its 200-day moving average price is $190.88. The stock has a market capitalization of $99.58 billion, a price-to-earnings ratio of 22.40 and a beta of 0.71. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.02 and a quick ratio of 1.33. Agnico Eagle Mines Limited has a 1-year low of $103.38 and a 1-year high of $255.24.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its earnings results on Thursday, February 12th. The mining company reported $2.69 EPS for the quarter, topping analysts' consensus estimates of $2.56 by $0.13. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The company had revenue of $3.53 billion for the quarter, compared to analysts' expectations of $3.40 billion. During the same period last year, the firm earned $1.26 EPS. Agnico Eagle Mines's revenue for the quarter was up 60.3% compared to the same quarter last year. On average, equities analysts predict that Agnico Eagle Mines Limited will post 13.2 earnings per share for the current year.

Agnico Eagle Mines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were issued a $0.45 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.80 dividend on an annualized basis and a yield of 0.9%. This is an increase from Agnico Eagle Mines's previous quarterly dividend of $0.40. Agnico Eagle Mines's payout ratio is 20.27%.

Agnico Eagle Mines Company 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.