Capital Wealth Planning LLC Boosts Holdings in Agnico Eagle Mines Limited $AEM

Key Points

• Capital Wealth Planning LLC increased its stake in Agnico Eagle Mines (AEM) by 2.7% to 2,521,355 shares—about $425 million and 3.0% of the firm's portfolio (its 16th largest holding).
• AEM reported an earnings beat, with quarterly EPS of $2.69 vs. $2.56 expected and revenue of $3.53B vs. $3.40B, as revenue rose 60.3% year‑over‑year.
• Analyst consensus is a "Buy" with an average price target of $234.91, and the company raised its quarterly dividend to $0.45 (annualized $1.80, ~0.9% yield).

Capital Wealth Planning LLC increased its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 2.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,521,355 shares of the mining company's stock after purchasing an additional 65,610 shares during the quarter. Agnico Eagle Mines accounts for 3.0% of Capital Wealth Planning LLC's portfolio, making the stock its 16th largest position. Capital Wealth Planning LLC owned 0.50% of Agnico Eagle Mines worth $425,000,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AEM. True Wealth Design LLC lifted its holdings in Agnico Eagle Mines by 381.3% in the 3rd quarter. True Wealth Design LLC now owns 154 shares of the mining company's stock worth $26,000 after buying an additional 122 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in Agnico Eagle Mines in the 2nd quarter valued at about $29,000. Blue Bell Private Wealth Management LLC grew its stake in shares of Agnico Eagle Mines by 59.7% during the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company's stock valued at $33,000 after acquiring an additional 74 shares in the last quarter. MCF Advisors LLC purchased a new stake in shares of Agnico Eagle Mines during the third quarter worth about $34,000. Finally, Caitlin John LLC purchased a new stake in shares of Agnico Eagle Mines during the third quarter worth about $36,000. Hedge funds and other institutional investors own 68.34% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on AEM shares. Raymond James Financial reissued an "outperform" rating and issued a $225.00 price target on shares of Agnico Eagle Mines in a report on Wednesday, January 14th. Wall Street Zen downgraded Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a report on Saturday, January 31st. Royal Bank Of Canada cut Agnico Eagle Mines from an "outperform" rating to a "sector perform" rating and increased their target price for the company from $185.00 to $205.00 in a research note on Wednesday, December 10th. Canadian Imperial Bank of Commerce set a $296.00 price target on shares of Agnico Eagle Mines and gave the stock an "outperform" rating in a research report on Wednesday, February 4th. Finally, Erste Group Bank upgraded shares of Agnico Eagle Mines from a "hold" rating to a "buy" rating in a research note on Thursday, March 5th. Four research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, Agnico Eagle Mines presently has an average rating of "Buy" and an average price target of $234.91.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $207.39 on Friday. The company has a market cap of $103.91 billion, a P/E ratio of 23.36 and a beta of 0.61. The business has a 50 day moving average of $212.49 and a two-hundred day moving average of $181.00. Agnico Eagle Mines Limited has a 52 week low of $94.77 and a 52 week high of $255.24. 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 (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, topping analysts' consensus estimates of $2.56 by $0.13. The business had revenue of $3.53 billion for the quarter, compared to analysts' expectations of $3.40 billion. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The business's quarterly revenue was up 60.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.26 EPS. As a group, analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a $0.45 dividend. The ex-dividend date is Monday, March 2nd. This is a positive change from Agnico Eagle Mines's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 0.9%. Agnico Eagle Mines's dividend payout ratio (DPR) is 20.27%.

About Agnico Eagle Mines

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.