D.A. Davidson & CO. Boosts Stake in Agnico Eagle Mines Limited $AEM

Key Points

• D.A. Davidson & CO. boosted its stake in Agnico Eagle Mines (AEM) by 21.3%, adding 5,777 shares to hold 32,868 shares worth about $5.57M at quarter-end.
• Wall Street consensus is a Moderate Buy with an average target of $239.36; recent analyst moves include TD Securities raising its target to $251 while other firms issued mixed hold/target adjustments.
• AEM beat quarterly estimates with $2.69 EPS (vs. $2.56 expected) and revenue up 60.3% year-over-year, and increased its quarterly dividend to $0.45 (annualized $1.80, ~1.0% yield).

D.A. Davidson & CO. grew its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 21.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,868 shares of the mining company's stock after buying an additional 5,777 shares during the period. D.A. Davidson & CO.'s holdings in Agnico Eagle Mines were worth $5,572,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Salvus Wealth Management LLC boosted its position in Agnico Eagle Mines by 0.9% during the fourth quarter. Salvus Wealth Management LLC now owns 6,301 shares of the mining company's stock worth $1,068,000 after acquiring an additional 57 shares during the last quarter. Brookwood Investment Group LLC boosted its position in Agnico Eagle Mines by 4.5% during the fourth quarter. Brookwood Investment Group LLC now owns 1,361 shares of the mining company's stock worth $231,000 after acquiring an additional 58 shares during the last quarter. Baron Wealth Management LLC boosted its position in Agnico Eagle Mines by 3.2% during the fourth quarter. Baron Wealth Management LLC now owns 1,879 shares of the mining company's stock worth $319,000 after acquiring an additional 59 shares during the last quarter. Baker Ellis Asset Management LLC boosted its holdings in Agnico Eagle Mines by 0.8% in 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 purchasing an additional 63 shares during the last quarter. Finally, HB Wealth Management LLC boosted its holdings in Agnico Eagle Mines by 1.2% in the 3rd quarter. HB Wealth Management LLC now owns 5,640 shares of the mining company's stock valued at $951,000 after purchasing an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company's stock.

Wall Street Analysts Forecast Growth

AEM has been the topic of several recent analyst reports. TD Securities boosted their target price on shares of Agnico Eagle Mines from $241.00 to $251.00 and gave the company a "buy" rating in a report on Tuesday, March 3rd. Erste Group Bank lowered shares of Agnico Eagle Mines from a "buy" rating to a "hold" rating in a report on Tuesday, March 24th. Raymond James Financial reiterated an "outperform" rating and issued a $225.00 target price on shares of Agnico Eagle Mines in a report on Wednesday, January 14th. Wall Street Zen lowered shares of Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a report on Saturday, April 11th. Finally, Canadian Imperial Bank of Commerce decreased their target price on shares of Agnico Eagle Mines from $312.00 to $304.00 and set an "outperform" rating on the stock in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $239.36.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $183.27 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.02 and a quick ratio of 1.33. The firm has a market capitalization of $91.74 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 9.91 and a beta of 0.71. The company's 50-day moving average is $212.49 and its two-hundred day moving average is $191.78. 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 released its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.56 by $0.13. The business had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.40 billion. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.09%. The business's revenue was up 60.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.26 EPS. Analysts forecast that Agnico Eagle Mines Limited will post 12.98 EPS for the current year.

Agnico Eagle Mines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were paid a $0.45 dividend. This is a positive change from Agnico Eagle Mines's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. Agnico Eagle Mines's payout ratio is presently 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.

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