FORA Capital LLC Makes New Investment in Agnico Eagle Mines Limited $AEM

Key Points

• FORA Capital LLC purchased 21,832 shares of Agnico Eagle Mines Limited, valued at approximately $2.37 million, during the first quarter.
• Agnico Eagle Mines reported $1.94 EPS for the quarter, exceeding analysts' expectations and showing a 35.6% year-over-year revenue increase to $2.86 billion.
• The company announced a $0.40 per share dividend scheduled for payment on September 15th, reflecting a yield of 120.0%.

FORA Capital LLC bought a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 21,832 shares of the mining company's stock, valued at approximately $2,367,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. TD Asset Management Inc raised its holdings in shares of Agnico Eagle Mines by 42.8% during the first quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company's stock valued at $978,553,000 after purchasing an additional 2,709,005 shares during the period. Nuveen LLC purchased a new position in shares of Agnico Eagle Mines in the first quarter worth about $85,926,000. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Agnico Eagle Mines by 304.5% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 913,936 shares of the mining company's stock valued at $71,465,000 after buying an additional 687,971 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Agnico Eagle Mines by 11.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company's stock valued at $728,214,000 after acquiring an additional 673,400 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Agnico Eagle Mines in the fourth quarter worth approximately $46,799,000. Institutional investors and hedge funds own 68.34% of the company's stock.

Agnico Eagle Mines Stock Up 3.7%

Shares of NYSE:AEM traded up $5.12 during midday trading on Friday, hitting $144.23. 2,801,181 shares of the stock were exchanged, compared to its average volume of 2,361,428. The company has a market capitalization of $72.52 billion, a PE ratio of 24.53, a P/E/G ratio of 0.95 and a beta of 0.44. The business's fifty day simple moving average is $127.10 and its two-hundred day simple moving average is $116.00. Agnico Eagle Mines Limited has a 52-week low of $75.17 and a 52-week high of $144.78. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.11. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The business had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $2.46 billion. During the same period in the previous year, the company earned $1.07 earnings per share. Agnico Eagle Mines's revenue for the quarter was up 35.6% on a year-over-year basis. As a group, research analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on AEM shares. Royal Bank Of Canada raised their price objective on Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Raymond James Financial upgraded Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price target on the stock in a research report on Monday, June 30th. Bank of America increased their price target on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. National Bankshares restated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. Finally, TD Securities upgraded Agnico Eagle Mines to a "strong-buy" rating in a research note on Thursday, July 17th. Five research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $136.90.

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.