Geneva Partners LLC Has $6.14 Million Stock Position in Agnico Eagle Mines Limited $AEM

Key Points

• Geneva Partners LLC boosted its stake in Agnico Eagle by 31.1% in Q4 to 36,235 shares, worth about $6.14 million, making the position roughly 2.2% of the fund and its 16th-largest holding.
• Agnico Eagle reported strong quarterly results—EPS of $3.40 beat estimates by $0.21 and revenue rose ~66.1% to roughly $4 billion—and declared a quarterly dividend of $0.45 (annualized $1.80, ~1.0% yield).
• Analyst sentiment is broadly positive with a consensus rating of “Moderate Buy” (11 Buys, 5 Holds) and a consensus target of $238.18, while recent notable targets include Scotiabank $280 and Raymond James $225.

Geneva Partners LLC grew its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 31.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,235 shares of the mining company's stock after buying an additional 8,606 shares during the quarter. Agnico Eagle Mines accounts for about 2.2% of Geneva Partners LLC's holdings, making the stock its 16th biggest position. Geneva Partners LLC's holdings in Agnico Eagle Mines were worth $6,143,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Blue Bell Private Wealth Management LLC grew its holdings 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 buying an additional 74 shares during the last quarter. MCF Advisors LLC acquired a new position in shares of Agnico Eagle Mines during the third quarter valued at about $34,000. Lodestone Wealth Management LLC acquired a new position in shares of Agnico Eagle Mines during the fourth quarter valued at about $35,000. Abound Wealth Management grew its holdings in shares of Agnico Eagle Mines by 99.0% during the fourth quarter. Abound Wealth Management now owns 209 shares of the mining company's stock valued at $35,000 after buying an additional 104 shares during the last quarter. Finally, Caitlin John LLC bought a new position in shares of Agnico Eagle Mines during the third quarter valued at about $36,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AEM has been the topic of a number of recent analyst reports. ATB Cormark Capital Markets raised shares of Agnico Eagle Mines from a "hold" rating to an "outperform" rating in a research report on Monday. Wall Street Zen lowered shares of Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research report on Saturday, April 11th. Scotiabank reissued an "outperform" rating and set a $280.00 price target on shares of Agnico Eagle Mines in a research report on Tuesday, February 17th. Zacks Research lowered shares of Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. Finally, Raymond James Financial reissued an "outperform" rating and set a $225.00 price target on shares of Agnico Eagle Mines in a research report on Wednesday, January 14th. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $238.18.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $187.77 on Friday. The firm has a market cap of $93.98 billion, a price-to-earnings ratio of 17.65, a P/E/G ratio of 4.16 and a beta of 0.58. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 3.15. Agnico Eagle Mines Limited has a 52 week low of $103.38 and a 52 week high of $255.24. The firm's 50-day simple moving average is $208.63 and its two-hundred day simple moving average is $192.16.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, topping the consensus estimate of $3.19 by $0.21. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The company's revenue for the quarter was up 66.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.53 earnings per share. As a group, equities analysts forecast that Agnico Eagle Mines Limited will post 13.07 earnings per share for the current year.

Agnico Eagle Mines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a $0.45 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.80 annualized dividend and a yield of 1.0%. Agnico Eagle Mines's payout ratio is currently 16.92%.

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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