Horizon Investments LLC Acquires 6,790 Shares of Agnico Eagle Mines Limited $AEM

Key Points

• Horizon Investments LLC increased its position in Agnico Eagle by 2,737.9% in the fourth quarter, adding 6,790 shares to hold 7,038 shares valued at about $1.19 million.
• Agnico Eagle beat quarterly expectations, reporting $3.40 EPS versus $3.19 expected and $4.0 billion in revenue (up 66.1% year‑over‑year), with a market cap near $95 billion and a P/E around 17.8.
• Analyst and institutional view: the stock carries a consensus "Moderate Buy" rating with an average target of $238.18, and institutional investors own roughly 68.34% of the company.

Horizon Investments LLC increased its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 2,737.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,038 shares of the mining company's stock after acquiring an additional 6,790 shares during the period. Horizon Investments LLC's holdings in Agnico Eagle Mines were worth $1,193,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AEM. Capital World Investors grew its stake in shares of Agnico Eagle Mines by 20.0% in the 3rd quarter. Capital World Investors now owns 20,765,804 shares of the mining company's stock worth $3,497,470,000 after buying an additional 3,462,968 shares during the last quarter. Lazard Asset Management LLC raised its stake in Agnico Eagle Mines by 566.2% during the third quarter. Lazard Asset Management LLC now owns 888,239 shares of the mining company's stock valued at $149,593,000 after buying an additional 754,919 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Agnico Eagle Mines by 5.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,712,397 shares of the mining company's stock valued at $1,974,242,000 after buying an additional 602,489 shares during the last quarter. Korea Investment CORP boosted its holdings in Agnico Eagle Mines by 138.5% in the third quarter. Korea Investment CORP now owns 972,595 shares of the mining company's stock worth $163,847,000 after acquiring an additional 564,723 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in Agnico Eagle Mines in the third quarter worth $68,467,000. Hedge funds and other institutional investors own 68.34% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on AEM. Scotiabank restated an "outperform" rating and set a $280.00 price target on shares of Agnico Eagle Mines in a report on Tuesday, February 17th. Zacks Research cut shares of Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. JPMorgan Chase & Co. increased their price objective on shares of Agnico Eagle Mines from $220.00 to $222.00 and gave the company a "neutral" 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 note 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 for the company in a report on Tuesday, April 21st. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $238.18.

Agnico Eagle Mines Price Performance

NYSE AEM opened at $189.78 on Thursday. Agnico Eagle Mines Limited has a one year low of $103.38 and a one year high of $255.24. The stock has a 50-day moving average of $209.76 and a 200 day moving average of $192.07. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 3.15. The company has a market capitalization of $94.98 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 3.94 and a beta of 0.58.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, topping analysts' consensus estimates of $3.19 by $0.21. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same period in the previous year, the business posted $1.53 earnings per share. The business's revenue for the quarter was up 66.1% on a year-over-year basis. On average, sell-side analysts forecast that Agnico Eagle Mines Limited will post 12.95 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.45 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.80 annualized dividend and a yield of 0.9%. Agnico Eagle Mines's dividend payout ratio (DPR) is currently 16.92%.

Agnico Eagle Mines 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.

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.