63,677 Shares in Agnico Eagle Mines Limited (NYSE:AEM) Acquired by Ninepoint Partners LP

Ninepoint Partners LP acquired a new stake 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 Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 63,677 shares of the mining company's stock, valued at approximately $6,903,000. Agnico Eagle Mines accounts for about 1.1% of Ninepoint Partners LP's investment portfolio, making the stock its 10th biggest holding.

A number of other hedge funds have also recently modified their holdings of the company. DAVENPORT & Co LLC purchased a new stake in shares of Agnico Eagle Mines in the 1st quarter worth $226,000. Bank of New York Mellon Corp raised its stake in Agnico Eagle Mines by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 485,317 shares of the mining company's stock valued at $52,613,000 after purchasing an additional 5,717 shares in the last quarter. Private Trust Co. NA lifted its stake in shares of Agnico Eagle Mines by 454.9% in the 1st quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock valued at $31,000 after purchasing an additional 232 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Agnico Eagle Mines in the 1st quarter worth about $34,000. Finally, Captrust Financial Advisors grew its stake in shares of Agnico Eagle Mines by 6.5% during the fourth quarter. Captrust Financial Advisors now owns 5,663 shares of the mining company's stock valued at $443,000 after buying an additional 347 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AEM. Royal Bank Of Canada raised their price target on Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Scotiabank reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a report on Monday, April 14th. Citigroup increased their price objective on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a "buy" rating in a research note on Monday, March 31st. CIBC reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, July 15th. Finally, UBS Group lifted their price objective on Agnico Eagle Mines from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of "Buy" and an average target price of $136.90.

Agnico Eagle Mines Trading Up 0.9%

Shares of AEM stock traded up $1.17 on Friday, hitting $126.96. 3,436,973 shares of the stock traded hands, compared to its average volume of 2,336,318. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.20 and a current ratio of 2.37. Agnico Eagle Mines Limited has a twelve month low of $69.72 and a twelve month high of $129.77. The firm's 50-day moving average price is $120.00 and its two-hundred day moving average price is $108.71. The stock has a market capitalization of $63.84 billion, a PE ratio of 27.01, a PEG ratio of 0.91 and a beta of 0.50.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its earnings results on Thursday, April 24th. The mining company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.14. The company had revenue of $2.38 billion during the quarter, compared to analysts' expectations of $2.27 billion. Agnico Eagle Mines had a return on equity of 12.09% and a net margin of 26.48%. The firm's quarterly revenue was up 34.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.76 earnings per share. As a group, analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The business also recently announced a dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a yield of 1.36%. Agnico Eagle Mines's dividend payout ratio (DPR) is presently 34.04%.

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.