OLD Second National Bank of Aurora Raises Stock Holdings in Agnico Eagle Mines Limited $AEM

Key Points

• OLD Second National Bank of Aurora raised its position by 469.7% in the fourth quarter, adding 5,951 shares to hold 7,218 AEM shares worth about $1.224 million.
• Agnico Eagle beat Q4 estimates with EPS of $2.69 (vs. $2.56) and revenue of $3.53 billion (up 60.3% YoY), and the company raised its quarterly dividend to $0.45 ($1.80 annualized, ~0.8% yield).
• Institutional ownership is high (68.34%), with major increases from funds like Capital World Investors, Lazard and MFS, and analysts hold a consensus "Moderate Buy" with an average target of $237.30.

OLD Second National Bank of Aurora raised its position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 469.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,218 shares of the mining company's stock after acquiring an additional 5,951 shares during the period. OLD Second National Bank of Aurora's holdings in Agnico Eagle Mines were worth $1,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Capital World Investors raised its holdings in Agnico Eagle Mines by 20.0% during the 3rd quarter. Capital World Investors now owns 20,765,804 shares of the mining company's stock valued at $3,497,470,000 after buying an additional 3,462,968 shares during the period. Lazard Asset Management LLC raised its holdings in Agnico Eagle Mines by 566.2% during the 3rd 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 period. Massachusetts Financial Services Co. MA raised its holdings in Agnico Eagle Mines by 5.4% during the 3rd 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 period. Korea Investment CORP raised its holdings in Agnico Eagle Mines by 138.5% during the 3rd quarter. Korea Investment CORP now owns 972,595 shares of the mining company's stock valued at $163,847,000 after buying an additional 564,723 shares during the period. Finally, Quadrature Capital Ltd purchased a new stake in Agnico Eagle Mines during the 3rd quarter valued at $68,467,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Performance

AEM stock opened at $220.23 on Friday. The company has a quick ratio of 1.33, a current ratio of 2.02 and a debt-to-equity ratio of 0.01. The business's fifty day simple moving average is $214.87 and its two-hundred day simple moving average is $189.87. Agnico Eagle Mines Limited has a twelve month low of $103.38 and a twelve month high of $255.24. The firm has a market cap of $110.34 billion, a price-to-earnings ratio of 24.80 and a beta of 0.71.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, topping analysts' consensus estimates of $2.56 by $0.13. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The business had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same quarter last year, the firm posted $1.26 earnings per share. The business's revenue was up 60.3% compared to the same quarter last year. Analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a $0.45 dividend. The ex-dividend date was Monday, March 2nd. This is a positive change from Agnico Eagle Mines's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 0.8%. Agnico Eagle Mines's payout ratio is 20.27%.

Analysts Set New Price Targets

AEM has been the topic of several recent research reports. Raymond James Financial restated an "outperform" rating and set a $225.00 price target on shares of Agnico Eagle Mines in a report on Wednesday, January 14th. Zacks Research lowered Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a report on Monday, March 30th. Erste Group Bank lowered Agnico Eagle Mines from a "buy" rating to a "hold" rating in a report on Tuesday, March 24th. UBS Group decreased their price target on Agnico Eagle Mines from $240.00 to $210.00 and set a "neutral" rating on the stock in a report on Friday, March 27th. Finally, Canadian Imperial Bank of Commerce set a $296.00 price target on Agnico Eagle Mines and gave the company an "outperform" rating in a report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Agnico Eagle Mines has a consensus rating of "Moderate Buy" and an average target price of $237.30.

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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