Orion Porfolio Solutions LLC Boosts Stock Position in Agnico Eagle Mines Limited $AEM

Key Points

• Orion Portfolio Solutions LLC boosted its stake in Agnico Eagle Mines by 57.1% in Q3 to 18,606 shares valued at about $3.14 million, amid heavy institutional ownership (68.34%).
• Agnico Eagle beat expectations for the quarter with EPS $2.69 vs. $2.56 and revenue $3.53B vs. $3.40B (revenue up 60.3% YoY), and the company raised its quarterly dividend to $0.45 (annualized $1.80, yield ~0.8%).
• Analysts have an average rating of Buy with a consensus price target of $234.91; shares recently traded around $225.28 and the company has a market cap of about $112.9 billion (PE ~25.4).

Orion Porfolio Solutions LLC boosted its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 57.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,606 shares of the mining company's stock after purchasing an additional 6,760 shares during the quarter. Orion Porfolio Solutions LLC's holdings in Agnico Eagle Mines were worth $3,136,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AEM. Vanguard Group Inc. grew its holdings in shares of Agnico Eagle Mines by 1.2% during the third quarter. Vanguard Group Inc. now owns 20,669,949 shares of the mining company's stock worth $3,481,382,000 after buying an additional 252,043 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of 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 period. TD Asset Management Inc boosted its position in Agnico Eagle Mines by 1.5% during the third quarter. TD Asset Management Inc now owns 9,500,193 shares of the mining company's stock worth $1,600,436,000 after acquiring an additional 143,645 shares during the last quarter. Mackenzie Financial Corp grew its stake in Agnico Eagle Mines by 1.9% in the 2nd quarter. Mackenzie Financial Corp now owns 8,778,276 shares of the mining company's stock worth $1,046,468,000 after acquiring an additional 160,650 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in Agnico Eagle Mines by 38.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 8,296,796 shares of the mining company's stock worth $987,398,000 after acquiring an additional 2,319,131 shares during the period. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AEM has been the topic of a number of recent analyst reports. Citigroup increased their price target on Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a "buy" rating in a research note on Thursday, January 15th. JPMorgan Chase & Co. lowered their price objective on Agnico Eagle Mines from $248.00 to $235.00 and set a "neutral" rating for the company in a research report on Wednesday, February 18th. Royal Bank Of Canada lowered Agnico Eagle Mines from an "outperform" rating to a "sector perform" rating and upped their target price for the company from $185.00 to $205.00 in a research note on Wednesday, December 10th. Zacks Research raised Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 27th. Finally, Jefferies Financial Group set a $189.00 price target on Agnico Eagle Mines in a report on Sunday, December 7th. Four research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $234.91.

Agnico Eagle Mines Stock Up 1.9%

Shares of AEM opened at $225.28 on Tuesday. Agnico Eagle Mines Limited has a fifty-two week low of $94.77 and a fifty-two week high of $255.24. The company's fifty day moving average is $208.61 and its two-hundred day moving average is $179.31. The firm has a market cap of $112.87 billion, a PE ratio of 25.37 and a beta of 0.61. The company has a quick ratio of 1.33, a current ratio of 2.02 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 EPS 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 during the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the prior year, the firm posted $1.26 EPS. The business's revenue for the quarter was up 60.3% on a year-over-year basis. Analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.45 per share. This is a boost from Agnico Eagle Mines's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, March 2nd. Agnico Eagle Mines's payout ratio is currently 20.27%.

About Agnico Eagle Mines

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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