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Regal Partners Ltd Has $28.47 Million Stock Position in Agnico Eagle Mines Limited $AEM

Agnico Eagle Mines logo with Basic Materials background
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Key Points

  • Regal Partners increased its stake in Agnico Eagle by 18.0% to 168,922 shares, a position worth about $28.47 million and representing 2.0% of the fund's holdings (its 14th largest holding).
  • Agnico Eagle beat quarterly estimates with $2.69 EPS (vs. $2.56 expected) and $3.53B revenue (up 60.3% year-over-year), and it raised its quarterly dividend to $0.45 ($1.80 annualized, 0.8% yield).
  • Analyst sentiment is broadly positive with a consensus "Buy" rating and an average price target of about $234.91, though some firms (e.g., JPMorgan) have trimmed their targets recently.
  • Five stocks we like better than Agnico Eagle Mines.

Regal Partners Ltd grew its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 18.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 168,922 shares of the mining company's stock after acquiring an additional 25,764 shares during the period. Agnico Eagle Mines comprises 2.0% of Regal Partners Ltd's holdings, making the stock its 14th largest holding. Regal Partners Ltd's holdings in Agnico Eagle Mines were worth $28,473,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of AEM. CreativeOne Wealth LLC bought a new stake in shares of Agnico Eagle Mines in the third quarter worth $354,000. Natixis Advisors LLC raised its position in Agnico Eagle Mines by 2.3% during the 3rd quarter. Natixis Advisors LLC now owns 84,763 shares of the mining company's stock worth $14,288,000 after purchasing an additional 1,923 shares during the last quarter. Korea Investment CORP lifted 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 worth $163,847,000 after buying an additional 564,723 shares during the period. Munich Reinsurance Co Stock Corp in Munich acquired a new position in Agnico Eagle Mines during the 3rd quarter worth about $149,000. Finally, Blair William & Co. IL grew its position in shares of Agnico Eagle Mines by 10.5% in the 3rd quarter. Blair William & Co. IL now owns 17,251 shares of the mining company's stock valued at $2,908,000 after buying an additional 1,634 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company's stock.

Analyst Ratings Changes

AEM has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price target on Agnico Eagle Mines from $248.00 to $235.00 and set a "neutral" rating for the company in a research note on Wednesday, February 18th. Canadian Imperial Bank of Commerce set a $296.00 price objective on Agnico Eagle Mines and gave the stock an "outperform" rating in a research note on Wednesday, February 4th. Wall Street Zen cut Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a report on Saturday, January 31st. Zacks Research raised shares of Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 27th. Finally, UBS Group restated a "neutral" rating and set a $240.00 price target on shares of Agnico Eagle Mines in a report on Friday, January 30th. Four investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $234.91.

Read Our Latest Analysis on Agnico Eagle Mines

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $220.80 on Friday. The business has a 50-day moving average price of $207.52 and a two-hundred day moving average price of $178.38. Agnico Eagle Mines Limited has a 1-year low of $94.77 and a 1-year high of $255.24. The company has a current ratio of 2.02, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a market cap of $110.63 billion, a P/E ratio of 24.86 and a beta of 0.61.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the previous year, the business earned $1.26 EPS. The firm's revenue was up 60.3% compared to the same quarter last year. As a group, analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Increases Dividend

The firm 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 $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 0.8%. This is a boost from Agnico Eagle Mines's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Monday, March 2nd. Agnico Eagle Mines's payout ratio is presently 20.27%.

Key Stories Impacting Agnico Eagle Mines

Here are the key news stories impacting Agnico Eagle Mines this week:

Agnico Eagle Mines Profile

(Free Report)

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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Institutional Ownership by Quarter for Agnico Eagle Mines (NYSE:AEM)

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.

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