RFG Advisory LLC Acquires Shares of 6,618 Agnico Eagle Mines Limited $AEM

Key Points

• RFG Advisory LLC opened a new position in Agnico Eagle Mines, buying 6,618 shares worth about $1.12 million in the fourth quarter.
• The company reported strong quarterly results, with EPS of $3.40 beating estimates and revenue of $4 billion, up 66.1% from a year earlier.
• Agnico Eagle Mines also declared a quarterly dividend of $0.45 per share, while analysts currently rate the stock a Moderate Buy with an average price target of $238.18.

RFG Advisory LLC acquired a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,618 shares of the mining company's stock, valued at approximately $1,122,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AEM. Capital World Investors lifted its position in Agnico Eagle Mines by 20.0% during the third 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 lifted its position 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 period. Massachusetts Financial Services Co. MA lifted its position 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 period. Korea Investment CORP lifted its position in Agnico Eagle Mines by 138.5% during the third 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 position in Agnico Eagle Mines during the third quarter valued at $68,467,000. Hedge funds and other institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Price Performance

AEM opened at $193.34 on Friday. The stock has a 50-day moving average price of $208.63 and a 200-day moving average price of $192.16. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 1.33. The firm has a market cap of $96.77 billion, a PE ratio of 18.17, a P/E/G ratio of 4.23 and a beta of 0.58. Agnico Eagle Mines Limited has a 1 year low of $103.38 and a 1 year high of $255.24.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the previous year, the firm earned $1.53 EPS. Agnico Eagle Mines's quarterly revenue was up 66.1% compared to the same quarter last year. Sell-side analysts predict that Agnico Eagle Mines Limited will post 13.09 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a $0.45 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.80 dividend on an annualized basis and a yield of 0.9%. Agnico Eagle Mines's payout ratio is 16.92%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AEM shares. UBS Group lowered their price target on Agnico Eagle Mines from $240.00 to $210.00 and set a "neutral" rating for the company in a research report on Friday, March 27th. ATB Cormark Capital Markets raised Agnico Eagle Mines from a "hold" rating to an "outperform" rating in a research report on Monday, May 4th. JPMorgan Chase & Co. lifted their price target on Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a "neutral" rating in a research report on Monday, May 4th. Citigroup lifted their price target on Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a "buy" rating in a research report on Thursday, January 15th. Finally, Scotiabank reaffirmed an "outperform" rating and issued a $280.00 price target on shares of Agnico Eagle Mines in a research report on Tuesday, February 17th. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $238.18.

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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