Ruffer LLP Acquires New Holdings in Agnico Eagle Mines Limited $AEM

Key Points

• Ruffer LLP acquired a new stake in Agnico Eagle Mines (NYSE:AEM) of 5,791 shares valued at about $983,000 in Q4, as other institutions also added positions—institutions now own 68.34% of the company.
• Agnico Eagle beat expectations with quarterly EPS of $2.69 versus $2.56 expected and reported revenue of $3.53 billion, up 60.3% year-over-year, yielding a net margin of 37.47%.
• The company increased its quarterly dividend to $0.45 (annualized $1.80, ~0.9% yield), and analysts' consensus is a "Moderate Buy" with a price target of $239.36.

Ruffer LLP acquired a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,791 shares of the mining company's stock, valued at approximately $983,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AEM. Brighton Jones LLC lifted its position in Agnico Eagle Mines by 11.5% during the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company's stock valued at $252,000 after purchasing an additional 331 shares during the period. AQR Capital Management LLC lifted its position in Agnico Eagle Mines by 36.4% during the first quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company's stock valued at $2,150,000 after purchasing an additional 5,293 shares during the period. Sivia Capital Partners LLC lifted its position in Agnico Eagle Mines by 57.2% during the second quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company's stock valued at $379,000 after purchasing an additional 1,160 shares during the period. Rhumbline Advisers lifted its position in Agnico Eagle Mines by 8.0% during the second quarter. Rhumbline Advisers now owns 1,810 shares of the mining company's stock valued at $215,000 after purchasing an additional 134 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in Agnico Eagle Mines by 25.2% during the second quarter. EverSource Wealth Advisors LLC now owns 929 shares of the mining company's stock valued at $110,000 after purchasing an additional 187 shares during the period. Institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Stock Up 0.4%

Shares of AEM stock opened at $203.92 on Thursday. Agnico Eagle Mines Limited has a 12 month low of $103.38 and a 12 month high of $255.24. The stock has a market cap of $102.08 billion, a P/E ratio of 22.96 and a beta of 0.71. 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 50 day simple moving average of $214.56 and a two-hundred day simple moving average of $190.82.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its earnings results on Thursday, February 12th. The mining company reported $2.69 EPS for the quarter, beating analysts' consensus estimates of $2.56 by $0.13. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.09%. The business had revenue of $3.53 billion during the quarter, compared to analysts' expectations of $3.40 billion. During the same period in the prior year, the company earned $1.26 earnings per share. The firm's revenue was up 60.3% on a year-over-year basis. On average, research analysts expect that Agnico Eagle Mines Limited will post 13.2 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 issued a dividend of $0.45 per share. This is an increase 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 0.9%. The ex-dividend date of this dividend was Monday, March 2nd. Agnico Eagle Mines's dividend payout ratio is currently 20.27%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Raymond James Financial restated an "outperform" rating and set a $225.00 price objective on shares of Agnico Eagle Mines in a research report on Wednesday, January 14th. Citigroup increased their price objective on shares of Agnico Eagle Mines from $198.00 to $256.00 and gave the company a "buy" rating in a research report on Thursday, January 15th. TD Securities increased their price objective on shares of Agnico Eagle Mines from $241.00 to $251.00 and gave the company a "buy" rating in a research report on Tuesday, March 3rd. Wall Street Zen cut shares of Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a report on Saturday, April 11th. Finally, Erste Group Bank cut shares of Agnico Eagle Mines from a "buy" rating to a "hold" rating in a report on Tuesday, March 24th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $239.36.

Agnico Eagle Mines 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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