SteelPeak Wealth LLC Takes $2.20 Million Position in Agnico Eagle Mines Limited $AEM

Key Points

• SteelPeak Wealth LLC opened a new position in Agnico Eagle (NYSE: AEM), buying 12,968 shares valued at about $2.20 million in Q4, and institutional investors now own roughly 68.34% of the company.
• Agnico Eagle beat Q4 expectations with EPS of $2.69 (vs. $2.56 est.) and revenue of $3.53 billion, up 60.3% year-over-year, with a net margin of 37.47%.
• The company raised its quarterly dividend to $0.45 (annualized $1.80), implying a yield near 0.9% and a payout ratio of about 20.3%.

SteelPeak Wealth LLC acquired a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 12,968 shares of the mining company's stock, valued at approximately $2,198,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Capital Wealth Advisors acquired a new stake in Agnico Eagle Mines during the 4th quarter worth approximately $357,000. Blue Trust Inc. raised its stake in shares of Agnico Eagle Mines by 2.5% during the fourth quarter. Blue Trust Inc. now owns 3,540 shares of the mining company's stock valued at $600,000 after acquiring an additional 86 shares during the last quarter. Bangor Savings Bank bought a new position in shares of Agnico Eagle Mines during the fourth quarter valued at $37,000. TB Alternative Assets Ltd. lifted its holdings in shares of Agnico Eagle Mines by 34.2% during the fourth quarter. TB Alternative Assets Ltd. now owns 229,630 shares of the mining company's stock worth $38,929,000 after purchasing an additional 58,490 shares during the period. Finally, Legacy Capital Wealth Partners LLC bought a new stake in shares of Agnico Eagle Mines in the fourth quarter worth $239,000. Institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $208.52 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.02 and a quick ratio of 1.33. The firm has a 50-day moving average of $212.43 and a 200-day moving average of $186.20. Agnico Eagle Mines Limited has a one year low of $94.77 and a one year high of $255.24. The company has a market cap of $104.48 billion, a P/E ratio of 23.48 and a beta of 0.71.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $3.40 billion. During the same period in the previous year, the company earned $1.26 earnings per share. The firm's revenue for the quarter was up 60.3% compared to the same quarter last year. Equities research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Monday, March 2nd. This is a boost from Agnico Eagle Mines's previous quarterly dividend of $0.40. Agnico Eagle Mines's dividend payout ratio (DPR) is presently 20.27%.

Wall Street Analyst Weigh In

AEM has been the subject of a number of analyst reports. TD Securities raised their price objective on Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a "buy" rating in a research report on Tuesday, March 3rd. Wall Street Zen upgraded Agnico Eagle Mines from a "buy" rating to a "strong-buy" rating in a report on Saturday, March 21st. Raymond James Financial reissued an "outperform" rating and set a $225.00 target price on shares of Agnico Eagle Mines in a research report on Wednesday, January 14th. UBS Group lowered their price target on shares of Agnico Eagle Mines from $240.00 to $210.00 and set a "neutral" rating for the company in a report on Friday, March 27th. Finally, Zacks Research lowered shares of Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Agnico Eagle Mines has an average rating of "Moderate Buy" and an average target price of $232.18.

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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