Tocqueville Asset Management L.P. Grows Stock Position in Agnico Eagle Mines Limited $AEM

Key Points

• Tocqueville Asset Management L.P. increased its stake in Agnico Eagle Mines Limited by 17.4% in the first quarter, bringing its total holdings to 28,340 shares worth $3,072,000.
• Agnico Eagle Mines recently announced a $0.40 per share dividend, contributing to a yield of 136.0% with a payout ratio of 27.21%.
• The company reported $1.94 earnings per share for the last quarter, exceeding analyst expectations, with a year-over-year revenue increase of 35.6%.

Tocqueville Asset Management L.P. raised its position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 17.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,340 shares of the mining company's stock after purchasing an additional 4,200 shares during the quarter. Tocqueville Asset Management L.P.'s holdings in Agnico Eagle Mines were worth $3,072,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AEM. Brighton Jones LLC raised its stake in shares of Agnico Eagle Mines by 11.5% during the 4th quarter. Brighton Jones LLC now owns 3,216 shares of the mining company's stock valued at $252,000 after buying an additional 331 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new position in shares of Agnico Eagle Mines during the 4th quarter valued at about $783,000. Mariner LLC raised its stake in shares of Agnico Eagle Mines by 15.9% during the 4th quarter. Mariner LLC now owns 45,024 shares of the mining company's stock valued at $3,521,000 after buying an additional 6,171 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Agnico Eagle Mines during the 4th quarter valued at about $422,000. Finally, Epoch Investment Partners Inc. raised its stake in shares of Agnico Eagle Mines by 16.7% during the 4th quarter. Epoch Investment Partners Inc. now owns 33,929 shares of the mining company's stock valued at $2,654,000 after buying an additional 4,844 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Lake Street Capital reiterated a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. Cfra Research upgraded Agnico Eagle Mines to a "strong-buy" rating in a research report on Friday, April 25th. Bank of America raised their target price on Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Royal Bank Of Canada raised their target price on Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Finally, National Bankshares restated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Five investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $136.90.

Agnico Eagle Mines Price Performance

AEM stock traded up $0.7570 during trading on Friday, hitting $137.0970. The stock had a trading volume of 2,872,881 shares, compared to its average volume of 2,579,478. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16. Agnico Eagle Mines Limited has a twelve month low of $75.17 and a twelve month high of $138.02. The stock has a market capitalization of $68.94 billion, a P/E ratio of 23.32, a PEG ratio of 0.94 and a beta of 0.44. The company's 50-day moving average price is $125.39 and its two-hundred day moving average price is $114.59.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.11. The business had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.46 billion. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The business's revenue for the quarter was up 35.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.07 EPS. As a group, research analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.