Trek Financial LLC Grows Holdings in Agnico Eagle Mines Limited $AEM

Key Points

• Trek Financial LLC boosted its stake in Agnico Eagle Mines by 265.6% in the fourth quarter, ending with 72,372 shares worth about $12.27 million.
• Agnico Eagle Mines reported strong quarterly results, posting EPS of $3.40 versus the $3.19 estimate and revenue of $4.0 billion, up 66.1% year over year.
• The company also announced a quarterly dividend of $0.45 per share and has received a Moderate Buy consensus from analysts, with 11 Buy ratings and a average price target of $238.18.

Trek Financial LLC grew its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 265.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,372 shares of the mining company's stock after purchasing an additional 52,579 shares during the period. Trek Financial LLC's holdings in Agnico Eagle Mines were worth $12,269,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC increased its stake in shares of 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 buying an additional 331 shares during the period. AQR Capital Management LLC increased its stake in shares of 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 buying an additional 5,293 shares during the period. Sivia Capital Partners LLC increased its stake in shares of 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 buying an additional 1,160 shares during the period. Rhumbline Advisers increased its stake in shares of 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 buying an additional 134 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of 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 buying an additional 187 shares during the period. Hedge funds and other institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Price Performance

AEM opened at $196.93 on Tuesday. The business's 50-day moving average is $206.69 and its two-hundred day moving average is $192.50. Agnico Eagle Mines Limited has a 1 year low of $103.38 and a 1 year high of $255.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18. The firm has a market capitalization of $98.56 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 4.23 and a beta of 0.58.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the previous year, the firm earned $1.53 earnings per share. The firm's quarterly revenue was up 66.1% compared to the same quarter last year. Research analysts anticipate that Agnico Eagle Mines Limited will post 13.09 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

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

Analyst Ratings Changes

AEM has been the topic of several research reports. TD Securities raised their price target on Agnico Eagle Mines from $241.00 to $251.00 and gave the company a "buy" rating in a research note on Tuesday, March 3rd. UBS Group cut their price target on Agnico Eagle Mines from $240.00 to $210.00 and set a "neutral" rating on the stock in a research note on Friday, March 27th. ATB Cormark Capital Markets upgraded Agnico Eagle Mines from a "hold" rating to an "outperform" rating in a research note on Monday, May 4th. Weiss Ratings lowered Agnico Eagle Mines from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Wednesday, April 29th. Finally, Scotiabank restated an "outperform" rating and set a $280.00 price target on shares of Agnico Eagle Mines in a research note on Tuesday, February 17th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $238.18.

Agnico Eagle Mines Company 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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