Violich Capital Management Inc. Buys 11,243 Shares of Agnico Eagle Mines Limited $AEM

Key Points

• Violich Capital increased its position in Agnico Eagle Mines by 26.7%, buying 11,243 shares to hold 53,273 shares worth about $9.03 million, roughly 1.0% of its portfolio and the fund's 22nd-largest holding.
• Agnico Eagle posted a strong quarter with EPS of $3.40 (vs. $3.19 expected) and $4.0 billion in revenue (up 66% YoY), and declared a quarterly dividend of $0.45 (annualized $1.80, ~1.0% yield).
• Analyst sentiment is positive—11 Buys vs. 5 Holds—with a consensus target of $238.18; the stock trades near $187.77 with a market cap of about $94 billion and a P/E of 17.65.

Violich Capital Management Inc. grew its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 26.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 53,273 shares of the mining company's stock after acquiring an additional 11,243 shares during the period. Agnico Eagle Mines comprises approximately 1.0% of Violich Capital Management Inc.'s investment portfolio, making the stock its 22nd biggest holding. Violich Capital Management Inc.'s holdings in Agnico Eagle Mines were worth $9,031,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AEM. Brighton Jones LLC raised 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 acquiring an additional 331 shares in the last quarter. AQR Capital Management LLC raised 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 acquiring an additional 5,293 shares in the last quarter. Sivia Capital Partners LLC raised 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 acquiring an additional 1,160 shares in the last quarter. Rhumbline Advisers raised 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 acquiring an additional 134 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised 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 acquiring an additional 187 shares in the last quarter. Institutional investors own 68.34% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Scotiabank reissued an "outperform" rating and set a $280.00 target price on shares of Agnico Eagle Mines in a research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce cut their target price on shares of Agnico Eagle Mines from $312.00 to $304.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 21st. TD raised their target price on shares of Agnico Eagle Mines from $251.00 to $252.00 and gave the company a "buy" rating in a research report on Tuesday, April 21st. JPMorgan Chase & Co. raised their target price on shares of Agnico Eagle Mines from $220.00 to $222.00 and gave the company a "neutral" rating in a research report on Monday. Finally, Citigroup raised their target price 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. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $238.18.

Agnico Eagle Mines Stock Down 1.1%

Shares of Agnico Eagle Mines stock opened at $187.77 on Friday. The firm's 50 day moving average price is $208.63 and its 200-day moving average price is $192.16. Agnico Eagle Mines Limited has a 52-week low of $103.38 and a 52-week high of $255.24. The company has a market cap of $93.98 billion, a P/E ratio of 17.65, a PEG ratio of 4.16 and a beta of 0.58. The company has a quick ratio of 1.33, a current ratio of 3.15 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced 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 period in the prior year, the company posted $1.53 EPS. The firm's quarterly revenue was up 66.1% compared to the same quarter last year. On average, sell-side analysts predict that Agnico Eagle Mines Limited will post 13.07 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued 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 dividend yield of 1.0%. Agnico Eagle Mines's dividend payout ratio (DPR) is currently 16.92%.

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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