Investors Buy Large Volume of Call Options on Agnico Eagle Mines (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM - Get Free Report) TSE: AEM was the target of some unusual options trading on Thursday. Stock investors purchased 10,191 call options on the stock. This represents an increase of 51% compared to the typical volume of 6,763 call options.

Institutional Trading of Agnico Eagle Mines

Hedge funds have recently made changes to their positions in the company. Quilter Plc bought a new stake in shares of Agnico Eagle Mines during the 1st quarter valued at $204,981,000. Coppell Advisory Solutions Corp. bought a new stake in shares of Agnico Eagle Mines during the 4th quarter valued at $26,000. Bruce G. Allen Investments LLC bought a new stake in shares of Agnico Eagle Mines during the 4th quarter valued at $33,000. CVA Family Office LLC bought a new stake in shares of Agnico Eagle Mines during the 4th quarter valued at $36,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Agnico Eagle Mines during the 3rd quarter valued at $34,000. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Stock Up 3.1 %

Shares of NYSE:AEM traded up $1.79 during mid-day trading on Thursday, hitting $59.64. 4,761,913 shares of the company traded hands, compared to its average volume of 3,114,636. The stock has a market cap of $29.70 billion, a P/E ratio of 14.51, a P/E/G ratio of 24.36 and a beta of 1.03. The company has a current ratio of 2.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.10. Agnico Eagle Mines has a 12-month low of $43.22 and a 12-month high of $61.15. The stock has a 50-day moving average price of $51.04 and a two-hundred day moving average price of $50.37.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its earnings results on Friday, February 16th. The mining company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.09. The company had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.72 billion. Agnico Eagle Mines had a return on equity of 5.54% and a net margin of 29.29%. Agnico Eagle Mines's quarterly revenue was up 26.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 earnings per share. On average, equities research analysts forecast that Agnico Eagle Mines will post 2.3 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.60 annualized dividend and a yield of 2.68%. Agnico Eagle Mines's dividend payout ratio is currently 38.93%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Jefferies Financial Group began coverage on Agnico Eagle Mines in a research report on Thursday, February 29th. They set a "hold" rating and a $54.00 price target for the company. Raymond James raised their price objective on Agnico Eagle Mines from $66.00 to $71.00 and gave the company an "outperform" rating in a research note on Friday, January 12th. TD Securities cut their price target on Agnico Eagle Mines from $64.00 to $62.00 and set a "buy" rating on the stock in a research note on Wednesday, February 21st. National Bank Financial reiterated an "outperform overweight" rating on shares of Agnico Eagle Mines in a report on Wednesday, January 3rd. Finally, CIBC lowered their target price on Agnico Eagle Mines from $72.00 to $69.00 and set an "outperform" rating for the company in a report on Wednesday, February 7th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $63.71.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. 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.