International Assets Investment Management LLC Makes New $347,000 Investment in Agnico Eagle Mines Limited (NYSE:AEM)

Posted by on Apr 15th, 2023

International Assets Investment Management LLC bought a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM – Get Rating) (TSE:AEM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,676 shares of the mining company’s stock, valued at approximately $347,000.

A number of other institutional investors also recently bought and sold shares of AEM. Mint Tower Capital Management B.V. increased its position in shares of Agnico Eagle Mines by 100.0% during the third quarter. Mint Tower Capital Management B.V. now owns 4,000 shares of the mining company’s stock valued at $169,000 after acquiring an additional 2,000 shares during the last quarter. Raymond James Trust N.A. acquired a new stake in shares of Agnico Eagle Mines during the third quarter valued at about $224,000. Virtus ETF Advisers LLC increased its position in shares of Agnico Eagle Mines by 6.9% during the third quarter. Virtus ETF Advisers LLC now owns 30,319 shares of the mining company’s stock valued at $1,280,000 after acquiring an additional 1,961 shares during the last quarter. LGT Group Foundation increased its position in shares of Agnico Eagle Mines by 16.0% during the third quarter. LGT Group Foundation now owns 173,108 shares of the mining company’s stock valued at $7,305,000 after acquiring an additional 23,837 shares during the last quarter. Finally, Condire Management LP increased its position in shares of Agnico Eagle Mines by 47.6% during the third quarter. Condire Management LP now owns 620,001 shares of the mining company’s stock valued at $26,183,000 after acquiring an additional 200,000 shares during the last quarter. 58.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AEM has been the subject of a number of research reports. Raymond James lifted their price objective on shares of Agnico Eagle Mines from $65.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, January 31st. Scotiabank initiated coverage on shares of Agnico Eagle Mines in a report on Monday, April 3rd. They issued an “outperform” rating for the company. National Bank Financial dropped their price objective on shares of Agnico Eagle Mines from C$89.00 to C$88.00 in a report on Tuesday, February 14th. TheStreet upgraded shares of Agnico Eagle Mines from a “c+” rating to a “b-” rating in a report on Wednesday, January 25th. Finally, TD Securities dropped their price objective on shares of Agnico Eagle Mines from $68.00 to $62.00 and set a “buy” rating for the company in a report on Friday, February 17th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $70.50.

Agnico Eagle Mines Stock Down 1.6 %

Shares of Agnico Eagle Mines stock opened at $58.36 on Friday. Agnico Eagle Mines Limited has a 52-week low of $36.69 and a 52-week high of $67.14. The company has a 50 day moving average of $50.35 and a 200 day moving average of $49.59. The company has a quick ratio of 1.03, a current ratio of 2.30 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $28.84 billion, a P/E ratio of 38.91, a P/E/G ratio of 31.94 and a beta of 0.80.

Agnico Eagle Mines (NYSE:AEM – Get Rating) (TSE:AEM) last issued its quarterly earnings results on Friday, February 17th. The mining company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.42 billion. Agnico Eagle Mines had a net margin of 11.67% and a return on equity of 6.18%. The firm’s quarterly revenue was up 45.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.46 earnings per share. As a group, research analysts forecast that Agnico Eagle Mines Limited will post 1.78 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, February 28th. This represents a $1.60 annualized dividend and a dividend yield of 2.74%. Agnico Eagle Mines’s dividend payout ratio is presently 106.67%.

About Agnico Eagle Mines

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Agnico Eagle Mines Ltd. engages in the exploration and production of gold. It operates through the following segments: Northern Business, Southern Business, and Exploration. The Northern Business segment comprises of LaRonde mine, LaRonde Zone 5 mine, Lapa mine, Goldex mine, Meadowbank mine including the Amaruq deposit, Canadian Malartic joint operation, Meliadine project and Kittila mine.

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Institutional Ownership by Quarter for Agnico Eagle Mines (NYSE:AEM)

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