DAVENPORT & Co LLC Acquires 322 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Posted by Defense World Staff on Oct 8th, 2023

DAVENPORT & Co LLC grew its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM – Free Report) (TSE:AEM) by 3.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,649 shares of the mining company’s stock after buying an additional 322 shares during the period. DAVENPORT & Co LLC’s holdings in Agnico Eagle Mines were worth $432,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of AEM. Round Rock Advisors LLC raised its position in shares of Agnico Eagle Mines by 11.5% during the second quarter. Round Rock Advisors LLC now owns 14,500 shares of the mining company’s stock worth $725,000 after purchasing an additional 1,500 shares during the period. Csenge Advisory Group raised its position in shares of Agnico Eagle Mines by 121.0% during the second quarter. Csenge Advisory Group now owns 22,903 shares of the mining company’s stock worth $1,145,000 after purchasing an additional 12,541 shares during the period. Ninety One UK Ltd raised its position in shares of Agnico Eagle Mines by 11.7% during the second quarter. Ninety One UK Ltd now owns 2,980,272 shares of the mining company’s stock worth $148,980,000 after purchasing an additional 311,259 shares during the period. Summit Global Investments acquired a new position in shares of Agnico Eagle Mines during the second quarter worth approximately $327,000. Finally, Ninety One SA PTY Ltd acquired a new position in shares of Agnico Eagle Mines during the second quarter worth approximately $1,948,000. 59.37% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Stock Up 1.7 %

Shares of NYSE AEM opened at $45.10 on Friday. Agnico Eagle Mines Limited has a 52 week low of $39.24 and a 52 week high of $61.15. The business has a 50-day simple moving average of $47.64 and a two-hundred day simple moving average of $51.27. The company has a quick ratio of 0.85, a current ratio of 2.10 and a debt-to-equity ratio of 0.10. The company has a market cap of $22.34 billion, a P/E ratio of 8.77, a P/E/G ratio of 19.95 and a beta of 0.85.

Agnico Eagle Mines (NYSE:AEM – Get Free Report) (TSE:AEM) last issued its earnings results on Thursday, July 27th. The mining company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.55 by $0.10. Agnico Eagle Mines had a return on equity of 5.63% and a net margin of 40.06%. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter last year, the company earned $0.75 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. Research analysts anticipate that Agnico Eagle Mines Limited will post 2.22 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a $0.40 dividend. The ex-dividend date was Thursday, August 31st. This represents a $1.60 annualized dividend and a yield of 3.55%. Agnico Eagle Mines’s dividend payout ratio is currently 31.13%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. BMO Capital Markets increased their price target on Agnico Eagle Mines from $64.00 to $67.00 in a research report on Thursday, July 27th. Barclays increased their price target on Agnico Eagle Mines from $61.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, July 27th. StockNews.com started coverage on Agnico Eagle Mines in a research report on Thursday. They issued a “hold” rating for the company. Finally, CSFB raised their target price on Agnico Eagle Mines from $60.00 to $61.00 and gave the company an “outperform” rating in a research report on Thursday, August 17th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $67.83.

Get Our Latest Analysis on Agnico Eagle Mines

Agnico Eagle Mines Profile

(Free Report)

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.