Geneva Partners LLC Buys 8,606 Shares of Agnico Eagle Mines Limited $AEM

Geneva Partners LLC boosted its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 31.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,235 shares of the mining company’s stock after acquiring an additional 8,606 shares during the period. Agnico Eagle Mines accounts for about 2.2% of Geneva Partners LLC’s holdings, making the stock its 16th biggest position. Geneva Partners LLC’s holdings in Agnico Eagle Mines were worth $6,143,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Agnico Eagle Mines by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 20,979,666 shares of the mining company’s stock worth $3,557,772,000 after acquiring an additional 309,717 shares during the period. Capital World Investors raised its position in shares of Agnico Eagle Mines by 20.0% in the third quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock valued at $3,497,470,000 after purchasing an additional 3,462,968 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Agnico Eagle Mines by 5.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,712,397 shares of the mining company’s stock valued at $1,974,242,000 after purchasing an additional 602,489 shares during the period. TD Asset Management Inc raised its position in shares of Agnico Eagle Mines by 1.5% in the third quarter. TD Asset Management Inc now owns 9,500,193 shares of the mining company’s stock valued at $1,600,436,000 after purchasing an additional 143,645 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Agnico Eagle Mines by 3.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 8,589,745 shares of the mining company’s stock valued at $1,447,494,000 after purchasing an additional 292,949 shares during the period. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

Shares of Agnico Eagle Mines stock opened at $187.77 on Friday. Agnico Eagle Mines Limited has a 52-week low of $103.38 and a 52-week high of $255.24. The stock has a market capitalization of $93.98 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 4.16 and a beta of 0.58. The company has a fifty day moving average of $208.63 and a 200-day moving average of $192.16. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 3.15.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.21. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The company had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter in the prior year, the company earned $1.53 EPS. The firm’s revenue was up 66.1% on a year-over-year basis. Equities research analysts expect that Agnico Eagle Mines Limited will post 13.07 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Monday, June 1st. Agnico Eagle Mines’s dividend payout ratio is currently 16.92%.

Analysts Set New Price Targets

AEM has been the topic of several research reports. Canadian Imperial Bank of Commerce lowered their price target 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. UBS Group lowered their price target on shares of Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating on the stock in a research report on Friday, March 27th. Raymond James Financial reissued an “outperform” rating and issued a $225.00 price target on shares of Agnico Eagle Mines in a research report on Wednesday, January 14th. Weiss Ratings lowered shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, April 29th. Finally, Wall Street Zen downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 11th. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.18.

About Agnico Eagle Mines

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.