AlTi Global Inc. Buys Shares of 12,353 Agnico Eagle Mines Limited (NYSE:AEM)

AlTi Global Inc. bought a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the fourth quarter, HoldingsChannel.com reports. The firm bought 12,353 shares of the mining company’s stock, valued at approximately $1,053,000.

Other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc bought a new position in Agnico Eagle Mines during the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC boosted its position in shares of Agnico Eagle Mines by 859.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock worth $28,000 after purchasing an additional 318 shares in the last quarter. Decker Retirement Planning Inc. bought a new stake in shares of Agnico Eagle Mines in the 4th quarter valued at $29,000. Fifth Third Bancorp raised its stake in Agnico Eagle Mines by 176.9% during the 4th quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock worth $32,000 after buying an additional 260 shares during the period. Finally, Duncker Streett & Co. Inc. lifted its holdings in Agnico Eagle Mines by 37.3% during the fourth quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock worth $32,000 after acquiring an additional 112 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Performance

AEM opened at $111.09 on Friday. The business’s 50-day simple moving average is $107.88 and its 200 day simple moving average is $93.78. Agnico Eagle Mines Limited has a 52-week low of $63.01 and a 52-week high of $126.76. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86. The firm has a market capitalization of $55.91 billion, a PE ratio of 29.39, a PEG ratio of 0.66 and a beta of 0.54.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, April 24th. The mining company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.14. Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. The company had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the prior year, the business posted $0.76 EPS. The business’s revenue was up 34.9% compared to the same quarter last year. As a group, sell-side analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Monday, December 1st. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 34.04%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Citigroup increased their price target on Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, March 31st. BMO Capital Markets assumed coverage on shares of Agnico Eagle Mines in a report on Wednesday, April 16th. They set an “outperform” rating and a $181.00 target price on the stock. Royal Bank of Canada upped their price target on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, April 4th. Bank of America raised their price objective on shares of Agnico Eagle Mines from $119.00 to $142.00 and gave the stock a “buy” rating in a report on Tuesday, April 8th. Finally, StockNews.com cut Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $124.40.

Agnico Eagle Mines Profile

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