Jupiter Asset Management Ltd. Acquires 30,473 Shares of Agnico Eagle Mines Limited $AEM

Jupiter Asset Management Ltd. boosted its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 6.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 517,939 shares of the mining company’s stock after purchasing an additional 30,473 shares during the period. Agnico Eagle Mines makes up 0.7% of Jupiter Asset Management Ltd.’s portfolio, making the stock its 28th largest position. Jupiter Asset Management Ltd. owned 0.10% of Agnico Eagle Mines worth $87,254,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AEM. True Wealth Design LLC increased its holdings in shares of Agnico Eagle Mines by 381.3% in the third quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock worth $26,000 after buying an additional 122 shares during the period. Twin Peaks Wealth Advisors LLC bought a new position in Agnico Eagle Mines during the 2nd quarter worth approximately $29,000. City State Bank grew its position in Agnico Eagle Mines by 69.2% during the 2nd quarter. City State Bank now owns 269 shares of the mining company’s stock worth $32,000 after acquiring an additional 110 shares during the last quarter. Blue Bell Private Wealth Management LLC increased its stake in Agnico Eagle Mines by 59.7% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock worth $33,000 after purchasing an additional 74 shares during the period. Finally, MCF Advisors LLC bought a new stake in Agnico Eagle Mines in the third quarter valued at approximately $34,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $224.34 on Friday. Agnico Eagle Mines Limited has a 1 year low of $92.11 and a 1 year high of $225.00. The stock has a market capitalization of $112.40 billion, a P/E ratio of 25.26, a P/E/G ratio of 0.51 and a beta of 0.63. The company’s 50-day moving average is $193.72 and its 200 day moving average is $170.16. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.02 and a quick ratio of 1.31.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.13. The company had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.40 billion. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The firm’s revenue for the quarter was up 60.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.26 earnings per share. On average, sell-side analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.8%. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. The ex-dividend date is Monday, March 2nd. Agnico Eagle Mines’s dividend payout ratio is currently 18.02%.

Wall Street Analyst Weigh In

AEM has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their target price on shares of Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating on the stock in a report on Wednesday. UBS Group reissued a “neutral” rating and issued a $240.00 price target on shares of Agnico Eagle Mines in a report on Friday, January 30th. TD Securities set a $251.00 price objective on shares of Agnico Eagle Mines and gave the company a “buy” rating in a research report on Tuesday. Jefferies Financial Group set a $189.00 target price on shares of Agnico Eagle Mines in a report on Sunday, December 7th. Finally, Canadian Imperial Bank of Commerce set a $296.00 target price on Agnico Eagle Mines and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.91.

Agnico Eagle Mines Company Profile

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.