Sound View Wealth Advisors Group LLC Purchases New Position in Agnico Eagle Mines Limited $AEM

Sound View Wealth Advisors Group LLC acquired a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 2,090 shares of the mining company’s stock, valued at approximately $352,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. TD Waterhouse Canada Inc. boosted its stake in shares of Agnico Eagle Mines by 13.4% in the third quarter. TD Waterhouse Canada Inc. now owns 1,133,384 shares of the mining company’s stock valued at $192,951,000 after purchasing an additional 134,147 shares during the period. Ninety One UK Ltd increased its stake in Agnico Eagle Mines by 386.5% during the 3rd quarter. Ninety One UK Ltd now owns 188,189 shares of the mining company’s stock worth $31,703,000 after buying an additional 149,506 shares during the period. Campbell & CO Investment Adviser LLC lifted its holdings in Agnico Eagle Mines by 1,560.8% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 48,677 shares of the mining company’s stock worth $8,205,000 after buying an additional 45,746 shares in the last quarter. AustralianSuper Pty Ltd purchased a new position in Agnico Eagle Mines in the 3rd quarter valued at about $23,958,000. Finally, Addenda Capital Inc. boosted its position in Agnico Eagle Mines by 2.3% in the 3rd quarter. Addenda Capital Inc. now owns 724,231 shares of the mining company’s stock valued at $122,076,000 after buying an additional 15,965 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AEM shares. JPMorgan Chase & Co. dropped their target price on Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. Jefferies Financial Group set a $189.00 price objective on Agnico Eagle Mines in a report on Sunday, December 7th. UBS Group reiterated a “neutral” rating and set a $240.00 target price on shares of Agnico Eagle Mines in a research note on Friday, January 30th. Citigroup raised their price target on shares of Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Finally, TD Securities set a $251.00 price target on shares of Agnico Eagle Mines and gave the company a “buy” rating in a report on Tuesday, February 17th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $234.91.

Agnico Eagle Mines Stock Performance

AEM stock opened at $240.28 on Tuesday. The stock’s 50 day simple moving average is $196.35 and its 200 day simple moving average is $172.07. Agnico Eagle Mines Limited has a 12-month low of $92.11 and a 12-month high of $240.82. The firm has a market cap of $120.39 billion, a P/E ratio of 27.06, a P/E/G ratio of 0.53 and a beta of 0.63. The company has a current ratio of 2.02, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $0.13. The firm had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.40 billion. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.09%. The firm’s revenue was up 60.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.26 earnings per share. As a group, equities research analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS 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. Investors of record on Monday, March 2nd will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.7%. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s payout ratio is currently 20.27%.

Agnico Eagle Mines 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.