TB Alternative Assets Ltd. Raises Stake in Agnico Eagle Mines Limited $AEM

TB Alternative Assets Ltd. lifted its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 34.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 229,630 shares of the mining company’s stock after buying an additional 58,490 shares during the quarter. Agnico Eagle Mines comprises about 6.4% of TB Alternative Assets Ltd.’s portfolio, making the stock its 4th largest holding. TB Alternative Assets Ltd.’s holdings in Agnico Eagle Mines were worth $38,929,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital World Investors raised its holdings in Agnico Eagle Mines by 20.0% in the 3rd quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock valued at $3,497,470,000 after acquiring an additional 3,462,968 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Agnico Eagle Mines by 1.2% during the third quarter. Vanguard Group Inc. now owns 20,669,949 shares of the mining company’s stock worth $3,481,382,000 after acquiring an additional 252,043 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Agnico Eagle Mines by 5.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,712,397 shares of the mining company’s stock worth $1,974,242,000 after acquiring an additional 602,489 shares during the period. TD Asset Management Inc grew 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 last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Agnico Eagle Mines by 3.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 8,589,745 shares of the mining company’s stock worth $1,447,494,000 after purchasing an additional 292,949 shares during the period. Institutional investors own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. Royal Bank Of Canada lowered Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $185.00 to $205.00 in a report on Wednesday, December 10th. Jefferies Financial Group set a $189.00 price objective on Agnico Eagle Mines in a research report on Sunday, December 7th. TD Securities lifted their target price on Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Finally, Canadian Imperial Bank of Commerce set a $296.00 target price on shares of Agnico Eagle Mines and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Two investment 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. According to MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and an average target price of $232.18.

Agnico Eagle Mines Stock Up 3.4%

NYSE AEM opened at $209.94 on Thursday. The company has a current ratio of 2.02, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a market cap of $105.19 billion, a price-to-earnings ratio of 23.64 and a beta of 0.71. The company has a 50 day moving average of $212.65 and a 200-day moving average of $185.43. Agnico Eagle Mines Limited has a 1-year low of $94.77 and a 1-year high of $255.24.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.56 by $0.13. The business had revenue of $3.53 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 60.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.26 earnings per share. On average, equities research analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were issued a dividend of $0.45 per share. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.80 annualized dividend and a dividend yield of 0.9%. 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.