Spinnaker Trust Invests $473,000 in Agnico Eagle Mines Limited (NYSE:AEM)

Spinnaker Trust bought a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,620 shares of the mining company’s stock, valued at approximately $473,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AEM. Bruce G. Allen Investments LLC acquired a new stake in Agnico Eagle Mines during the fourth quarter worth about $33,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Agnico Eagle Mines in the third quarter valued at approximately $34,000. CVA Family Office LLC acquired a new stake in Agnico Eagle Mines in the fourth quarter valued at approximately $36,000. Anchor Investment Management LLC acquired a new stake in Agnico Eagle Mines in the fourth quarter valued at approximately $55,000. Finally, Assetmark Inc. acquired a new stake in Agnico Eagle Mines in the third quarter valued at approximately $87,000. 68.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the company. Raymond James raised their price objective on Agnico Eagle Mines from $66.00 to $71.00 and gave the company an “outperform” rating in a report on Friday, January 12th. CIBC dropped their price objective on Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. TD Securities lowered their price target on Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. Finally, Jefferies Financial Group lifted their price target on Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and an average target price of $64.14.

Agnico Eagle Mines Trading Up 0.9 %

Agnico Eagle Mines stock traded up $0.58 during trading on Friday, reaching $65.52. 5,018,392 shares of the company were exchanged, compared to its average volume of 3,718,966. Agnico Eagle Mines Limited has a 52-week low of $43.22 and a 52-week high of $67.80. The company has a market capitalization of $32.67 billion, a P/E ratio of 68.96, a PEG ratio of 0.92 and a beta of 1.06. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.09 and a quick ratio of 0.74. The stock’s 50 day simple moving average is $56.90 and its two-hundred day simple moving average is $52.59.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, April 25th. The mining company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.16. Agnico Eagle Mines had a return on equity of 6.08% and a net margin of 6.79%. The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter last year, the business posted $0.57 earnings per share. The firm’s revenue was up 21.2% compared to the same quarter last year. On average, equities research analysts expect that Agnico Eagle Mines Limited will post 2.66 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.44%. Agnico Eagle Mines’s payout ratio is presently 168.42%.

Agnico Eagle Mines Company 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.