Agnico Eagle Mines Limited $AEM is Oppenheimer & Close LLC’s 2nd Largest Position

Oppenheimer & Close LLC lowered its holdings in Agnico Eagle Mines Limited (NYSE:AEMFree Report) (TSE:AEM) by 29.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,996 shares of the mining company’s stock after selling 24,349 shares during the period. Agnico Eagle Mines makes up 6.5% of Oppenheimer & Close LLC’s portfolio, making the stock its 2nd biggest position. Oppenheimer & Close LLC’s holdings in Agnico Eagle Mines were worth $9,607,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AEM. True Wealth Design LLC boosted its position in Agnico Eagle Mines by 381.3% during the 3rd quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock worth $26,000 after purchasing an additional 122 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Agnico Eagle Mines during the second quarter worth about $29,000. City State Bank boosted its position in shares of Agnico Eagle Mines by 69.2% in the second quarter. City State Bank now owns 269 shares of the mining company’s stock worth $32,000 after buying an additional 110 shares during the period. Blue Bell Private Wealth Management LLC boosted its position in shares of Agnico Eagle Mines by 59.7% in the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock worth $33,000 after buying an additional 74 shares during the period. Finally, MCF Advisors LLC acquired a new stake in shares of Agnico Eagle Mines in the third quarter valued at about $34,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines News Roundup

Here are the key news stories impacting Agnico Eagle Mines this week:

Wall Street Analysts Forecast Growth

AEM has been the topic of several recent research reports. Canadian Imperial Bank of Commerce set a $296.00 price target on Agnico Eagle Mines and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Raymond James Financial reiterated an “outperform” rating and set a $225.00 price objective on shares of Agnico Eagle Mines in a research note on Wednesday, January 14th. JPMorgan Chase & Co. reduced 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 research report on Wednesday. UBS Group reaffirmed a “neutral” rating and set a $240.00 price target on shares of Agnico Eagle Mines in a report on Friday, January 30th. Finally, Scotiabank reaffirmed an “outperform” rating and set a $280.00 price target on shares of Agnico Eagle Mines in a research note on Tuesday. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $234.91.

Read Our Latest Stock Analysis on AEM

Agnico Eagle Mines Stock Up 1.6%

AEM stock opened at $228.11 on Friday. The company has a current ratio of 2.02, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. The firm has a 50 day simple moving average of $194.91 and a 200-day simple moving average of $171.09. The company has a market capitalization of $114.29 billion, a P/E ratio of 25.69, a PEG ratio of 0.53 and a beta of 0.63. Agnico Eagle Mines Limited has a twelve month low of $92.11 and a twelve month high of $229.09.

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) last posted its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.13. The firm had revenue of $3.53 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 60.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.26 earnings per share. On average, equities research analysts predict 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 declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders 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 is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 0.8%. Agnico Eagle Mines’s dividend payout ratio is 18.02%.

Agnico Eagle Mines Profile

(Free Report)

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.

Featured Stories

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Institutional Ownership by Quarter for Agnico Eagle Mines (NYSE:AEM)

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