US Bancorp DE Has $2.39 Million Stock Position in Agnico Eagle Mines Limited $AEM

US Bancorp DE increased its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 33.9% in the third quarter, Holdings Channel.com reports. The firm owned 14,197 shares of the mining company’s stock after acquiring an additional 3,592 shares during the period. US Bancorp DE’s holdings in Agnico Eagle Mines were worth $2,393,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its stake in Agnico Eagle Mines by 11.5% in the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock valued at $252,000 after acquiring an additional 331 shares during the last quarter. AQR Capital Management LLC boosted its stake in Agnico Eagle Mines by 36.4% during the 1st quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company’s stock worth $2,150,000 after acquiring an additional 5,293 shares during the last quarter. Sivia Capital Partners LLC increased its stake in Agnico Eagle Mines by 57.2% in the second quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company’s stock valued at $379,000 after purchasing an additional 1,160 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Agnico Eagle Mines in the 2nd quarter valued at $356,000. Finally, Assetmark Inc. raised its position in shares of Agnico Eagle Mines by 87.3% during the second quarter. Assetmark Inc. now owns 11,848 shares of the mining company’s stock worth $1,409,000 after purchasing an additional 5,521 shares during the period. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on AEM shares. Raymond James Financial restated an “outperform” rating and set a $225.00 target price on shares of Agnico Eagle Mines in a report on Wednesday, January 14th. Erste Group Bank cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Citigroup increased their target price on Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Wall Street Zen lowered Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 31st. Finally, 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. Four analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Agnico Eagle Mines presently has an average rating of “Buy” and a consensus target price of $234.91.

Agnico Eagle Mines Price Performance

NYSE:AEM opened at $232.15 on Thursday. The firm has a fifty day simple moving average of $205.98 and a 200 day simple moving average of $177.13. Agnico Eagle Mines Limited has a 1-year low of $94.77 and a 1-year high of $255.24. The stock has a market capitalization of $116.31 billion, a PE ratio of 26.14 and a beta of 0.61. 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 issued its earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.13. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.09%. The company had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the prior year, the firm earned $1.26 EPS. Agnico Eagle Mines’s quarterly revenue was up 60.3% compared to the same quarter last year. On average, research analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Increases Dividend

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