Agnico Eagle Mines Limited (NYSE:AEM) Position Increased by Wahed Invest LLC

Wahed Invest LLC grew its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 12.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,361 shares of the mining company’s stock after buying an additional 814 shares during the quarter. Wahed Invest LLC’s holdings in Agnico Eagle Mines were worth $576,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. World Investment Advisors LLC purchased a new stake in Agnico Eagle Mines in the 3rd quarter worth about $359,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Agnico Eagle Mines in the third quarter worth approximately $1,818,000. Principal Financial Group Inc. boosted its holdings in shares of Agnico Eagle Mines by 1.4% during the third quarter. Principal Financial Group Inc. now owns 21,822 shares of the mining company’s stock worth $1,760,000 after purchasing an additional 302 shares during the period. Confluence Investment Management LLC grew its position in Agnico Eagle Mines by 1.8% during the fourth quarter. Confluence Investment Management LLC now owns 20,408 shares of the mining company’s stock valued at $1,596,000 after purchasing an additional 351 shares in the last quarter. Finally, Versant Capital Management Inc acquired a new position in Agnico Eagle Mines in the 4th quarter valued at approximately $26,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Price Performance

NYSE AEM opened at $111.09 on Friday. The company has a market cap of $55.91 billion, a P/E ratio of 29.39, a P/E/G ratio of 0.66 and a beta of 0.54. Agnico Eagle Mines Limited has a 1 year low of $63.01 and a 1 year high of $126.76. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The company has a fifty day simple moving average of $107.88 and a 200 day simple moving average of $93.70.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, April 24th. The mining company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.14. Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. The company had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period last year, the business posted $0.76 earnings per share. The firm’s revenue was up 34.9% compared to the same quarter last year. On average, sell-side analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Monday, December 1st. Agnico Eagle Mines’s dividend payout ratio is currently 34.04%.

Wall Street Analysts Forecast Growth

AEM has been the subject of a number of research reports. Scotiabank reissued an “outperform” rating on shares of Agnico Eagle Mines in a research note on Monday, April 14th. Jefferies Financial Group boosted their target price on Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Tuesday, January 7th. Cfra Research raised Agnico Eagle Mines to a “strong-buy” rating in a research note on Friday, April 25th. Royal Bank of Canada boosted their price target on Agnico Eagle Mines from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, April 4th. Finally, Raymond James raised their price objective on shares of Agnico Eagle Mines from $105.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, April 4th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines has an average rating of “Buy” and a consensus target price of $124.40.

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.