115,000 Shares in Agnico Eagle Mines Limited (NYSE:AEM) Purchased by Drummond Knight Asset Management Pty Ltd

Drummond Knight Asset Management Pty Ltd bought a new position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 115,000 shares of the mining company’s stock, valued at approximately $8,994,000. Agnico Eagle Mines accounts for approximately 6.5% of Drummond Knight Asset Management Pty Ltd’s investment portfolio, making the stock its 9th biggest holding.

A number of other hedge funds have also added to or reduced their stakes in the stock. Versant Capital Management Inc purchased a new position in Agnico Eagle Mines during the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC boosted its holdings in Agnico Eagle Mines by 859.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock valued at $28,000 after purchasing an additional 318 shares during the period. Decker Retirement Planning Inc. bought a new position in Agnico Eagle Mines in the 4th quarter valued at $29,000. Fifth Third Bancorp grew its position in shares of Agnico Eagle Mines by 176.9% during the 4th quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock valued at $32,000 after purchasing an additional 260 shares in the last quarter. Finally, Duncker Streett & Co. Inc. increased its holdings in shares of Agnico Eagle Mines by 37.3% in the fourth quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock worth $32,000 after purchasing an additional 112 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Up 4.4 %

Shares of AEM opened at $119.28 on Wednesday. Agnico Eagle Mines Limited has a fifty-two week low of $63.01 and a fifty-two week high of $126.76. The firm has a market cap of $60.03 billion, a price-to-earnings ratio of 31.56, a PEG ratio of 0.66 and a beta of 0.54. The firm has a 50 day moving average price of $108.68 and a 200-day moving average price of $94.24. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Thursday, April 24th. The mining company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.14. Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. The business had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the previous year, the firm posted $0.76 earnings per share. The firm’s revenue for the quarter was up 34.9% on a year-over-year basis. As a group, equities research analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.40 per share. The ex-dividend date is Monday, December 1st. This represents a $1.60 annualized dividend and a yield of 1.34%. Agnico Eagle Mines’s payout ratio is 34.04%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. StockNews.com cut Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Bank of America boosted their price objective on Agnico Eagle Mines from $119.00 to $142.00 and gave the stock a “buy” rating in a report on Tuesday, April 8th. UBS Group raised their target price on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, April 11th. Scotiabank reiterated an “outperform” rating on shares of Agnico Eagle Mines in a research report on Monday, April 14th. Finally, Cfra Research raised shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Friday, April 25th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $124.40.

Agnico Eagle Mines 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.