Cannell & Spears LLC Buys 72,932 Shares of Agnico Eagle Mines Limited $AEM

Cannell & Spears LLC increased its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 15.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 559,751 shares of the mining company’s stock after acquiring an additional 72,932 shares during the quarter. Agnico Eagle Mines makes up about 1.8% of Cannell & Spears LLC’s portfolio, making the stock its 10th biggest holding. Cannell & Spears LLC owned 0.11% of Agnico Eagle Mines worth $94,352,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Pure Portfolios Holdings LLC lifted its holdings in Agnico Eagle Mines by 1.6% during the third quarter. Pure Portfolios Holdings LLC now owns 3,781 shares of the mining company’s stock valued at $637,000 after purchasing an additional 60 shares in the last quarter. HB Wealth Management LLC increased its stake in shares of Agnico Eagle Mines by 1.2% during the third quarter. HB Wealth Management LLC now owns 5,640 shares of the mining company’s stock worth $951,000 after purchasing an additional 69 shares in the last quarter. Union Bancaire Privee UBP SA raised its position in shares of Agnico Eagle Mines by 1.6% during the 3rd quarter. Union Bancaire Privee UBP SA now owns 4,446 shares of the mining company’s stock worth $749,000 after purchasing an additional 72 shares during the last quarter. Blue Bell Private Wealth Management LLC raised its position in shares of Agnico Eagle Mines by 59.7% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock worth $33,000 after purchasing an additional 74 shares during the last quarter. Finally, Evergreen Capital Management LLC lifted its stake in Agnico Eagle Mines by 0.9% in the 2nd quarter. Evergreen Capital Management LLC now owns 8,232 shares of the mining company’s stock valued at $979,000 after buying an additional 77 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AEM shares. Zacks Research upgraded Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Weiss Ratings downgraded Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research report on Monday, January 12th. 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 note on Wednesday, February 4th. UBS Group reiterated a “neutral” rating and set a $240.00 price target on shares of Agnico Eagle Mines in a research report on Friday, January 30th. Finally, JPMorgan Chase & Co. reduced their price objective on Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Four analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Agnico Eagle Mines has an average rating of “Buy” and an average target price of $234.91.

Agnico Eagle Mines Trading Down 5.0%

Shares of AEM stock opened at $207.39 on Friday. 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 Limited has a twelve month low of $94.77 and a twelve month high of $255.24. The company’s 50-day moving average price is $212.49 and its 200-day moving average price is $181.29. The stock has a market cap of $103.91 billion, a price-to-earnings ratio of 23.36 and a beta of 0.61.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same period last year, the business earned $1.26 earnings per share. Agnico Eagle Mines’s revenue was up 60.3% compared to the same quarter last year. As a group, equities analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued 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 0.9%. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s payout ratio is 20.27%.

About Agnico Eagle Mines

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.