Waratah Capital Advisors Ltd. Buys Shares of 100,646 Agnico Eagle Mines Ltd (NYSE:AEM)

Waratah Capital Advisors Ltd. purchased a new position in Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 100,646 shares of the mining company’s stock, valued at approximately $5,396,000.

Other hedge funds have also modified their holdings of the company. Advisory Services Network LLC acquired a new position in shares of Agnico Eagle Mines in the 2nd quarter valued at $26,000. Parallel Advisors LLC raised its stake in shares of Agnico Eagle Mines by 151.1% in the third quarter. Parallel Advisors LLC now owns 1,027 shares of the mining company’s stock worth $55,000 after purchasing an additional 618 shares during the last quarter. Cerebellum GP LLC acquired a new stake in shares of Agnico Eagle Mines during the third quarter worth about $73,000. Tyers Asset Management LLC lifted its holdings in shares of Agnico Eagle Mines by 25.0% during the second quarter. Tyers Asset Management LLC now owns 1,680 shares of the mining company’s stock worth $83,000 after purchasing an additional 336 shares during the period. Finally, Pinebridge Investments L.P. purchased a new stake in Agnico Eagle Mines in the second quarter valued at approximately $121,000. 60.22% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines stock traded up $1.61 during mid-day trading on Tuesday, hitting $61.67. The company had a trading volume of 66,008 shares, compared to its average volume of 1,077,101. The company has a current ratio of 1.42, a quick ratio of 0.70 and a debt-to-equity ratio of 0.30. Agnico Eagle Mines Ltd has a 12-month low of $35.12 and a 12-month high of $64.88. The company’s fifty day moving average is $57.85 and its 200-day moving average is $54.15. The company has a market capitalization of $15.13 billion, a price-to-earnings ratio of 79.47, a P/E/G ratio of 62.34 and a beta of -0.55.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Wednesday, October 23rd. The mining company reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.10. The firm had revenue of $683.00 million for the quarter, compared to the consensus estimate of $683.18 million. Agnico Eagle Mines had a negative net margin of 11.06% and a positive return on equity of 3.80%. The firm’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.01 earnings per share. As a group, sell-side analysts expect that Agnico Eagle Mines Ltd will post 0.96 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Wednesday, November 27th.

A number of equities analysts have issued reports on AEM shares. Barclays set a $53.00 price target on shares of Agnico Eagle Mines and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Citigroup increased their price objective on shares of Agnico Eagle Mines from $55.00 to $64.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 11th. CIBC reiterated a “buy” rating on shares of Agnico Eagle Mines in a research note on Wednesday, September 18th. JPMorgan Chase & Co. raised their target price on shares of Agnico Eagle Mines from $68.00 to $83.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Finally, National Bank Financial boosted their target price on shares of Agnico Eagle Mines from $100.00 to $102.00 and gave the company an “outperform” rating in a research report on Sunday, October 27th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Agnico Eagle Mines has a consensus rating of “Buy” and an average price target of $65.40.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.

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

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