Bessemer Group Inc. Grows Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Bessemer Group Inc. lifted its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 901.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,096 shares of the mining company’s stock after buying an additional 35,194 shares during the quarter. Bessemer Group Inc.’s holdings in Agnico Eagle Mines were worth $4,240,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Benjamin Edwards Inc. grew its position in shares of Agnico Eagle Mines by 2.0% in the 4th quarter. Benjamin Edwards Inc. now owns 5,472 shares of the mining company’s stock worth $428,000 after buying an additional 106 shares during the period. Duncker Streett & Co. Inc. grew its position in shares of Agnico Eagle Mines by 37.3% in the 4th quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock worth $32,000 after buying an additional 112 shares during the period. Laird Norton Wetherby Wealth Management LLC grew its position in shares of Agnico Eagle Mines by 1.8% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,944 shares of the mining company’s stock worth $543,000 after buying an additional 120 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in shares of Agnico Eagle Mines by 19.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 774 shares of the mining company’s stock worth $84,000 after buying an additional 125 shares during the period. Finally, Continuum Advisory LLC grew its position in shares of Agnico Eagle Mines by 47.0% in the 1st quarter. Continuum Advisory LLC now owns 397 shares of the mining company’s stock worth $43,000 after buying an additional 127 shares during the period. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Price Performance

AEM opened at $116.10 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.20 and a current ratio of 2.37. The stock has a market capitalization of $58.44 billion, a P/E ratio of 24.70, a P/E/G ratio of 0.94 and a beta of 0.51. The company’s 50-day simple moving average is $117.50 and its two-hundred day simple moving average is $102.95. Agnico Eagle Mines Limited has a 52-week low of $64.65 and a 52-week high of $126.76.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its 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. The business had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Agnico Eagle Mines had a net margin of 26.48% and a return on equity of 12.09%. The business’s revenue for the quarter was up 34.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.76 EPS. As a group, analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The firm also recently disclosed a dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $0.40 dividend. This represents a dividend yield of 1.36%. The ex-dividend date of this dividend was Friday, May 30th. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 34.04%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AEM. National Bankshares reissued an “outperform” rating on shares of Agnico Eagle Mines in a research report on Tuesday. Bank of America increased their price objective on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the company a “buy” rating in a research report on Monday, June 23rd. Raymond James Financial increased 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. Cfra Research raised shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Friday, April 25th. Finally, BMO Capital Markets began coverage on shares of Agnico Eagle Mines in a research report on Wednesday, April 16th. They set an “outperform” rating and a $181.00 price objective on the stock. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $130.50.

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.