TB Alternative Assets Ltd. Grows Stock Holdings in Agnico Eagle Mines Limited $AEM

TB Alternative Assets Ltd. grew its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 34.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 229,630 shares of the mining company’s stock after purchasing an additional 58,490 shares during the quarter. Agnico Eagle Mines comprises 6.4% of TB Alternative Assets Ltd.’s portfolio, making the stock its 4th biggest holding. TB Alternative Assets Ltd.’s holdings in Agnico Eagle Mines were worth $38,929,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AEM. True Wealth Design LLC boosted its position in shares of Agnico Eagle Mines by 381.3% during the 3rd quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock worth $26,000 after acquiring an additional 122 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in Agnico Eagle Mines during the second quarter valued at approximately $29,000. Blue Bell Private Wealth Management LLC raised its position in Agnico Eagle Mines by 59.7% during the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock valued at $33,000 after purchasing an additional 74 shares in the last quarter. MCF Advisors LLC bought a new stake in Agnico Eagle Mines during the third quarter worth $34,000. Finally, Abound Wealth Management lifted its stake in Agnico Eagle Mines by 99.0% during the fourth quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock worth $35,000 after purchasing an additional 104 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Canadian Imperial Bank of Commerce set a $296.00 price target on Agnico Eagle Mines and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Scotiabank restated an “outperform” rating and set a $280.00 price objective on shares of Agnico Eagle Mines in a research report on Tuesday, February 17th. UBS Group reduced their price objective on Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating on the stock in a research note on Friday, March 27th. Royal Bank Of Canada cut Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $185.00 to $205.00 in a research report on Wednesday, December 10th. Finally, Weiss Ratings cut shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a report on Monday, January 12th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $232.18.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $209.94 on Thursday. The firm’s fifty day moving average price is $212.65 and its two-hundred day moving average price is $185.43. The stock has a market cap of $105.19 billion, a PE ratio of 23.64 and a beta of 0.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.02. Agnico Eagle Mines Limited has a fifty-two week low of $94.77 and a fifty-two week high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 EPS for the quarter, beating analysts’ consensus estimates of $2.56 by $0.13. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The company had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the prior year, the company earned $1.26 EPS. Agnico Eagle Mines’s revenue was up 60.3% compared to the same quarter last year. On average, equities analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were given a $0.45 dividend. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 0.9%. The ex-dividend date was Monday, March 2nd. Agnico Eagle Mines’s dividend 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.