Montrusco Bolton Investments Inc. Acquires 21,717 Shares of Agnico Eagle Mines Limited $AEM

Montrusco Bolton Investments Inc. boosted its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 12.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 193,818 shares of the mining company’s stock after purchasing an additional 21,717 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in Agnico Eagle Mines were worth $32,651,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in Agnico Eagle Mines by 11.5% in the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock worth $252,000 after buying an additional 331 shares in the last quarter. AQR Capital Management LLC lifted its position in Agnico Eagle Mines by 36.4% during the first quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company’s stock valued at $2,150,000 after buying an additional 5,293 shares during the period. Sivia Capital Partners LLC grew its holdings in Agnico Eagle Mines by 57.2% in the second quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company’s stock worth $379,000 after purchasing an additional 1,160 shares during the period. Focus Partners Advisor Solutions LLC grew its stake in shares of Agnico Eagle Mines by 17.3% in the second quarter. Focus Partners Advisor Solutions LLC now owns 2,615 shares of the mining company’s stock worth $312,000 after acquiring an additional 385 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Agnico Eagle Mines by 4.4% in the second quarter. Envestnet Asset Management Inc. now owns 231,267 shares of the mining company’s stock worth $27,505,000 after buying an additional 9,725 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on AEM. Citigroup lifted their target price on shares of Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Royal Bank Of Canada downgraded Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $185.00 to $205.00 in a research note on Wednesday, December 10th. JPMorgan Chase & Co. dropped their price target on shares of Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. Wall Street Zen cut Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 31st. Finally, UBS Group restated a “neutral” rating and set a $240.00 price objective on shares of Agnico Eagle Mines in a research report on Friday, January 30th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $234.91.

Agnico Eagle Mines Stock Down 1.4%

NYSE:AEM opened at $240.63 on Thursday. Agnico Eagle Mines Limited has a 1-year low of $92.11 and a 1-year high of $245.81. The company has a 50-day moving average of $199.36 and a 200 day moving average of $173.31. The firm has a market cap of $120.56 billion, a PE ratio of 27.10, a price-to-earnings-growth ratio of 0.57 and a beta of 0.63. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.02 and a quick ratio of 1.33.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, topping 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 firm 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 business posted $1.26 EPS. The firm’s quarterly revenue was up 60.3% on a year-over-year basis. As a group, research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, March 2nd. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 0.7%. Agnico Eagle Mines’s payout ratio is currently 18.02%.

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.