Chesapeake Capital Corp IL Makes New Investment in Agnico Eagle Mines Limited $AEM

Chesapeake Capital Corp IL purchased a new position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,180 shares of the mining company’s stock, valued at approximately $1,379,000. Agnico Eagle Mines comprises about 1.2% of Chesapeake Capital Corp IL’s holdings, making the stock its 12th biggest position.

Other institutional investors have also modified their holdings of the company. True Wealth Design LLC raised its holdings in Agnico Eagle Mines by 381.3% during the third quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock worth $26,000 after purchasing an additional 122 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Agnico Eagle Mines during the 2nd quarter valued at $29,000. Blue Bell Private Wealth Management LLC raised its stake in shares of Agnico Eagle Mines by 59.7% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock worth $33,000 after buying an additional 74 shares in the last quarter. MCF Advisors LLC bought a new stake in shares of Agnico Eagle Mines in the 3rd quarter worth $34,000. Finally, Caitlin John LLC acquired a new stake in shares of Agnico Eagle Mines in the third quarter valued at $36,000. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Down 5.0%

Shares of AEM opened at $207.39 on Friday. The business’s 50-day moving average price is $212.49 and its 200 day moving average price is $181.00. The company has a current ratio of 2.02, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $103.91 billion, a P/E ratio of 23.36 and a beta of 0.61. Agnico Eagle Mines Limited has a 1-year low of $94.77 and a 1-year high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $0.13. The firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.40 billion. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.09%. The company’s revenue was up 60.3% on a year-over-year basis. During the same quarter last year, the business posted $1.26 EPS. Analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a dividend of $0.45 per share. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. The ex-dividend date is Monday, March 2nd. This represents a $1.80 annualized dividend and a dividend yield of 0.9%. Agnico Eagle Mines’s dividend payout ratio is currently 20.27%.

Analyst Ratings Changes

Several brokerages recently weighed in on AEM. JPMorgan Chase & Co. decreased their target price 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. Citigroup upped their price target on shares of Agnico Eagle Mines from $198.00 to $256.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Royal Bank Of Canada lowered shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $185.00 to $205.00 in a research report on Wednesday, December 10th. UBS Group reaffirmed a “neutral” rating and issued a $240.00 price objective on shares of Agnico Eagle Mines in a research note on Friday, January 30th. Finally, Zacks Research upgraded shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Four investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Agnico Eagle Mines has an average rating of “Buy” and an average price target of $234.91.

Agnico Eagle Mines Company Profile

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.