Agnico Eagle Mines Sees Unusually High Options Volume (NYSE:AEM)

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Agnico Eagle Mines Limited (NYSE:AEMGet Rating) (TSE:AEM) saw some unusual options trading on Tuesday. Stock investors bought 30,350 call options on the company. This represents an increase of 399% compared to the typical volume of 6,085 call options.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Raymond James cut their price target on Agnico Eagle Mines from $76.00 to $72.00 and set an “outperform” rating on the stock in a report on Friday, May 13th. StockNews.com started coverage on shares of Agnico Eagle Mines in a report on Thursday, March 31st. They set a “hold” rating on the stock. National Bank Financial lowered their price target on shares of Agnico Eagle Mines from C$98.00 to C$75.00 in a report on Thursday, July 21st. TheStreet cut shares of Agnico Eagle Mines from a “b-” rating to a “c” rating in a report on Tuesday, July 12th. Finally, Barclays lowered their price target on shares of Agnico Eagle Mines from $70.00 to $62.00 and set an “overweight” rating on the stock in a report on Tuesday, July 19th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and an average target price of $76.89.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Signaturefd LLC lifted its position in shares of Agnico Eagle Mines by 32.6% during the fourth quarter. Signaturefd LLC now owns 2,121 shares of the mining company’s stock worth $113,000 after purchasing an additional 522 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Agnico Eagle Mines in the fourth quarter valued at approximately $12,995,000. Hussman Strategic Advisors Inc. lifted its holdings in Agnico Eagle Mines by 18.1% in the fourth quarter. Hussman Strategic Advisors Inc. now owns 86,000 shares of the mining company’s stock valued at $4,570,000 after buying an additional 13,200 shares during the period. Desjardins Global Asset Management Inc. acquired a new position in Agnico Eagle Mines in the fourth quarter valued at approximately $1,986,000. Finally, Yousif Capital Management LLC acquired a new position in Agnico Eagle Mines in the fourth quarter valued at approximately $201,000. Institutional investors and hedge funds own 69.74% of the company’s stock.

Agnico Eagle Mines Stock Up 2.7 %

Agnico Eagle Mines stock opened at $39.48 on Wednesday. The firm has a market cap of $17.96 billion, a price-to-earnings ratio of 20.46, a P/E/G ratio of 18.62 and a beta of 0.89. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.61 and a quick ratio of 1.46. Agnico Eagle Mines has a fifty-two week low of $38.02 and a fifty-two week high of $67.14. The firm has a fifty day moving average price of $48.79 and a two-hundred day moving average price of $53.61.

Agnico Eagle Mines (NYSE:AEMGet Rating) (TSE:AEM) last released its earnings results on Thursday, April 28th. The mining company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.25. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.25 billion. Agnico Eagle Mines had a net margin of 12.22% and a return on equity of 7.76%. The business’s revenue was up 39.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.67 EPS. As a group, analysts forecast that Agnico Eagle Mines will post 2.16 earnings per share for the current year.

Agnico Eagle Mines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date was Tuesday, May 31st. Agnico Eagle Mines’s dividend payout ratio is 82.90%.

About Agnico Eagle Mines

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

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