Foundation capital

Foundation Resource Management Inc. strengthens its position in Agnico Eagle Mines Limited (NYSE:AEM)


Foundation Resource Management Inc. increased its stake in Agnico Eagle Mines Limited (NYSE:AEM – Get Rating) (TSE:AEM) by 101.2% during the 1st quarter, according to its latest filing with the Securities and Exchange Commission ( DRY). The company held 270,247 shares of the mining company after purchasing an additional 135,950 shares during the period. Agnico Eagle Mines represents approximately 2.6% of Foundation Resource Management Inc.’s portfolio, making it its 13th largest position. Foundation Resource Management Inc.’s holdings in Agnico Eagle Mines were worth $16,550,000 when it last filed with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of AEM. Sandy Cove Advisors LLC acquired a new position in Agnico Eagle Mines in Q4 worth approximately $27,000. Pacifica Partners Inc. increased its stake in Agnico Eagle Mines by 78.5% in the 4th quarter. Pacifica Partners Inc. now owns 580 shares of the mining company worth $29,000 after purchasing an additional 255 shares during the period. Spectrum Management Group LLC bought a new position in Agnico Eagle Mines in Q4 worth approximately $32,000. Chilton Capital Management LLC bought a new position in Agnico Eagle Mines in Q4 worth approximately $44,000. Finally, Pflug Koory LLC increased its stake in Agnico Eagle Mines by 51.0% in the 4th quarter. Pflug Koory LLC now owns 1,027 shares of the mining company worth $55,000 after purchasing an additional 347 shares during the period. 69.74% of the shares are currently held by institutional investors.

Several research analysts have published reports on the stock. TD Securities lowered its target price on Agnico Eagle Mines shares from $65.00 to $62.00 and set a “buy” rating on the stock in a Tuesday, March 1 report. Stifel Nicolaus lowered his price target on Agnico Eagle Mines shares from C$115.75 to C$100.00 in a Monday, February 28 report. Raymond James lowered its price target on Agnico Eagle Mines shares from $76.00 to $72.00 and set an “outperform” rating on the stock in a Friday, May 13 report. BMO Capital Markets lowered its price target on Agnico Eagle Mines shares from $93.00 to $88.00 in a Friday, February 25 report. Finally, Barclays lowered its price target on shares of Agnico Eagle Mines from $71.00 to $70.00 and set an “overweight” rating on the stock in a Wednesday, June 8 report. Three equity research analysts gave the stock a hold rating and seven gave the company a buy rating. According to MarketBeat data, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and an average target price of $85.55.

Shares of NYSE:AEM traded down $0.66 during Wednesday’s trading, hitting $52.11. The stock had trading volume of 110,891 shares, compared to an average volume of 2,383,907. Agnico Eagle Mines Limited has a one-year low of $45.42 and a one-year high of $67.14. The company has a market capitalization of $12.79 billion, a P/E ratio of 26.66, a PEG ratio of 21.87 and a beta of 0.85. The company has a current ratio of 2.61, a quick ratio of 1.46 and a debt ratio of 0.09. The company’s 50-day simple moving average is $55.40 and its 200-day simple moving average is $54.64.

Agnico Eagle Mines (NYSE:AEM – Get Rating) (TSE:AEM) last reported quarterly earnings data on Thursday, April 28. The mining company reported EPS of $0.61 for the quarter, beating the consensus estimate of $0.36 by $0.25. The company posted revenue of $1.33 billion in the quarter, versus analyst estimates of $1.25 billion. Agnico Eagle Mines posted a net margin of 12.22% and a return on equity of 7.76%. Agnico Eagle Mines’ revenues increased 39.6% year over year. During the same period last year, the company posted EPS of $0.67. Equity research analysts expect Agnico Eagle Mines Limited to post earnings per share of 2.32 for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15. Investors of record on Wednesday June 1 received a dividend of $0.40. This represents an annualized dividend of $1.60 and a dividend yield of 3.07%. The ex-dividend date was Tuesday, May 31. Agnico Eagle Mines’ payout ratio is currently 82.90%.

About Agnico Eagle Mines (Get a rating)

Agnico Eagle Mines Limited is engaged 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 mainly produces and sells gold deposits, as well as silver, zinc and copper deposits.

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Institutional ownership by quarter for Agnico Eagle Mines (NYSE:AEM)



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