Investors Buy High Volume of Agnico Eagle Mines Call Options (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) saw some unusual options trading on Friday. Stock investors purchased 12,260 call options on the stock. This represents an increase of 63% compared to the typical daily volume of 7,511 call options.

Agnico Eagle Mines Trading Down 0.4 %

Agnico Eagle Mines stock opened at $61.45 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.74 and a current ratio of 2.09. The business’s 50-day simple moving average is $53.62 and its 200-day simple moving average is $51.33. The firm has a market capitalization of $30.64 billion, a PE ratio of 14.95, a PEG ratio of 0.93 and a beta of 1.06. Agnico Eagle Mines has a 52 week low of $43.22 and a 52 week high of $64.19.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Friday, February 16th. The mining company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.09. Agnico Eagle Mines had a return on equity of 5.54% and a net margin of 29.29%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the company posted $0.41 earnings per share. The company’s quarterly revenue was up 26.9% compared to the same quarter last year. Equities research analysts forecast that Agnico Eagle Mines will post 2.47 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.60 annualized dividend and a yield of 2.60%. Agnico Eagle Mines’s dividend payout ratio is 38.93%.

Hedge Funds Weigh In On Agnico Eagle Mines

Several institutional investors and hedge funds have recently added to or reduced their stakes in AEM. Banque Cantonale Vaudoise boosted its holdings in Agnico Eagle Mines by 2.8% during the first quarter. Banque Cantonale Vaudoise now owns 6,190 shares of the mining company’s stock valued at $369,000 after purchasing an additional 169 shares in the last quarter. IHT Wealth Management LLC boosted its holdings in Agnico Eagle Mines by 1.5% during the fourth quarter. IHT Wealth Management LLC now owns 14,049 shares of the mining company’s stock valued at $988,000 after purchasing an additional 208 shares in the last quarter. Avidian Wealth Solutions LLC boosted its holdings in Agnico Eagle Mines by 4.7% during the third quarter. Avidian Wealth Solutions LLC now owns 4,846 shares of the mining company’s stock valued at $220,000 after purchasing an additional 216 shares in the last quarter. Gulf International Bank UK Ltd boosted its holdings in Agnico Eagle Mines by 4.7% during the first quarter. Gulf International Bank UK Ltd now owns 5,030 shares of the mining company’s stock valued at $300,000 after purchasing an additional 226 shares in the last quarter. Finally, Natixis Advisors L.P. boosted its holdings in Agnico Eagle Mines by 1.3% during the third quarter. Natixis Advisors L.P. now owns 18,206 shares of the mining company’s stock valued at $827,000 after purchasing an additional 242 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AEM has been the topic of several research analyst reports. Jefferies Financial Group started coverage on Agnico Eagle Mines in a research report on Thursday, February 29th. They set a “hold” rating and a $54.00 price target on the stock. Raymond James lifted their target price on Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “outperform” rating in a report on Friday, January 12th. TD Securities decreased their target price on Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. CIBC decreased their target price on Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Finally, National Bank Financial restated an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and an average price target of $63.71.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.