Traders Purchase Large Volume of Put Options on Agnico Eagle Mines (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) was the recipient of unusually large options trading on Monday. Stock traders bought 11,407 put options on the stock. This is an increase of 94% compared to the average daily volume of 5,874 put options.

Agnico Eagle Mines Price Performance

Shares of AEM traded up $1.20 on Monday, reaching $104.80. The stock had a trading volume of 1,035,951 shares, compared to its average volume of 2,331,890. The firm has a market capitalization of $52.71 billion, a PE ratio of 27.73, a PEG ratio of 0.66 and a beta of 1.00. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average of $93.47 and a 200 day moving average of $86.06. Agnico Eagle Mines has a twelve month low of $54.02 and a twelve month high of $105.38.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, February 13th. The mining company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. Sell-side analysts expect that Agnico Eagle Mines will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 42.33%.

Wall Street Analyst Weigh In

AEM has been the subject of several analyst reports. Scotiabank upped their price objective on Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 21st. Jefferies Financial Group upped their price objective on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research report on Tuesday, January 7th. StockNews.com cut Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Royal Bank of Canada upped their price objective on Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Finally, Raymond James set a $105.00 target price on Agnico Eagle Mines and gave the company an “outperform” rating in a research report on Tuesday, February 4th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.78.

Institutional Investors Weigh In On Agnico Eagle Mines

Large investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Agnico Eagle Mines during the fourth quarter worth $573,446,000. FMR LLC raised its position in shares of Agnico Eagle Mines by 43.5% in the 3rd quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock worth $1,213,311,000 after buying an additional 4,562,005 shares during the period. Capital World Investors raised its position in shares of Agnico Eagle Mines by 41.9% in the 4th quarter. Capital World Investors now owns 13,952,061 shares of the mining company’s stock worth $1,091,550,000 after buying an additional 4,121,164 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Agnico Eagle Mines by 81.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company’s stock valued at $551,339,000 after purchasing an additional 3,155,927 shares during the period. Finally, AGF Management Ltd. raised its position in Agnico Eagle Mines by 184.6% in the fourth quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company’s stock valued at $109,205,000 after purchasing an additional 905,328 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

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.