Cadence Wealth Management LLC Increases Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Cadence Wealth Management LLC grew its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,880 shares of the mining company’s stock after acquiring an additional 307 shares during the quarter. Agnico Eagle Mines comprises about 0.7% of Cadence Wealth Management LLC’s portfolio, making the stock its 17th largest position. Cadence Wealth Management LLC’s holdings in Agnico Eagle Mines were worth $1,007,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AEM. FMR LLC raised its stake in shares of Agnico Eagle Mines by 43.5% in the third quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock valued at $1,213,311,000 after acquiring an additional 4,562,005 shares during the period. AGF Management Ltd. raised its stake in shares of 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 acquiring an additional 905,328 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Agnico Eagle Mines by 16.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,892,898 shares of the mining company’s stock valued at $474,660,000 after acquiring an additional 817,240 shares during the period. Van ECK Associates Corp raised its stake in shares of Agnico Eagle Mines by 3.6% in the fourth quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company’s stock valued at $1,745,858,000 after acquiring an additional 778,919 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Agnico Eagle Mines by 262.5% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,060,402 shares of the mining company’s stock valued at $85,413,000 after acquiring an additional 767,912 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Royal Bank of Canada raised their price target on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Jefferies Financial Group raised their price target on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Tuesday, January 7th. StockNews.com downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Scotiabank raised their price target on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 21st. Finally, Raymond James set a $105.00 price target on shares of Agnico Eagle Mines and gave the stock an “outperform” rating in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.78.

Agnico Eagle Mines Stock Up 1.8 %

Shares of Agnico Eagle Mines stock opened at $105.46 on Tuesday. Agnico Eagle Mines Limited has a 1 year low of $54.02 and a 1 year high of $106.76. The stock has a market cap of $53.04 billion, a price-to-earnings ratio of 27.90, a PEG ratio of 0.66 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.86 and a quick ratio of 0.86. The firm’s 50-day moving average is $93.99 and its two-hundred day moving average is $86.23.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share 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%. As a group, research analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend was Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio is currently 42.33%.

About Agnico Eagle Mines

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.