Intech Investment Management LLC Acquires New Position in Agnico Eagle Mines Limited (NYSE:AEM)

Intech Investment Management LLC acquired a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 4th quarter, Holdings Channel reports. The fund acquired 28,053 shares of the mining company’s stock, valued at approximately $2,194,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Van ECK Associates Corp raised its position in shares of Agnico Eagle Mines by 3.6% in the 4th quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company’s stock valued at $1,745,858,000 after purchasing an additional 778,919 shares during the last quarter. 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 valued at $1,213,311,000 after purchasing an additional 4,562,005 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Agnico Eagle Mines by 5.5% in the 4th quarter. CIBC Asset Management Inc now owns 6,383,024 shares of the mining company’s stock worth $499,956,000 after buying an additional 332,576 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Agnico Eagle Mines by 2.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,046,901 shares of the mining company’s stock worth $472,475,000 after buying an additional 154,003 shares during the period. Finally, National Bank of Canada FI increased its holdings in Agnico Eagle Mines by 7.4% in the 3rd quarter. National Bank of Canada FI now owns 4,155,349 shares of the mining company’s stock worth $334,749,000 after buying an additional 285,565 shares during the period. 68.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AEM has been the topic of several research reports. TD Securities cut their price target on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Scotiabank increased 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 report on Tuesday, January 21st. Stifel Canada upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Wednesday. StockNews.com downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Finally, Jefferies Financial Group increased their price target on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Agnico Eagle Mines currently has an average rating of “Buy” and an average price target of $95.78.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock opened at $105.44 on Friday. The company’s fifty day moving average price is $95.37 and its 200 day moving average price is $86.66. Agnico Eagle Mines Limited has a 1 year low of $55.64 and a 1 year high of $107.88. The stock has a market capitalization of $53.04 billion, a P/E ratio of 27.90, a P/E/G ratio of 0.66 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86.

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 (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%. As a group, equities research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

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

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.