AGF Management Ltd. Acquires 905,328 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

AGF Management Ltd. lifted its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 184.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,395,850 shares of the mining company’s stock after buying an additional 905,328 shares during the period. AGF Management Ltd. owned approximately 0.28% of Agnico Eagle Mines worth $109,205,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in AEM. Versant Capital Management Inc acquired a new position in Agnico Eagle Mines during the 4th quarter worth about $26,000. Smartleaf Asset Management LLC increased its holdings in Agnico Eagle Mines by 859.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock worth $28,000 after buying an additional 318 shares during the last quarter. Decker Retirement Planning Inc. purchased a new stake in Agnico Eagle Mines in the 4th quarter worth about $29,000. Fifth Third Bancorp grew its position in shares of Agnico Eagle Mines by 176.9% in the fourth quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock valued at $32,000 after purchasing an additional 260 shares in the last quarter. Finally, Duncker Streett & Co. Inc. lifted its stake in Agnico Eagle Mines by 37.3% in the 4th quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock worth $32,000 after purchasing an additional 112 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AEM. StockNews.com lowered Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Royal Bank of Canada upped their target price on Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Scotiabank lifted 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. Raymond James set a $105.00 price objective on shares of Agnico Eagle Mines and gave the company an “outperform” rating in a research note on Tuesday, February 4th. Finally, Jefferies Financial Group lifted their target price on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $95.78.

Agnico Eagle Mines Trading Down 1.9 %

NYSE:AEM opened at $96.93 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a 52 week low of $54.02 and a 52 week high of $101.45. The stock has a market cap of $48.75 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 0.66 and a beta of 1.00. The company’s 50 day moving average price is $91.71 and its 200-day moving average price is $85.50.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data 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 return on equity of 10.45% and a net margin of 22.88%. On average, equities research analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Friday, February 28th. Agnico Eagle Mines’s payout ratio is 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.