Lbp Am Sa Raises Position in Agnico Eagle Mines Limited (NYSE:AEM)

Lbp Am Sa lifted its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 89.8% in the 4th quarter, Holdings Channel reports. The firm owned 310,192 shares of the mining company’s stock after purchasing an additional 146,789 shares during the quarter. Lbp Am Sa’s holdings in Agnico Eagle Mines were worth $24,260,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Madison Investment Advisors LLC acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter valued at about $915,000. Erste Asset Management GmbH raised its position in Agnico Eagle Mines by 2.3% during the fourth quarter. Erste Asset Management GmbH now owns 126,200 shares of the mining company’s stock worth $9,943,000 after acquiring an additional 2,800 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Agnico Eagle Mines by 2.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,046,901 shares of the mining company’s stock worth $472,475,000 after acquiring an additional 154,003 shares during the last quarter. Avantax Advisory Services Inc. raised its position in Agnico Eagle Mines by 10.8% during the fourth quarter. Avantax Advisory Services Inc. now owns 21,926 shares of the mining company’s stock worth $1,715,000 after acquiring an additional 2,144 shares during the last quarter. Finally, Jupiter Asset Management Ltd. raised its position in Agnico Eagle Mines by 36.4% during the fourth quarter. Jupiter Asset Management Ltd. now owns 604,284 shares of the mining company’s stock worth $47,252,000 after acquiring an additional 161,240 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock opened at $102.64 on Friday. Agnico Eagle Mines Limited has a 1 year low of $54.02 and a 1 year high of $104.45. The firm has a 50 day moving average price of $92.61 and a 200 day moving average price of $85.74. The company has a market cap of $51.62 billion, a price-to-earnings ratio of 27.15, a PEG 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 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%. Sell-side analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio is presently 42.33%.

Analysts Set New Price Targets

AEM has been the subject of a number of analyst reports. TD Securities cut their price objective on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. StockNews.com lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Royal Bank of Canada boosted their price objective on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Raymond James set a $105.00 price objective on shares of Agnico Eagle Mines and gave the company an “outperform” rating in a research report on Tuesday, February 4th. Finally, Scotiabank boosted their price objective on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and an average target price of $95.78.

Agnico Eagle Mines 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.