Agnico Eagle Mines Limited (NYSE:AEM) Stock Position Increased by Jennison Associates LLC

Jennison Associates LLC lifted its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 9.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 533,728 shares of the mining company’s stock after buying an additional 45,889 shares during the quarter. Jennison Associates LLC’s holdings in Agnico Eagle Mines were worth $29,275,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Hussman Strategic Advisors Inc. raised its stake in shares of Agnico Eagle Mines by 33.3% in the 4th quarter. Hussman Strategic Advisors Inc. now owns 204,000 shares of the mining company’s stock worth $11,189,000 after buying an additional 51,000 shares in the last quarter. CWM LLC raised its position in shares of Agnico Eagle Mines by 38.8% during the fourth quarter. CWM LLC now owns 5,802 shares of the mining company’s stock worth $318,000 after purchasing an additional 1,621 shares during the period. Capital Management Corp VA raised its position in shares of Agnico Eagle Mines by 4.8% during the fourth quarter. Capital Management Corp VA now owns 284,648 shares of the mining company’s stock worth $15,613,000 after purchasing an additional 13,135 shares during the period. Signaturefd LLC raised its position in shares of Agnico Eagle Mines by 11.9% during the fourth quarter. Signaturefd LLC now owns 6,257 shares of the mining company’s stock worth $343,000 after purchasing an additional 665 shares during the period. Finally, Ninety One SA PTY Ltd raised its position in shares of Agnico Eagle Mines by 14.5% during the fourth quarter. Ninety One SA PTY Ltd now owns 88,083 shares of the mining company’s stock worth $4,831,000 after purchasing an additional 11,163 shares during the period. Institutional investors own 68.34% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AEM shares. TD Securities cut their target price on Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. CIBC lowered their price target on Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Jefferies Financial Group lifted their price target on Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a report on Monday. Finally, Raymond James lifted their price target on Agnico Eagle Mines from $66.00 to $71.00 and gave the company an “outperform” rating in a report on Friday, January 12th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $64.14.

Agnico Eagle Mines Stock Performance

AEM opened at $63.70 on Thursday. The company has a market cap of $31.76 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 0.93 and a beta of 1.06. The stock has a 50-day moving average of $56.18 and a 200-day moving average of $52.37. Agnico Eagle Mines Limited has a 52-week low of $43.22 and a 52-week high of $64.19. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.74 and a current ratio of 2.09.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Friday, February 16th. The mining company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.09. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.72 billion. Agnico Eagle Mines had a return on equity of 5.54% and a net margin of 29.29%. The firm’s revenue was up 26.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 EPS. As a group, equities research analysts forecast that Agnico Eagle Mines Limited will post 2.52 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.60 annualized dividend and a dividend yield of 2.51%. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 38.93%.

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.