Vanguard Group Inc. Increases Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Vanguard Group Inc. increased its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 1.7% in the fourth quarter, Holdings Channel reports. The firm owned 19,865,285 shares of the mining company’s stock after purchasing an additional 331,087 shares during the period. Vanguard Group Inc.’s holdings in Agnico Eagle Mines were worth $1,554,180,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Guardian Partners Inc. acquired a new stake in shares of Agnico Eagle Mines during the fourth quarter worth $4,398,000. Hillsdale Investment Management Inc. lifted its position in Agnico Eagle Mines by 276.5% during the 4th quarter. Hillsdale Investment Management Inc. now owns 709,227 shares of the mining company’s stock worth $55,425,000 after acquiring an additional 520,837 shares during the period. Intellus Advisors LLC purchased a new stake in Agnico Eagle Mines during the 4th quarter valued at about $225,000. American Century Companies Inc. increased its holdings in shares of Agnico Eagle Mines by 10.2% in the fourth quarter. American Century Companies Inc. now owns 759,962 shares of the mining company’s stock valued at $59,443,000 after purchasing an additional 70,157 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of Agnico Eagle Mines in the fourth quarter worth about $1,292,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Up 2.9 %

AEM stock opened at $107.82 on Friday. Agnico Eagle Mines Limited has a 52-week low of $58.18 and a 52-week high of $107.99. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06. The firm has a market cap of $54.23 billion, a P/E ratio of 28.52, a PEG ratio of 0.66 and a beta of 1.00. The company’s 50-day simple moving average is $97.52 and its 200-day simple moving average is $87.58.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued 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 return on equity of 10.45% and a net margin of 22.88%. As a group, equities analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Announces Dividend

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 1.48%. Agnico Eagle Mines’s dividend payout ratio is currently 42.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AEM shares. Scotiabank upped their target price on 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. National Bank Financial upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research note on Friday, March 21st. Stifel Canada upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Wednesday, March 19th. StockNews.com downgraded Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Finally, Royal Bank of Canada boosted their price objective on Agnico Eagle Mines from $96.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus 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.