Agnico Eagle Mines Limited (NYSE:AEM) is Paragon Associates & Paragon Associates II Joint Venture’s Largest Position

Paragon Associates & Paragon Associates II Joint Venture lifted its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 19.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 125,000 shares of the mining company’s stock after buying an additional 20,000 shares during the period. Agnico Eagle Mines makes up about 22.6% of Paragon Associates & Paragon Associates II Joint Venture’s portfolio, making the stock its largest position. Paragon Associates & Paragon Associates II Joint Venture’s holdings in Agnico Eagle Mines were worth $9,776,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Norges Bank purchased a new position in shares of Agnico Eagle Mines in the 4th quarter worth approximately $573,446,000. Arrowstreet Capital Limited Partnership boosted its position in Agnico Eagle Mines by 81.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company’s stock worth $551,339,000 after purchasing an additional 3,155,927 shares during the last quarter. AGF Management Ltd. grew its stake in Agnico Eagle Mines by 184.6% in the 4th quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company’s stock valued at $109,205,000 after purchasing an additional 905,328 shares during the period. Van ECK Associates Corp increased its position in shares of Agnico Eagle Mines by 3.6% during 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. Finally, Raymond James Financial Inc. bought a new stake in shares of Agnico Eagle Mines during the 4th quarter worth $52,503,000. Institutional investors own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on AEM shares. Scotiabank increased their price target 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. UBS Group lowered shares of Agnico Eagle Mines from a “buy” rating to a “neutral” rating and raised their price target for the stock from $100.00 to $110.00 in a research note on Monday. National Bank Financial upgraded Agnico Eagle Mines to a “strong-buy” rating in a research note on Friday, March 21st. Royal Bank of Canada raised their target price on Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Finally, TD Securities lowered their target price on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $104.11.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $108.43 on Tuesday. Agnico Eagle Mines Limited has a 52-week low of $60.15 and a 52-week high of $110.36. The stock’s 50-day simple moving average is $98.43 and its 200 day simple moving average is $88.10. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86. The stock has a market capitalization of $54.54 billion, a price-to-earnings ratio of 28.68, a price-to-earnings-growth ratio of 0.66 and a beta of 1.00.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share 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%. Research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.48%. The ex-dividend date was Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio is 42.33%.

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.