State of Tennessee Department of Treasury Sells 320 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

State of Tennessee Department of Treasury lowered its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 0.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 383,216 shares of the mining company’s stock after selling 320 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Agnico Eagle Mines were worth $29,967,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Agnico Eagle Mines during the 4th quarter worth approximately $573,446,000. Capital World Investors boosted its stake in Agnico Eagle Mines by 41.9% during the fourth quarter. Capital World Investors now owns 13,952,061 shares of the mining company’s stock worth $1,091,550,000 after acquiring an additional 4,121,164 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings 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 period. AGF Management Ltd. increased its stake in Agnico Eagle Mines by 184.6% in the fourth 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 in the last quarter. Finally, Van ECK Associates Corp boosted 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 worth $1,745,858,000 after purchasing an additional 778,919 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Trading Up 1.7 %

Shares of AEM opened at $123.59 on Tuesday. The firm has a market cap of $62.20 billion, a P/E ratio of 32.70, a price-to-earnings-growth ratio of 0.66 and a beta of 0.87. Agnico Eagle Mines Limited has a fifty-two week low of $61.56 and a fifty-two week high of $127.61. 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 business has a 50-day moving average of $104.32 and a 200 day moving average of $91.53.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 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%. As a group, research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The business 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. The ex-dividend date was Friday, February 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.29%. Agnico Eagle Mines’s payout ratio is 42.33%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Citigroup increased their price target on Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, March 31st. Jefferies Financial Group upped their price objective on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Tuesday, January 7th. UBS Group lifted their price objective on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, April 11th. Royal Bank of Canada upped their target price on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, April 4th. Finally, BMO Capital Markets initiated coverage on Agnico Eagle Mines in a research report on Wednesday, April 16th. They set an “outperform” rating and a $181.00 target price on the stock. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $124.40.

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.