Sprott Inc. Grows Position in Agnico Eagle Mines Limited (NYSE:AEM)

Sprott Inc. raised its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,136,240 shares of the mining company’s stock after acquiring an additional 24,976 shares during the quarter. Agnico Eagle Mines makes up approximately 5.3% of Sprott Inc.’s holdings, making the stock its 2nd biggest position. Sprott Inc. owned approximately 0.23% of Agnico Eagle Mines worth $88,859,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in Agnico Eagle Mines by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,136,854 shares of the mining company’s stock valued at $91,681,000 after purchasing an additional 32,991 shares in the last quarter. Bridgewater Associates LP grew its stake in shares of Agnico Eagle Mines by 123.2% in the third quarter. Bridgewater Associates LP now owns 204,168 shares of the mining company’s stock valued at $16,448,000 after buying an additional 112,712 shares in the last quarter. Caldwell Investment Management Ltd. increased its holdings in Agnico Eagle Mines by 12.0% during the fourth quarter. Caldwell Investment Management Ltd. now owns 87,700 shares of the mining company’s stock worth $6,812,000 after buying an additional 9,400 shares during the last quarter. Forsta AP Fonden raised its position in Agnico Eagle Mines by 8.9% during the fourth quarter. Forsta AP Fonden now owns 195,100 shares of the mining company’s stock worth $15,256,000 after acquiring an additional 16,000 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in Agnico Eagle Mines by 14.8% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 225,965 shares of the mining company’s stock valued at $18,223,000 after acquiring an additional 29,106 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Trading Down 0.5 %

AEM stock opened at $97.04 on Wednesday. Agnico Eagle Mines Limited has a 52 week low of $47.73 and a 52 week high of $101.45. The company has a market capitalization of $48.80 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 0.66 and a beta of 1.10. The company’s 50-day simple moving average is $88.31 and its 200 day simple moving average is $84.39. 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 announced its earnings results on Thursday, February 13th. The mining company reported $1.26 EPS for the quarter, missing the consensus estimate 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, sell-side analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, February 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.65%. Agnico Eagle Mines’s payout ratio is 42.33%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AEM. TD Securities dropped their target price on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Royal Bank of Canada upped their price objective on Agnico Eagle Mines from $96.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. StockNews.com downgraded Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Raymond James set a $105.00 price target on Agnico Eagle Mines and gave the company an “outperform” rating in a research note on Tuesday, February 4th. Finally, Jefferies Financial Group upped their price objective on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $95.78.

About Agnico Eagle Mines

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.