Avalon Capital Management Buys 3,680 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Avalon Capital Management grew its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 57.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 10,051 shares of the mining company’s stock after purchasing an additional 3,680 shares during the period. Avalon Capital Management’s holdings in Agnico Eagle Mines were worth $786,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AEM. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 acquiring an additional 32,991 shares in the last quarter. Bridgewater Associates LP grew its holdings 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 acquiring an additional 112,712 shares in the last quarter. Caldwell Investment Management Ltd. grew its holdings in shares of Agnico Eagle Mines by 12.0% in the fourth quarter. Caldwell Investment Management Ltd. now owns 87,700 shares of the mining company’s stock valued at $6,812,000 after acquiring an additional 9,400 shares in the last quarter. Forsta AP Fonden grew its holdings in shares of Agnico Eagle Mines by 8.9% in the fourth quarter. Forsta AP Fonden now owns 195,100 shares of the mining company’s stock valued at $15,256,000 after acquiring an additional 16,000 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of 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 in the last quarter. 68.34% of the stock is owned by institutional investors.

Agnico Eagle Mines Stock Up 1.4 %

Shares of NYSE:AEM opened at $97.47 on Tuesday. The stock’s 50-day moving average price is $88.01 and its 200-day moving average price is $84.23. Agnico Eagle Mines Limited has a 12-month low of $47.73 and a 12-month high of $101.45. The stock has a market capitalization of $49.02 billion, a P/E ratio of 25.79, a price-to-earnings-growth ratio of 0.66 and a beta of 1.10. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06.

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%. On average, equities analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.64%. Agnico Eagle Mines’s dividend payout ratio is currently 42.33%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports 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 report on Tuesday, January 21st. Jefferies Financial Group upped their price objective on Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Tuesday, January 7th. 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 upgraded Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 17th. Finally, Raymond James set a $105.00 price objective on Agnico Eagle Mines and gave the company an “outperform” rating in a research note on Tuesday, February 4th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Agnico Eagle Mines has a consensus rating of “Buy” and a consensus target price of $95.78.

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.