Agnico Eagle Mines Limited (NYSE:AEM) is Van ECK Associates Corp’s 4th Largest Position

Van ECK Associates Corp boosted its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 9.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 23,059,010 shares of the mining company’s stock after purchasing an additional 1,995,127 shares during the quarter. Agnico Eagle Mines comprises about 2.3% of Van ECK Associates Corp’s holdings, making the stock its 4th biggest holding. Van ECK Associates Corp owned 4.63% of Agnico Eagle Mines worth $1,264,791,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AEM. Natixis Advisors L.P. boosted its position in shares of Agnico Eagle Mines by 1.3% during the third quarter. Natixis Advisors L.P. now owns 18,206 shares of the mining company’s stock valued at $827,000 after buying an additional 242 shares during the last quarter. FirstPurpose Wealth LLC boosted its holdings in shares of Agnico Eagle Mines by 3.8% during the 3rd quarter. FirstPurpose Wealth LLC now owns 7,174 shares of the mining company’s stock valued at $326,000 after acquiring an additional 260 shares during the last quarter. PFG Investments LLC grew its stake in shares of Agnico Eagle Mines by 3.5% in the third quarter. PFG Investments LLC now owns 8,977 shares of the mining company’s stock worth $408,000 after acquiring an additional 302 shares during the period. Chilton Capital Management LLC raised its holdings in shares of Agnico Eagle Mines by 13.3% during the fourth quarter. Chilton Capital Management LLC now owns 3,191 shares of the mining company’s stock valued at $175,000 after purchasing an additional 375 shares during the last quarter. Finally, Violich Capital Management Inc. raised its holdings in shares of Agnico Eagle Mines by 2.0% during the fourth quarter. Violich Capital Management Inc. now owns 21,354 shares of the mining company’s stock valued at $1,171,000 after purchasing an additional 425 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Price Performance

AEM stock traded up $0.30 during trading on Monday, reaching $65.82. The company’s stock had a trading volume of 2,212,898 shares, compared to its average volume of 3,312,240. The company’s fifty day moving average is $57.26 and its 200-day moving average is $52.80. Agnico Eagle Mines Limited has a 1 year low of $43.22 and a 1 year high of $67.80. The company has a market capitalization of $32.82 billion, a P/E ratio of 69.28, a price-to-earnings-growth ratio of 0.89 and a beta of 1.06. The company has a quick ratio of 0.88, a current ratio of 2.21 and a debt-to-equity ratio of 0.09.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.16. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter last year, the business posted $0.57 earnings per share. The firm’s revenue was up 21.2% on a year-over-year basis. On average, research analysts expect that Agnico Eagle Mines Limited will post 2.77 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Friday, May 31st. Agnico Eagle Mines’s payout ratio is currently 168.42%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Raymond James boosted their price target on Agnico Eagle Mines from $66.00 to $71.00 and gave the company an “outperform” rating in a research note on Friday, January 12th. CIBC cut their price objective on shares of Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. Jefferies Financial Group lifted their target price on Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a research report on Monday, April 22nd. Finally, TD Securities reduced their price target on Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and an average price target of $64.14.

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.