Franklin Resources Inc. Has $99.53 Million Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Franklin Resources Inc. cut its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,273,260 shares of the mining company's stock after selling 18,252 shares during the period. Franklin Resources Inc. owned 0.25% of Agnico Eagle Mines worth $99,531,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of AEM. Van ECK Associates Corp boosted its holdings in shares of Agnico Eagle Mines by 3.6% in 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 buying an additional 778,919 shares during the last quarter. Vanguard Group Inc. lifted its stake in Agnico Eagle Mines by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 19,865,285 shares of the mining company's stock valued at $1,554,180,000 after acquiring an additional 331,087 shares during the last quarter. Norges Bank bought a new position in shares of Agnico Eagle Mines in the 4th quarter valued at about $573,446,000. Arrowstreet Capital Limited Partnership grew its position in shares of Agnico Eagle Mines by 81.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company's stock valued at $551,339,000 after acquiring an additional 3,155,927 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in shares of Agnico Eagle Mines by 5.5% in the 4th quarter. CIBC Asset Management Inc now owns 6,383,024 shares of the mining company's stock valued at $499,956,000 after purchasing an additional 332,576 shares during the period. 68.34% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. TD Securities cut their target price on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. Citigroup raised their price target on Agnico Eagle Mines from $100.00 to $140.00 and gave the company a "buy" rating in a report on Monday, March 31st. National Bank Financial upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a report on Friday, March 21st. Raymond James raised their target price on shares of Agnico Eagle Mines from $105.00 to $130.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, Stifel Canada raised shares of Agnico Eagle Mines to a "strong-buy" rating in a report on Wednesday, March 19th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Agnico Eagle Mines currently has a consensus rating of "Buy" and an average price target of $108.00.

Agnico Eagle Mines Price Performance

Shares of AEM traded up $0.64 during mid-day trading on Monday, reaching $100.12. The company had a trading volume of 3,199,994 shares, compared to its average volume of 2,365,640. Agnico Eagle Mines Limited has a 1-year low of $60.15 and a 1-year high of $111.04. 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 company has a market capitalization of $50.36 billion, a price-to-earnings ratio of 26.49, a P/E/G ratio of 0.66 and a beta of 0.87. The company's 50 day simple moving average is $99.77 and its 200 day simple moving average is $88.76.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its quarterly earnings data 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 net margin of 22.88% and a return on equity of 10.45%. Analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.60%. The ex-dividend date was Friday, February 28th. Agnico Eagle Mines's payout ratio is presently 42.33%.

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.