CANADA LIFE ASSURANCE Co Buys 33,107 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

CANADA LIFE ASSURANCE Co boosted its position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 6.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 517,276 shares of the mining company's stock after purchasing an additional 33,107 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.10% of Agnico Eagle Mines worth $40,391,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Agnico Eagle Mines during the fourth quarter worth approximately $573,446,000. Arrowstreet Capital Limited Partnership increased 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 valued at $551,339,000 after purchasing an additional 3,155,927 shares during the last quarter. AGF Management Ltd. boosted its holdings in Agnico Eagle Mines by 184.6% during the fourth quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company's stock worth $109,205,000 after buying an additional 905,328 shares during the last quarter. Van ECK Associates Corp grew 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 buying an additional 778,919 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Agnico Eagle Mines by 33.2% in the 4th quarter. Geode Capital Management LLC now owns 3,006,646 shares of the mining company's stock valued at $239,844,000 after acquiring an additional 749,932 shares during the last quarter. 68.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on AEM. Citigroup upped their target price on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the company a "buy" rating in a research note on Monday, March 31st. Stifel Canada raised Agnico Eagle Mines to a "strong-buy" rating in a research note on Wednesday, March 19th. National Bank Financial raised Agnico Eagle Mines to a "strong-buy" rating in a research note on Friday, March 21st. Scotiabank reissued an "outperform" rating on shares of Agnico Eagle Mines in a research report on Monday, April 14th. Finally, Raymond James lifted their price target on Agnico Eagle Mines from $105.00 to $130.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Agnico Eagle Mines presently has a consensus rating of "Buy" and a consensus target price of $124.40.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock traded down $2.81 during midday trading on Wednesday, reaching $118.30. 7,256,816 shares of the company's stock were exchanged, compared to its average volume of 2,958,927. 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 stock's 50-day simple moving average is $104.72 and its 200 day simple moving average is $91.73. The firm has a market cap of $59.53 billion, a price-to-earnings ratio of 31.30, a P/E/G ratio of 0.66 and a beta of 0.87. Agnico Eagle Mines Limited has a 52 week low of $62.55 and a 52 week high of $126.75.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) 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, analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Friday, February 28th. Agnico Eagle Mines's dividend payout ratio is presently 42.33%.

Agnico Eagle Mines 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.