Geode Capital Management LLC boosted its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 33.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,006,646 shares of the mining company's stock after buying an additional 749,932 shares during the period. Geode Capital Management LLC owned 0.60% of Agnico Eagle Mines worth $239,844,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Agnico Eagle Mines in the 4th quarter worth about $573,446,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Agnico Eagle Mines by 81.0% during 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 in the last quarter. AGF Management Ltd. lifted its holdings in shares of 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 valued at $109,205,000 after purchasing an additional 905,328 shares during the last quarter. Van ECK Associates Corp increased its position in 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 valued at $1,745,858,000 after buying an additional 778,919 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Agnico Eagle Mines during the fourth quarter valued at $52,503,000. 68.34% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several analysts recently commented on the stock. Scotiabank increased their price objective on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a "sector outperform" rating in a research report on Tuesday, January 21st. Bank of America boosted their target price on Agnico Eagle Mines from $119.00 to $142.00 and gave the stock a "buy" rating in a research report on Tuesday. Jefferies Financial Group raised their price target 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. TD Securities decreased their price objective on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. Finally, Citigroup raised their target price on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a "buy" rating in a report on Monday, March 31st. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $111.40.
Get Our Latest Analysis on Agnico Eagle Mines
Agnico Eagle Mines Price Performance
NYSE AEM traded up $4.98 during trading hours on Thursday, reaching $110.78. The company's stock had a trading volume of 2,899,306 shares, compared to its average volume of 2,643,843. Agnico Eagle Mines Limited has a 1 year low of $60.15 and a 1 year high of $112.45. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $55.72 billion, a price-to-earnings ratio of 29.31, a PEG ratio of 0.66 and a beta of 0.87. The firm's 50-day moving average price is $100.85 and its 200-day moving average price is $89.36.
Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued 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 research analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.
Agnico Eagle Mines Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.60 annualized dividend and a dividend yield of 1.44%. Agnico Eagle Mines's dividend payout ratio (DPR) is 42.33%.
Agnico Eagle Mines Company Profile
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Free Report)
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.
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