Madison Investment Advisors LLC Purchases New Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Madison Investment Advisors LLC purchased a new stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 11,700 shares of the mining company's stock, valued at approximately $915,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in Agnico Eagle Mines by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,136,854 shares of the mining company's stock valued at $91,681,000 after buying an additional 32,991 shares during the period. Bridgewater Associates LP lifted its stake in shares of Agnico Eagle Mines by 123.2% in the 3rd quarter. Bridgewater Associates LP now owns 204,168 shares of the mining company's stock valued at $16,448,000 after purchasing an additional 112,712 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Agnico Eagle Mines by 78.3% in the 4th quarter. Jones Financial Companies Lllp now owns 3,259 shares of the mining company's stock valued at $255,000 after purchasing an additional 1,431 shares in the last quarter. Caldwell Investment Management Ltd. lifted its stake in shares of Agnico Eagle Mines by 12.0% in the 4th quarter. Caldwell Investment Management Ltd. now owns 87,700 shares of the mining company's stock valued at $6,812,000 after purchasing an additional 9,400 shares in the last quarter. Finally, Forsta AP Fonden lifted its stake in shares of Agnico Eagle Mines by 8.9% in the 4th quarter. Forsta AP Fonden now owns 195,100 shares of the mining company's stock valued at $15,256,000 after purchasing an additional 16,000 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company's stock.

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Agnico Eagle Mines Stock Down 0.3 %

AEM stock traded down $0.30 during midday trading on Wednesday, hitting $105.52. 2,325,407 shares of the company's stock were exchanged, compared to its average volume of 2,336,274. 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 Limited has a 12-month low of $54.02 and a 12-month high of $107.88. The firm has a 50 day moving average price of $94.49 and a 200-day moving average price of $86.40. The stock has a market capitalization of $53.07 billion, a price-to-earnings ratio of 27.91, a price-to-earnings-growth ratio of 0.66 and a beta of 1.00.

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 (EPS) for the quarter, missing the consensus estimate 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 anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.52%. Agnico Eagle Mines's dividend payout ratio (DPR) is 42.33%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AEM. Royal Bank of Canada lifted 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. Scotiabank lifted their price objective on Agnico Eagle Mines from $103.00 to $105.00 and gave the company a "sector outperform" rating in a research note on Tuesday, January 21st. StockNews.com lowered Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th. TD Securities reduced their price target on Agnico Eagle Mines from $108.00 to $106.00 and set a "buy" rating on the stock in a research report on Wednesday, February 19th. Finally, Jefferies Financial Group boosted their price target on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a "hold" rating in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of "Moderate Buy" and a consensus price target of $95.78.

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.