Muhlenkamp & Co. Inc. Makes New $11.77 Million Investment in Agnico Eagle Mines Limited (NYSE:AEM)

Muhlenkamp & Co. Inc. bought a new position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 150,532 shares of the mining company's stock, valued at approximately $11,773,000. Agnico Eagle Mines comprises about 3.6% of Muhlenkamp & Co. Inc.'s portfolio, making the stock its 14th largest position.

A number of other institutional investors also recently modified their holdings of the stock. Versant Capital Management Inc bought a new position in Agnico Eagle Mines in the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC grew its position in shares of Agnico Eagle Mines by 859.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company's stock worth $28,000 after buying an additional 318 shares during the period. Decker Retirement Planning Inc. bought a new stake in Agnico Eagle Mines in the fourth quarter valued at approximately $29,000. Fifth Third Bancorp increased its position in shares of Agnico Eagle Mines by 176.9% in the 4th quarter. Fifth Third Bancorp now owns 407 shares of the mining company's stock valued at $32,000 after buying an additional 260 shares in the last quarter. Finally, Duncker Streett & Co. Inc. raised its position in shares of Agnico Eagle Mines by 37.3% during the fourth quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company's stock worth $32,000 after purchasing an additional 112 shares during the period. 68.34% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

Several analysts have commented on AEM shares. Scotiabank raised their target price on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a "sector outperform" rating in a report on Tuesday, January 21st. National Bank Financial upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a report on Friday, March 21st. TD Securities reduced 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. StockNews.com cut Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th. Finally, Stifel Canada upgraded Agnico Eagle Mines to a "strong-buy" rating in a report on Wednesday, March 19th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Agnico Eagle Mines has an average rating of "Buy" and a consensus price target of $111.90.

Agnico Eagle Mines Stock Up 5.5 %

AEM traded up $6.18 on Friday, hitting $117.73. 7,646,636 shares of the company were exchanged, compared to its average volume of 2,434,620. Agnico Eagle Mines Limited has a 12 month low of $60.15 and a 12 month high of $118.74. The company has a market cap of $59.25 billion, a PE ratio of 31.14, a PEG ratio of 0.66 and a beta of 0.87. 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 fifty day moving average is $101.63 and its 200-day moving average is $89.78.

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 (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. Equities research analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Friday, February 28th. Agnico Eagle Mines's payout ratio is presently 42.33%.

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.