Verition Fund Management LLC Invests $607,000 in Agnico Eagle Mines Limited (NYSE:AEM)

Verition Fund Management LLC acquired a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM – Get Rating) (TSE:AEM) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 14,378 shares of the mining company’s stock, valued at approximately $607,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its stake in Agnico Eagle Mines by 1.1% during the 3rd quarter. Van ECK Associates Corp now owns 20,328,727 shares of the mining company’s stock worth $858,478,000 after acquiring an additional 229,889 shares during the period. GQG Partners LLC increased its stake in Agnico Eagle Mines by 12.2% during the 2nd quarter. GQG Partners LLC now owns 17,466,650 shares of the mining company’s stock worth $798,454,000 after acquiring an additional 1,894,887 shares during the period. Vanguard Group Inc. increased its stake in Agnico Eagle Mines by 96.5% during the 1st quarter. Vanguard Group Inc. now owns 15,067,317 shares of the mining company’s stock worth $922,721,000 after acquiring an additional 7,399,467 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Agnico Eagle Mines by 1.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 12,791,623 shares of the mining company’s stock valued at $540,189,000 after purchasing an additional 188,730 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Agnico Eagle Mines by 2.7% in the 3rd quarter. Mackenzie Financial Corp now owns 8,653,593 shares of the mining company’s stock valued at $365,192,000 after purchasing an additional 231,186 shares in the last quarter. Institutional investors own 58.11% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on AEM. National Bank Financial reduced their target price on Agnico Eagle Mines from C$89.00 to C$88.00 in a report on Tuesday, February 14th. Barclays reduced their target price on Agnico Eagle Mines from $65.00 to $62.00 in a report on Friday, February 17th. TD Securities cut their price objective on Agnico Eagle Mines from $68.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, February 17th. TheStreet raised Agnico Eagle Mines from a “c+” rating to a “b-” rating in a report on Wednesday, January 25th. Finally, Raymond James raised their price objective on Agnico Eagle Mines from $65.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, January 31st. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $70.50.

Agnico Eagle Mines Stock Up 1.3 %

Shares of AEM opened at $47.72 on Monday. The company has a market capitalization of $21.83 billion, a PE ratio of 31.81, a PEG ratio of 26.11 and a beta of 0.77. Agnico Eagle Mines Limited has a 12 month low of $36.69 and a 12 month high of $67.14. The stock’s 50-day moving average price is $52.37 and its two-hundred day moving average price is $47.76. The company has a current ratio of 2.30, a quick ratio of 1.03 and a debt-to-equity ratio of 0.08.

Agnico Eagle Mines (NYSE:AEM – Get Rating) (TSE:AEM) last posted its quarterly earnings data on Friday, February 17th. The mining company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. Agnico Eagle Mines had a return on equity of 6.18% and a net margin of 11.67%. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the company posted $0.46 EPS. The business’s quarterly revenue was up 45.5% on a year-over-year basis. On average, analysts anticipate that Agnico Eagle Mines Limited will post 1.83 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Tuesday, February 28th. Agnico Eagle Mines’s payout ratio is 106.67%.

About Agnico Eagle Mines

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Agnico Eagle Mines Ltd. engages in the exploration and production of gold. It operates through the following segments: Northern Business, Southern Business, and Exploration. The Northern Business segment comprises of LaRonde mine, LaRonde Zone 5 mine, Lapa mine, Goldex mine, Meadowbank mine including the Amaruq deposit, Canadian Malartic joint operation, Meliadine project and Kittila mine.