4,175 Shares in Agnico Eagle Mines Limited (NYSE:AEM) Acquired by DAVENPORT & Co LLC

DAVENPORT & Co LLC purchased a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 4,175 shares of the mining company’s stock, valued at approximately $229,000.

A number of other institutional investors have also added to or reduced their stakes in AEM. Vanguard Group Inc. raised 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 buying an additional 7,399,467 shares during the period. Norges Bank acquired a new position in Agnico Eagle Mines during the 4th quarter worth approximately $285,370,000. Invesco Ltd. raised its stake in Agnico Eagle Mines by 57.5% during the 1st quarter. Invesco Ltd. now owns 3,884,284 shares of the mining company’s stock worth $237,874,000 after buying an additional 1,417,607 shares during the period. Mackenzie Financial Corp increased its holdings in Agnico Eagle Mines by 13.9% during the 4th quarter. Mackenzie Financial Corp now owns 9,852,941 shares of the mining company’s stock worth $511,175,000 after purchasing an additional 1,199,348 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Agnico Eagle Mines by 8.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,380,993 shares of the mining company’s stock worth $383,555,000 after purchasing an additional 665,356 shares in the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on AEM shares. National Bank Financial reissued an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Wednesday, January 3rd. Jefferies Financial Group started coverage on Agnico Eagle Mines in a report on Thursday, February 29th. They set a “hold” rating and a $54.00 price objective for the company. TD Securities decreased their price objective on Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. CIBC decreased their price objective on Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Finally, Raymond James upped their target price on Agnico Eagle Mines from $66.00 to $71.00 and gave the company an “outperform” rating in a report on Friday, January 12th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Agnico Eagle Mines presently has an average rating of “Moderate Buy” and a consensus target price of $63.71.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $61.26 on Thursday. The stock has a fifty day simple moving average of $53.14 and a two-hundred day simple moving average of $51.16. Agnico Eagle Mines Limited has a 1-year low of $43.22 and a 1-year high of $62.77. The firm has a market cap of $30.51 billion, a price-to-earnings ratio of 14.91, a price-to-earnings-growth ratio of 26.57 and a beta of 1.06. The company has a current ratio of 2.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.10.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Friday, February 16th. The mining company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.09. Agnico Eagle Mines had a return on equity of 5.54% and a net margin of 29.29%. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the company earned $0.41 earnings per share. Agnico Eagle Mines’s revenue was up 26.9% compared to the same quarter last year. Analysts anticipate that Agnico Eagle Mines Limited will post 2.3 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.61%. The ex-dividend date was Thursday, February 29th. Agnico Eagle Mines’s dividend payout ratio (DPR) is 38.93%.

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.