9,578 Shares in Agnico Eagle Mines Limited (NYSE:AEM) Acquired by Summit Financial LLC

Summit Financial LLC acquired a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 9,578 shares of the mining company’s stock, valued at approximately $749,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Van ECK Associates Corp increased its holdings in Agnico Eagle Mines by 3.6% in 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 acquiring an additional 778,919 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Agnico Eagle Mines by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 19,865,285 shares of the mining company’s stock valued at $1,554,180,000 after purchasing an additional 331,087 shares in the last quarter. Norges Bank bought a new stake in shares of Agnico Eagle Mines in the fourth quarter worth about $573,446,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Agnico Eagle Mines by 81.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company’s stock worth $551,339,000 after buying an additional 3,155,927 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in Agnico Eagle Mines by 5.5% during the fourth quarter. CIBC Asset Management Inc now owns 6,383,024 shares of the mining company’s stock valued at $499,956,000 after buying an additional 332,576 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. StockNews.com cut Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. 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. National Bank Financial upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Friday, March 21st. TD Securities lowered their price target 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, Royal Bank of Canada lifted their price target on Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $104.11.

Agnico Eagle Mines Price Performance

Shares of AEM stock opened at $107.52 on Thursday. The stock has a 50 day moving average price of $99.18 and a 200 day moving average price of $88.41. Agnico Eagle Mines Limited has a 52-week low of $60.15 and a 52-week high of $110.36. 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 firm has a market capitalization of $54.08 billion, a P/E ratio of 28.44, a P/E/G ratio of 0.66 and a beta of 0.87.

Agnico Eagle Mines (NYSE:AEM) (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 analysts’ consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. As a group, sell-side analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio is presently 42.33%.

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.