Huntington National Bank Grows Position in Agnico Eagle Mines Limited (NYSE:AEM)

Huntington National Bank grew its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 23.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,756 shares of the mining company’s stock after acquiring an additional 332 shares during the quarter. Huntington National Bank’s holdings in Agnico Eagle Mines were worth $137,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AEM. Norges Bank purchased a new position in Agnico Eagle Mines in the 4th quarter valued at about $573,446,000. Arrowstreet Capital Limited Partnership boosted its position in Agnico Eagle Mines by 81.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company’s stock worth $551,339,000 after acquiring an additional 3,155,927 shares during the last quarter. AGF Management Ltd. grew its stake in Agnico Eagle Mines by 184.6% in the 4th quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company’s stock worth $109,205,000 after acquiring an additional 905,328 shares during the period. Van ECK Associates Corp raised 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. Finally, Geode Capital Management LLC lifted its stake in shares of Agnico Eagle Mines by 33.2% during the 4th quarter. Geode Capital Management LLC now owns 3,006,646 shares of the mining company’s stock worth $239,844,000 after purchasing an additional 749,932 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

AEM has been the subject of a number of recent analyst reports. Raymond James lifted their price objective on Agnico Eagle Mines from $105.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday. Citigroup increased their price objective on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, March 31st. Jefferies Financial Group raised their target price on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research report on Tuesday, January 7th. Scotiabank increased their price target on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 21st. Finally, Stifel Canada raised shares of Agnico Eagle Mines to a “strong-buy” rating in a research note on Wednesday, March 19th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $108.00.

Agnico Eagle Mines Trading Down 8.3 %

Shares of AEM opened at $99.45 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.86 and a quick ratio of 0.86. Agnico Eagle Mines Limited has a 12 month low of $60.15 and a 12 month high of $111.04. The stock has a market cap of $50.02 billion, a PE ratio of 26.31, a P/E/G ratio of 0.66 and a beta of 0.87. The stock’s 50-day moving average is $99.77 and its two-hundred day moving average is $88.71.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Thursday, February 13th. The mining company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. Equities analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio is currently 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.