Generali Asset Management SPA SGR Acquires New Position in Agnico Eagle Mines Limited (NYSE:AEM)

Generali Asset Management SPA SGR acquired a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 535,957 shares of the mining company’s stock, valued at approximately $46,377,000. Agnico Eagle Mines accounts for approximately 1.2% of Generali Asset Management SPA SGR’s portfolio, making the stock its 16th largest holding.

A number of other hedge funds have also modified their holdings of AEM. Duncker Streett & Co. Inc. boosted its holdings in shares of Agnico Eagle Mines by 37.3% in the 4th quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock valued at $32,000 after purchasing an additional 112 shares during the last quarter. Pinnacle Wealth Management Group Inc. lifted its stake in shares of Agnico Eagle Mines by 0.5% in the 4th quarter. Pinnacle Wealth Management Group Inc. now owns 24,407 shares of the mining company’s stock worth $1,909,000 after acquiring an additional 125 shares during the period. Diversify Wealth Management LLC lifted its stake in shares of Agnico Eagle Mines by 2.1% in the 4th quarter. Diversify Wealth Management LLC now owns 6,753 shares of the mining company’s stock worth $569,000 after acquiring an additional 141 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Agnico Eagle Mines by 34.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the mining company’s stock worth $51,000 after acquiring an additional 165 shares during the period. Finally, Scheer Rowlett & Associates Investment Management Ltd. lifted its stake in shares of Agnico Eagle Mines by 3.6% in the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 4,976 shares of the mining company’s stock worth $389,000 after acquiring an additional 171 shares during the period. 68.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AEM. Jefferies Financial Group increased their target price on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Tuesday, January 7th. TD Securities decreased their price objective 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. Scotiabank upped their target price on Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 21st. Royal Bank of Canada boosted their price objective on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Finally, StockNews.com cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.78.

Agnico Eagle Mines Price Performance

NYSE:AEM opened at $105.46 on Tuesday. Agnico Eagle Mines Limited has a 1-year low of $54.02 and a 1-year high of $106.76. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The firm has a fifty day simple moving average of $93.99 and a 200 day simple moving average of $86.23. The stock has a market capitalization of $53.04 billion, a PE ratio of 27.90, a P/E/G ratio of 0.66 and a beta of 1.00.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share 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%. On average, research analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.52%. The ex-dividend date was Friday, February 28th. Agnico Eagle Mines’s payout ratio is 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.