Allianz Asset Management GmbH Lowers Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Allianz Asset Management GmbH decreased its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 18.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 553,076 shares of the mining company’s stock after selling 124,681 shares during the quarter. Allianz Asset Management GmbH owned 0.11% of Agnico Eagle Mines worth $43,248,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc acquired a new stake in Agnico Eagle Mines in the fourth quarter valued at approximately $26,000. Decker Retirement Planning Inc. acquired a new stake in Agnico Eagle Mines in the fourth quarter valued at approximately $29,000. Fifth Third Bancorp raised its holdings in Agnico Eagle Mines by 176.9% in the fourth quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock valued at $32,000 after acquiring an additional 260 shares in the last quarter. Montag A & Associates Inc. raised its holdings in Agnico Eagle Mines by 85.2% in the fourth quarter. Montag A & Associates Inc. now owns 500 shares of the mining company’s stock valued at $39,000 after acquiring an additional 230 shares in the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in Agnico Eagle Mines in the third quarter valued at approximately $48,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $96.09 on Friday. The firm’s fifty day simple moving average is $87.71 and its 200-day simple moving average is $83.98. The stock has a market capitalization of $48.32 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 0.67 and a beta of 1.10. Agnico Eagle Mines Limited has a 12 month low of $47.73 and a 12 month high of $101.45. 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 (NYSE:AEM) (TSE:AEM) last announced 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 net margin of 22.88% and a return on equity of 10.45%. As a group, equities analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.67%. Agnico Eagle Mines’s payout ratio is 42.33%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. TD Securities reduced their target price on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday. Scotiabank raised their price objective on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 21st. StockNews.com raised shares of Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a report on Monday, February 17th. Royal Bank of Canada raised their price objective on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Finally, Raymond James set a $105.00 price objective on shares of Agnico Eagle Mines and gave the stock an “outperform” rating in a report on Tuesday, February 4th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $95.78.

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.