Old West Investment Management LLC Grows Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Old West Investment Management LLC lifted its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 19.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,355 shares of the mining company’s stock after purchasing an additional 17,785 shares during the period. Agnico Eagle Mines comprises about 3.4% of Old West Investment Management LLC’s portfolio, making the stock its 12th largest holding. Old West Investment Management LLC’s holdings in Agnico Eagle Mines were worth $8,396,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Van ECK Associates Corp raised its stake in shares of Agnico Eagle Mines by 3.6% during the 4th quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company’s stock worth $1,745,858,000 after buying an additional 778,919 shares during the period. Vanguard Group Inc. grew its position in shares of Agnico Eagle Mines by 1.7% in 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 during the period. Norges Bank purchased a new stake in shares of Agnico Eagle Mines during the fourth quarter worth about $573,446,000. Arrowstreet Capital Limited Partnership boosted its holdings in Agnico Eagle Mines by 81.0% in the 4th 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 during the last quarter. Finally, CIBC Asset Management Inc increased its stake in Agnico Eagle Mines by 5.5% during the 4th quarter. CIBC Asset Management Inc now owns 6,383,024 shares of the mining company’s stock worth $499,956,000 after buying an additional 332,576 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Down 8.3 %

Shares of NYSE AEM opened at $99.45 on Friday. Agnico Eagle Mines Limited has a 1 year low of $60.15 and a 1 year high of $111.04. The company has a market capitalization of $50.02 billion, a P/E ratio of 26.31, a P/E/G ratio of 0.66 and a beta of 0.87. The company has a 50 day simple moving average of $99.77 and a 200-day simple moving average of $88.66. 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 issued its quarterly earnings data on Thursday, February 13th. The mining company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. On average, equities research analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.40 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.60 dividend on an annualized basis and a yield of 1.61%. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 42.33%.

Analyst Ratings Changes

Several research firms have recently weighed in on AEM. Royal Bank of Canada raised their target price on Agnico Eagle Mines from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday. National Bank Financial raised shares of Agnico Eagle Mines to a “strong-buy” rating in a research note on Friday, March 21st. Raymond James increased their target price on shares of Agnico Eagle Mines from $105.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday. UBS Group downgraded shares of Agnico Eagle Mines from a “buy” rating to a “neutral” rating and raised their price target for the stock from $100.00 to $110.00 in a research note on Monday, March 31st. Finally, Scotiabank upped 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 note on Tuesday, January 21st. Two 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 stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $108.00.

Agnico Eagle Mines Company 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.