CIBC Asset Management Inc Boosts Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

CIBC Asset Management Inc grew its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 5.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,383,024 shares of the mining company’s stock after purchasing an additional 332,576 shares during the quarter. Agnico Eagle Mines accounts for about 1.6% of CIBC Asset Management Inc’s holdings, making the stock its 16th biggest holding. CIBC Asset Management Inc owned about 1.27% of Agnico Eagle Mines worth $499,956,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Van ECK Associates Corp boosted its stake in shares of Agnico Eagle Mines by 3.6% in the fourth quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company’s stock valued at $1,745,858,000 after purchasing an additional 778,919 shares during the period. FMR LLC lifted its stake in Agnico Eagle Mines by 43.5% in the third quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock worth $1,213,311,000 after acquiring an additional 4,562,005 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Agnico Eagle Mines by 16.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,892,898 shares of the mining company’s stock worth $474,660,000 after acquiring an additional 817,240 shares during the last quarter. National Bank of Canada FI lifted its stake in Agnico Eagle Mines by 7.4% in the third quarter. National Bank of Canada FI now owns 4,155,349 shares of the mining company’s stock worth $334,749,000 after acquiring an additional 285,565 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Agnico Eagle Mines by 17.1% in the third quarter. The Manufacturers Life Insurance Company now owns 4,051,140 shares of the mining company’s stock worth $326,571,000 after acquiring an additional 591,178 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $95.75 on Monday. The firm’s fifty day simple moving average is $86.51 and its 200-day simple moving average is $83.26. The stock has a market capitalization of $48.09 billion, a price-to-earnings ratio of 47.87, a PEG ratio of 0.66 and a beta of 1.10. Agnico Eagle Mines Limited has a 12 month low of $45.75 and a 12 month high of $101.45. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 0.83.

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 12.86% and a return on equity of 8.88%. As a group, equities analysts forecast that Agnico Eagle Mines Limited will post 4.14 earnings per share for the current year.

Agnico Eagle Mines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.60 annualized dividend and a yield of 1.67%. Agnico Eagle Mines’s dividend payout ratio is currently 80.00%.

Analyst Upgrades and Downgrades

AEM has been the subject of a number of recent research reports. Royal Bank of Canada lifted their price target 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. Jefferies Financial Group boosted their price objective 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. Finally, Scotiabank boosted 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 research report on Tuesday, January 21st. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $92.75.

About Agnico Eagle Mines

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.