FIL Ltd Has $1.42 Billion Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

FIL Ltd reduced its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 5.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,174,602 shares of the mining company’s stock after selling 984,240 shares during the quarter. Agnico Eagle Mines accounts for about 1.3% of FIL Ltd’s investment portfolio, making the stock its 8th largest position. FIL Ltd’s holdings in Agnico Eagle Mines were worth $1,421,885,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of AEM. Van ECK Associates Corp raised its position in Agnico Eagle Mines by 3.6% during 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 in the last quarter. Vanguard Group Inc. increased its position in shares of Agnico Eagle Mines by 1.7% during the 4th 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 last quarter. Norges Bank purchased a new position in shares of Agnico Eagle Mines during the 4th quarter valued at about $573,446,000. Arrowstreet Capital Limited Partnership lifted its position 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 boosted its stake in Agnico Eagle Mines by 5.5% in the fourth 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. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

NYSE:AEM opened at $99.62 on Tuesday. Agnico Eagle Mines Limited has a one year low of $60.15 and a one year high of $111.04. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86. The firm has a market cap of $50.11 billion, a price-to-earnings ratio of 26.35, a PEG ratio of 0.66 and a beta of 0.87. The firm’s fifty day moving average is $99.97 and its two-hundred day moving average is $88.89.

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

Agnico Eagle Mines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.60 annualized dividend and a dividend yield of 1.61%. Agnico Eagle Mines’s dividend payout ratio is currently 42.33%.

Wall Street Analyst Weigh In

Several research firms have recently commented on AEM. Royal Bank of Canada lifted their price objective on Agnico Eagle Mines from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday. Jefferies Financial Group lifted 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. National Bank Financial upgraded Agnico Eagle Mines to a “strong-buy” rating in a research report on Friday, March 21st. Citigroup boosted their price target on Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, March 31st. Finally, Scotiabank upped their price objective on Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $108.00.

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.