Progeny 3 Inc. Boosts Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Progeny 3 Inc. increased its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 2.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 284,925 shares of the mining company's stock after acquiring an additional 7,390 shares during the quarter. Agnico Eagle Mines comprises 1.8% of Progeny 3 Inc.'s portfolio, making the stock its 21st biggest holding. Progeny 3 Inc. owned 0.06% of Agnico Eagle Mines worth $22,284,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Quantinno Capital Management LP raised its position in shares of Agnico Eagle Mines by 15.7% in the fourth quarter. Quantinno Capital Management LP now owns 20,322 shares of the mining company's stock valued at $1,589,000 after buying an additional 2,761 shares in the last quarter. Man Group plc increased its position in Agnico Eagle Mines by 78.6% during the 4th quarter. Man Group plc now owns 654,138 shares of the mining company's stock worth $51,160,000 after purchasing an additional 287,782 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in Agnico Eagle Mines by 10.7% in the 4th quarter. Nuveen Asset Management LLC now owns 1,027,009 shares of the mining company's stock valued at $80,316,000 after purchasing an additional 99,148 shares during the last quarter. Occudo Quantitative Strategies LP bought a new stake in shares of Agnico Eagle Mines during the fourth quarter worth $497,000. Finally, Lazard Asset Management LLC increased its holdings in shares of Agnico Eagle Mines by 0.4% during the fourth quarter. Lazard Asset Management LLC now owns 126,493 shares of the mining company's stock worth $9,893,000 after buying an additional 462 shares in the last quarter. Institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock traded up $3.45 on Tuesday, reaching $111.67. 1,911,001 shares of the company traded hands, compared to its average volume of 2,522,707. The company has a 50 day moving average of $110.78 and a 200 day moving average of $95.69. 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 Limited has a 52 week low of $63.01 and a 52 week high of $126.76. The firm has a market capitalization of $56.20 billion, a PE ratio of 29.54, a PEG ratio of 0.66 and a beta of 0.54.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its quarterly earnings results on Thursday, April 24th. The mining company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.14. The company had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.27 billion. Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. The company's quarterly revenue was up 34.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.76 earnings per share. 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 company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Monday, December 1st. Agnico Eagle Mines's payout ratio is 34.04%.

Wall Street Analysts Forecast Growth

AEM has been the topic of several research reports. Royal Bank of Canada boosted their price target on Agnico Eagle Mines from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. Cfra Research raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Friday, April 25th. BMO Capital Markets started coverage on shares of Agnico Eagle Mines in a report on Wednesday, April 16th. They set an "outperform" rating and a $181.00 price target for the company. Raymond James upped their price objective on shares of Agnico Eagle Mines from $105.00 to $130.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. Finally, Citigroup boosted their target price on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the company a "buy" rating in a report on Monday, March 31st. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $124.40.

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.