Ameriprise Financial Inc. Has $16.78 Million Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Ameriprise Financial Inc. trimmed its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 10.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 202,637 shares of the mining company's stock after selling 24,388 shares during the quarter. Ameriprise Financial Inc.'s holdings in Agnico Eagle Mines were worth $16,777,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Van ECK Associates Corp grew its stake in shares of Agnico Eagle Mines by 3.6% in the 4th 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. Vanguard Group Inc. grew its position in 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 acquiring an additional 331,087 shares during the period. Capital World Investors raised its stake in Agnico Eagle Mines by 41.9% during the fourth quarter. Capital World Investors now owns 13,952,061 shares of the mining company's stock worth $1,091,550,000 after acquiring an additional 4,121,164 shares in the last quarter. Norges Bank acquired a new position in Agnico Eagle Mines during the fourth quarter worth $573,446,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Agnico Eagle Mines by 81.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company's stock valued at $551,339,000 after acquiring an additional 3,155,927 shares during the period. Institutional investors and hedge funds own 68.34% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Cfra Research upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Friday, April 25th. Citigroup lifted their target price on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the company a "buy" rating in a research note on Monday, March 31st. Bank of America increased their price target on Agnico Eagle Mines from $119.00 to $142.00 and gave the stock a "buy" rating in a research report on Tuesday, April 8th. BMO Capital Markets initiated coverage on Agnico Eagle Mines in a research report on Wednesday, April 16th. They issued an "outperform" rating and a $181.00 price objective for the company. Finally, Raymond James increased their target price on Agnico Eagle Mines from $105.00 to $130.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. 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 company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $124.40.

Agnico Eagle Mines Trading Up 2.4%

AEM stock traded up $2.70 during midday trading on Wednesday, reaching $115.27. The company's stock had a trading volume of 2,933,968 shares, compared to its average volume of 2,538,821. The business's 50-day simple moving average is $110.97 and its 200-day simple moving average is $95.81. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a 52 week low of $63.01 and a 52 week high of $126.76. The stock has a market cap of $58.01 billion, a PE ratio of 30.43, a price-to-earnings-growth 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 for the quarter, beating analysts' consensus estimates of $1.39 by $0.14. The company had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.27 billion. Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. The firm's quarterly revenue was up 34.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.76 EPS. As a group, sell-side analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.60 annualized dividend and a dividend yield of 1.39%. Agnico Eagle Mines's payout ratio is currently 34.04%.

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.