Bamco Inc. NY Trims Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Bamco Inc. NY lowered its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 6.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,146 shares of the mining company's stock after selling 3,600 shares during the period. Bamco Inc. NY's holdings in Agnico Eagle Mines were worth $3,844,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AEM. Norges Bank purchased a new position in shares of Agnico Eagle Mines during the 4th quarter valued at approximately $573,446,000. Capital World Investors increased its holdings in Agnico Eagle Mines by 41.9% in the 4th 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. Arrowstreet Capital Limited Partnership raised its position in 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 worth $551,339,000 after acquiring an additional 3,155,927 shares during the period. AGF Management Ltd. lifted its holdings in Agnico Eagle Mines by 184.6% during the fourth quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company's stock valued at $109,205,000 after purchasing an additional 905,328 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of 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 worth $1,745,858,000 after purchasing an additional 778,919 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Up 2.1 %

Shares of NYSE AEM traded up $2.38 during mid-day trading on Friday, hitting $117.04. The company had a trading volume of 2,383,999 shares, compared to its average volume of 2,471,329. The company has a market capitalization of $58.90 billion, a PE ratio of 30.96, a price-to-earnings-growth ratio of 0.66 and a beta of 0.54. The business's 50-day simple moving average is $109.90 and its 200 day simple moving average is $94.79. Agnico Eagle Mines Limited has a 1-year low of $63.01 and a 1-year high of $126.76. 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 - 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 analysts' consensus estimates of $1.39 by $0.14. Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. The company had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter last year, the company earned $0.76 EPS. Agnico Eagle Mines's revenue for the quarter was up 34.9% compared to the same quarter last year. On average, analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The firm also recently disclosed 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 is Monday, December 1st. This represents a $1.60 annualized dividend and a dividend yield of 1.37%. Agnico Eagle Mines's dividend payout ratio is currently 34.04%.

Analysts Set New Price Targets

AEM has been the subject of several research reports. Stifel Canada upgraded Agnico Eagle Mines to a "strong-buy" rating in a research note on Wednesday, March 19th. 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 research report on Friday, April 4th. UBS Group raised their price objective on Agnico Eagle Mines from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, April 11th. Cfra Research raised shares of Agnico Eagle Mines to a "strong-buy" rating in a report on Friday, April 25th. Finally, Bank of America upped their target price on Agnico Eagle Mines from $119.00 to $142.00 and gave the company a "buy" rating in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating, seven have given 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.

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.