Columbia Asset Management Makes New Investment in Agnico Eagle Mines Limited (NYSE:AEM)

Columbia Asset Management bought a new position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 2,030 shares of the mining company's stock, valued at approximately $220,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Van ECK Associates Corp increased its holdings in 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 worth $1,745,858,000 after purchasing an additional 778,919 shares in the last quarter. Vanguard Group Inc. increased its holdings in Agnico Eagle Mines by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 19,865,285 shares of the mining company's stock worth $1,554,180,000 after purchasing an additional 331,087 shares in the last quarter. 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 purchasing an additional 4,121,164 shares in the last quarter. Deutsche Bank AG increased its holdings in Agnico Eagle Mines by 0.7% in the 4th quarter. Deutsche Bank AG now owns 11,916,739 shares of the mining company's stock worth $932,008,000 after purchasing an additional 87,410 shares in the last quarter. Finally, Norges Bank acquired a new position in Agnico Eagle Mines in the 4th quarter worth about $573,446,000. Institutional investors and hedge funds own 68.34% of the company's stock.

Agnico Eagle Mines Trading Down 3.4%

Shares of Agnico Eagle Mines stock traded down $4.13 on Friday, hitting $117.93. 3,712,237 shares of the company's stock traded hands, compared to its average volume of 2,565,703. Agnico Eagle Mines Limited has a one year low of $63.43 and a one 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. The company has a fifty day moving average of $114.38 and a two-hundred day moving average of $99.33. The company has a market capitalization of $59.37 billion, a price-to-earnings ratio of 31.20, a price-to-earnings-growth ratio of 0.66 and a beta of 0.51.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its earnings results on Thursday, April 24th. The mining company reported $1.53 EPS for the quarter, beating the consensus estimate 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 in the prior year, the company earned $0.76 EPS. The firm's revenue for the quarter was up 34.9% compared to the same quarter last year. As a group, sell-side analysts expect 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 announced a dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $0.40 per share. The ex-dividend date is Friday, May 30th. This represents a dividend yield of 1.36%. Agnico Eagle Mines's payout ratio is 34.04%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Bank of America upped their target price on Agnico Eagle Mines from $119.00 to $142.00 and gave the stock a "buy" rating in a report on Tuesday, April 8th. Scotiabank reiterated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Monday, April 14th. Wall Street Zen lowered Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. TD Securities reduced their price target on Agnico Eagle Mines from $108.00 to $106.00 and set a "buy" rating on the stock in a research report on Wednesday, February 19th. Finally, 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 target on the stock. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of "Buy" and an average target price of $127.40.

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.