Generali Asset Management SPA SGR Has $56.48 Million Stock Position in Agnico Eagle Mines Limited $AEM

Key Points

• Generali Asset Management reduced its Agnico Eagle Mines stake by 4.7% in the fourth quarter, but still held 333,174 shares valued at about $56.48 million. The position represented 1.2% of its portfolio and was its 14th-largest holding.
• Agnico Eagle Mines reported strong quarterly results, with EPS of $3.40 versus estimates of $3.19 and revenue of $4.0 billion, up 66.1% year over year. The company also announced a quarterly dividend of $0.45 per share, or $1.80 annualized.
• Wall Street sentiment remains positive, with 11 Buy ratings and 5 Hold ratings and an average analyst target price of $238.18. Several firms also recently raised or adjusted their price targets on the stock.

Generali Asset Management SPA SGR trimmed its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 333,174 shares of the mining company's stock after selling 16,505 shares during the quarter. Agnico Eagle Mines makes up 1.2% of Generali Asset Management SPA SGR's portfolio, making the stock its 14th biggest position. Generali Asset Management SPA SGR owned 0.07% of Agnico Eagle Mines worth $56,483,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. increased its position in Agnico Eagle Mines by 13.4% in the third quarter. TD Waterhouse Canada Inc. now owns 1,133,384 shares of the mining company's stock worth $192,951,000 after purchasing an additional 134,147 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Agnico Eagle Mines by 42.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 65,404 shares of the mining company's stock worth $11,088,000 after buying an additional 19,647 shares during the last quarter. Gunderson Capital Management Inc. boosted its holdings in Agnico Eagle Mines by 187.6% during the fourth quarter. Gunderson Capital Management Inc. now owns 48,104 shares of the mining company's stock worth $8,155,000 after buying an additional 31,378 shares during the last quarter. Campbell & CO Investment Adviser LLC boosted its holdings in Agnico Eagle Mines by 1,560.8% during the third quarter. Campbell & CO Investment Adviser LLC now owns 48,677 shares of the mining company's stock worth $8,205,000 after buying an additional 45,746 shares during the last quarter. Finally, TD Asset Management Inc boosted its holdings in Agnico Eagle Mines by 1.5% during the third quarter. TD Asset Management Inc now owns 9,500,193 shares of the mining company's stock worth $1,600,436,000 after buying an additional 143,645 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Price Performance

Shares of AEM opened at $187.77 on Friday. Agnico Eagle Mines Limited has a 1 year low of $103.38 and a 1 year high of $255.24. The company has a current ratio of 3.15, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market cap of $93.98 billion, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 4.16 and a beta of 0.58. The stock's 50-day moving average price is $208.63 and its two-hundred day moving average price is $192.16.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The business had revenue of $4 billion for the quarter, compared to analysts' expectations of $3.96 billion. During the same quarter in the previous year, the business posted $1.53 EPS. Agnico Eagle Mines's revenue for the quarter was up 66.1% on a year-over-year basis. On average, equities analysts predict that Agnico Eagle Mines Limited will post 13.07 earnings per share for the current year.

Agnico Eagle Mines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Monday, June 1st. Agnico Eagle Mines's payout ratio is 16.92%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AEM shares. TD Securities raised their target price on Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a "buy" rating in a report on Tuesday, March 3rd. Canadian Imperial Bank of Commerce reduced their target price on Agnico Eagle Mines from $312.00 to $304.00 and set an "outperform" rating on the stock in a report on Tuesday, April 21st. TD raised their target price on Agnico Eagle Mines from $251.00 to $252.00 and gave the stock a "buy" rating in a report on Tuesday, April 21st. Scotiabank restated an "outperform" rating and set a $280.00 target price on shares of Agnico Eagle Mines in a report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. raised their target price on Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a "neutral" rating in a report on Monday. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $238.18.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited NYSE: AEM is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.

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