Zurich Insurance Group Ltd FI Buys New Shares in Agnico Eagle Mines Limited (NYSE:AEM)

Zurich Insurance Group Ltd FI purchased a new position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 383,835 shares of the mining company's stock, valued at approximately $30,000,000. Zurich Insurance Group Ltd FI owned about 0.08% of Agnico Eagle Mines as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Visionary Wealth Advisors grew its holdings in Agnico Eagle Mines by 13.6% in the 4th quarter. Visionary Wealth Advisors now owns 32,037 shares of the mining company's stock worth $2,506,000 after acquiring an additional 3,825 shares during the last quarter. Wexford Capital LP bought a new stake in Agnico Eagle Mines in the 4th quarter worth $831,000. Twinbeech Capital LP bought a new stake in Agnico Eagle Mines in the 4th quarter worth $240,000. Two Sigma Investments LP bought a new stake in Agnico Eagle Mines in the 4th quarter worth $1,315,000. Finally, Two Sigma Advisers LP grew its holdings in Agnico Eagle Mines by 187.6% in the 4th quarter. Two Sigma Advisers LP now owns 77,599 shares of the mining company's stock worth $6,069,000 after acquiring an additional 50,622 shares during the last quarter. Institutional investors own 68.34% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Stifel Canada raised shares of Agnico Eagle Mines to a "strong-buy" rating in a report on Wednesday, March 19th. TD Securities cut their price target on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a "buy" rating on the stock in a report on Wednesday, February 19th. BMO Capital Markets initiated coverage on shares of Agnico Eagle Mines in a report on Wednesday, April 16th. They issued an "outperform" rating and a $181.00 price target on the stock. National Bank Financial raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research note on Friday, March 21st. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research note on Monday, April 14th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $124.40.

Agnico Eagle Mines Trading Up 1.7%

Shares of NYSE AEM opened at $108.23 on Tuesday. Agnico Eagle Mines Limited has a 1 year low of $63.01 and a 1 year high of $126.76. The stock has a market cap of $54.47 billion, a P/E ratio of 28.63, a price-to-earnings-growth ratio of 0.66 and a beta of 0.54. The firm 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 (NYSE:AEM - Get Free Report) TSE: AEM last issued 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 net margin of 22.88% and a return on equity of 10.45%. The company had revenue of $2.38 billion during the quarter, compared to analysts' expectations of $2.27 billion. During the same period last year, the company posted $0.76 EPS. Agnico Eagle Mines's revenue was up 34.9% on a year-over-year basis. As a group, sell-side analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors 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 dividend on an annualized basis and a yield of 1.48%. Agnico Eagle Mines's dividend payout ratio (DPR) is currently 34.04%.

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.

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