Jennison Associates LLC Has $29.28 Million Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Jennison Associates LLC increased its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 9.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 533,728 shares of the mining company's stock after acquiring an additional 45,889 shares during the quarter. Jennison Associates LLC owned approximately 0.11% of Agnico Eagle Mines worth $29,275,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Bruce G. Allen Investments LLC purchased a new position in shares of Agnico Eagle Mines during the fourth quarter valued at $33,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Agnico Eagle Mines during the third quarter valued at $34,000. CVA Family Office LLC purchased a new position in shares of Agnico Eagle Mines during the fourth quarter valued at $36,000. Anchor Investment Management LLC purchased a new position in shares of Agnico Eagle Mines during the fourth quarter valued at $55,000. Finally, Assetmark Inc. purchased a new position in shares of Agnico Eagle Mines during the third quarter valued at $87,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Up 1.9 %

Shares of NYSE:AEM traded up $1.23 on Thursday, reaching $64.92. The company had a trading volume of 4,837,525 shares, compared to its average volume of 3,302,061. Agnico Eagle Mines Limited has a twelve month low of $43.22 and a twelve month high of $65.49. The stock has a 50-day moving average price of $56.54 and a 200 day moving average price of $52.46. The stock has a market capitalization of $32.37 billion, a P/E ratio of 15.80, a P/E/G ratio of 0.94 and a beta of 1.06. The company has a quick ratio of 0.74, a current ratio of 2.09 and a debt-to-equity ratio of 0.10.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings results on Friday, February 16th. The mining company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.09. Agnico Eagle Mines had a return on equity of 5.54% and a net margin of 29.29%. The company had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The business's quarterly revenue was up 26.9% compared to the same quarter last year. On average, equities analysts expect that Agnico Eagle Mines Limited will post 2.52 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.60 annualized dividend and a dividend yield of 2.46%. Agnico Eagle Mines's dividend payout ratio is presently 38.93%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. CIBC lowered their price target on Agnico Eagle Mines from $72.00 to $69.00 and set an "outperform" rating on the stock in a report on Wednesday, February 7th. Raymond James lifted their price objective on Agnico Eagle Mines from $66.00 to $71.00 and gave the company an "outperform" rating in a research report on Friday, January 12th. Jefferies Financial Group lifted their price objective on Agnico Eagle Mines from $54.00 to $57.00 and gave the company a "hold" rating in a research report on Monday. TD Securities reduced their price objective on Agnico Eagle Mines from $64.00 to $62.00 and set a "buy" rating for the company in a research report on Wednesday, February 21st. Finally, National Bank Financial reissued an "outperform overweight" rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.14.

Agnico Eagle Mines 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.