CoreCommodity Management LLC Acquires 3,808 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

CoreCommodity Management LLC increased its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 12.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,933 shares of the mining company’s stock after acquiring an additional 3,808 shares during the period. CoreCommodity Management LLC’s holdings in Agnico Eagle Mines were worth $2,653,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Versant Capital Management Inc acquired a new stake in Agnico Eagle Mines during the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC raised its stake in Agnico Eagle Mines by 859.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock worth $28,000 after acquiring an additional 318 shares in the last quarter. Decker Retirement Planning Inc. acquired a new position in Agnico Eagle Mines during the fourth quarter worth $29,000. Fifth Third Bancorp lifted its holdings in shares of Agnico Eagle Mines by 176.9% during the fourth quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock valued at $32,000 after acquiring an additional 260 shares during the period. Finally, Duncker Streett & Co. Inc. boosted its stake in shares of Agnico Eagle Mines by 37.3% in the 4th quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock valued at $32,000 after purchasing an additional 112 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on AEM. Scotiabank restated an “outperform” rating on shares of Agnico Eagle Mines in a research report on Monday, April 14th. Bank of America boosted 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. StockNews.com downgraded Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. BMO Capital Markets assumed coverage on Agnico Eagle Mines in a report on Wednesday, April 16th. They set an “outperform” rating and a $181.00 target price on the stock. Finally, Jefferies Financial Group lifted their price target on Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Agnico Eagle Mines presently has an average rating of “Buy” and an average target price of $124.40.

Agnico Eagle Mines Trading Up 4.4 %

Shares of NYSE AEM opened at $119.28 on Wednesday. Agnico Eagle Mines Limited has a fifty-two week low of $63.01 and a fifty-two week high of $126.76. The firm has a market capitalization of $60.03 billion, a P/E ratio of 31.56, a P/E/G ratio of 0.66 and a beta of 0.54. 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’s 50 day simple moving average is $108.68 and its 200 day simple moving average is $94.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Thursday, April 24th. The mining company reported $1.53 earnings per share 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 the consensus estimate of $2.27 billion. During the same quarter in the prior year, the business posted $0.76 EPS. The firm’s quarterly revenue was up 34.9% on a year-over-year basis. On average, analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The business also recently announced 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 1.34%. Agnico Eagle Mines’s payout ratio 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.