Zurcher Kantonalbank Zurich Cantonalbank Purchases 5,319 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 203,492 shares of the mining company’s stock after acquiring an additional 5,319 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Agnico Eagle Mines were worth $11,212,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Blair William & Co. IL lifted its stake in Agnico Eagle Mines by 5.9% in the third quarter. Blair William & Co. IL now owns 23,718 shares of the mining company’s stock valued at $1,078,000 after buying an additional 1,313 shares during the period. Raymond James & Associates lifted its stake in Agnico Eagle Mines by 15.5% in the fourth quarter. Raymond James & Associates now owns 364,440 shares of the mining company’s stock valued at $19,990,000 after buying an additional 48,782 shares during the period. Wellington Management Group LLP lifted its stake in Agnico Eagle Mines by 5.7% in the third quarter. Wellington Management Group LLP now owns 632,403 shares of the mining company’s stock valued at $28,752,000 after buying an additional 34,072 shares during the period. ANTIPODES PARTNERS Ltd acquired a new position in Agnico Eagle Mines in the fourth quarter valued at about $41,610,000. Finally, Sprott Inc. lifted its stake in Agnico Eagle Mines by 4.1% in the third quarter. Sprott Inc. now owns 1,412,300 shares of the mining company’s stock valued at $65,249,000 after buying an additional 55,032 shares during the period. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Up 0.6 %

NYSE AEM opened at $63.84 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.09 and a quick ratio of 0.74. The firm has a market cap of $31.83 billion, a P/E ratio of 15.53, a P/E/G ratio of 0.94 and a beta of 1.06. Agnico Eagle Mines Limited has a one year low of $43.22 and a one year high of $64.19. The stock’s 50-day moving average is $55.15 and its 200-day moving average is $51.92.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Friday, February 16th. The mining company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.09. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.72 billion. Agnico Eagle Mines had a return on equity of 5.54% and a net margin of 29.29%. Agnico Eagle Mines’s quarterly revenue was up 26.9% on a year-over-year basis. During the same period last year, the company earned $0.41 earnings per share. Sell-side analysts anticipate that Agnico Eagle Mines Limited will post 2.51 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.51%. Agnico Eagle Mines’s payout ratio is presently 38.93%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AEM shares. TD Securities cut their target price on Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. Jefferies Financial Group began coverage on Agnico Eagle Mines in a research note on Thursday, February 29th. They issued a “hold” rating and a $54.00 target price on the stock. Raymond James raised their price target on Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “outperform” rating in a research report on Friday, January 12th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. Finally, CIBC dropped their price target on Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $63.71.

Agnico Eagle Mines Company 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.