Cohen & Steers Inc. Buys Shares of 65,292 Agnico Eagle Mines Limited (NYSE:AEM)

Cohen & Steers Inc. bought a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 65,292 shares of the mining company’s stock, valued at approximately $5,106,000.

A number of other large investors have also added to or reduced their stakes in AEM. Jones Financial Companies Lllp raised its holdings in shares of Agnico Eagle Mines by 78.3% during the 4th quarter. Jones Financial Companies Lllp now owns 3,259 shares of the mining company’s stock valued at $255,000 after buying an additional 1,431 shares in the last quarter. Caldwell Investment Management Ltd. raised its stake in shares of Agnico Eagle Mines by 12.0% during the fourth quarter. Caldwell Investment Management Ltd. now owns 87,700 shares of the mining company’s stock worth $6,812,000 after acquiring an additional 9,400 shares in the last quarter. Forsta AP Fonden boosted its stake in shares of Agnico Eagle Mines by 8.9% in the 4th quarter. Forsta AP Fonden now owns 195,100 shares of the mining company’s stock valued at $15,256,000 after purchasing an additional 16,000 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Agnico Eagle Mines by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,256,714 shares of the mining company’s stock valued at $183,491,000 after purchasing an additional 178,999 shares during the last quarter. Finally, Resonant Capital Advisors LLC purchased a new position in Agnico Eagle Mines in the 4th quarter worth $208,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AEM shares. Citigroup raised their price objective on Agnico Eagle Mines from $100.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, March 31st. Raymond James increased their price objective on Agnico Eagle Mines from $105.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, April 4th. Stifel Canada raised shares of Agnico Eagle Mines to a “strong-buy” rating in a research note on Wednesday, March 19th. Scotiabank increased their price target on shares of Agnico Eagle Mines from $105.00 to $126.00 and gave the company a “sector outperform” rating in a research report on Monday. Finally, TD Securities decreased their price objective on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $114.00.

Agnico Eagle Mines Price Performance

AEM opened at $118.48 on Tuesday. Agnico Eagle Mines Limited has a 12-month low of $60.15 and a 12-month high of $119.40. The company has a market cap of $59.63 billion, a price-to-earnings ratio of 31.34, a price-to-earnings-growth ratio of 0.66 and a beta of 0.87. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $102.03 and a two-hundred day simple moving average of $90.08.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. Research analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.40 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.60 annualized dividend and a dividend yield of 1.35%. Agnico Eagle Mines’s payout ratio is currently 42.33%.

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.