Oxbow Advisors LLC Has $13.89 Million Position in Agnico Eagle Mines Limited (NYSE:AEM)

Oxbow Advisors LLC reduced its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 0.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 177,556 shares of the mining company’s stock after selling 976 shares during the quarter. Agnico Eagle Mines makes up 1.6% of Oxbow Advisors LLC’s investment portfolio, making the stock its 11th largest holding. Oxbow Advisors LLC’s holdings in Agnico Eagle Mines were worth $13,887,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its holdings in Agnico Eagle Mines by 3.6% in the 4th quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company’s stock worth $1,745,858,000 after purchasing an additional 778,919 shares during the last quarter. FMR LLC lifted its holdings in shares of Agnico Eagle Mines by 43.5% during the third quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock worth $1,213,311,000 after buying an additional 4,562,005 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Agnico Eagle Mines by 5.5% during the fourth quarter. CIBC Asset Management Inc now owns 6,383,024 shares of the mining company’s stock worth $499,956,000 after buying an additional 332,576 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Agnico Eagle Mines by 16.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,892,898 shares of the mining company’s stock worth $474,660,000 after buying an additional 817,240 shares during the last quarter. Finally, National Bank of Canada FI lifted its holdings in shares of Agnico Eagle Mines by 7.4% during the third quarter. National Bank of Canada FI now owns 4,155,349 shares of the mining company’s stock worth $334,749,000 after buying an additional 285,565 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on AEM. StockNews.com upgraded Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a report on Monday, February 17th. Jefferies Financial Group upped their price target on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Tuesday, January 7th. Royal Bank of Canada upped their price target on Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Scotiabank boosted their price objective on Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 21st. Finally, TD Securities lowered their price objective on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $94.63.

Agnico Eagle Mines Stock Performance

Shares of NYSE:AEM opened at $96.09 on Friday. The business’s fifty day moving average price is $87.71 and its two-hundred day moving average price is $83.92. Agnico Eagle Mines Limited has a fifty-two week low of $47.73 and a fifty-two week high of $101.45. The stock has a market capitalization of $48.32 billion, a price-to-earnings ratio of 25.42, a price-to-earnings-growth ratio of 0.67 and a beta of 1.10. 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) (TSE:AEM) last announced its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share 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%. As a group, analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio (DPR) is 42.33%.

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.