Colrain Capital LLC Takes Position in Agnico Eagle Mines Limited (NYSE:AEM)

Colrain Capital LLC purchased a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 23,300 shares of the mining company’s stock, valued at approximately $1,822,000. Agnico Eagle Mines accounts for approximately 1.8% of Colrain Capital LLC’s investment portfolio, making the stock its 20th largest position.

Several other large investors have also recently added to or reduced their stakes in the stock. Versant Capital Management Inc purchased a new stake in shares of Agnico Eagle Mines in the fourth quarter worth about $26,000. Smartleaf Asset Management LLC lifted its position in Agnico Eagle Mines by 859.5% during the 4th 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. purchased a new position in Agnico Eagle Mines in the 4th quarter worth approximately $29,000. Fifth Third Bancorp grew its position in Agnico Eagle Mines by 176.9% in 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 in the last quarter. Finally, Duncker Streett & Co. Inc. raised its stake in shares of Agnico Eagle Mines by 37.3% during the fourth 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 during the period. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. StockNews.com downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. TD Securities cut their price target on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Jefferies Financial Group increased 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. Stifel Canada upgraded Agnico Eagle Mines to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, Scotiabank increased their target price on Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. One research analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $95.78.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $107.34 on Monday. 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 Limited has a 12-month low of $60.15 and a 12-month high of $110.36. The business’s fifty day moving average price is $97.96 and its 200 day moving average price is $87.91. The stock has a market capitalization of $53.99 billion, a PE ratio of 28.40, a price-to-earnings-growth ratio of 0.66 and a beta of 1.00.

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

Agnico Eagle Mines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Friday, February 28th. Agnico Eagle Mines’s payout ratio is 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.