Old West Investment Management LLC Grows Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Old West Investment Management LLC boosted its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 19.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,355 shares of the mining company’s stock after purchasing an additional 17,785 shares during the quarter. Agnico Eagle Mines comprises approximately 3.4% of Old West Investment Management LLC’s portfolio, making the stock its 12th biggest position. Old West Investment Management LLC’s holdings in Agnico Eagle Mines were worth $8,396,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Versant Capital Management Inc purchased a new stake in shares of Agnico Eagle Mines in the 4th quarter valued at about $26,000. Smartleaf Asset Management LLC boosted its holdings in shares of Agnico Eagle Mines by 859.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock valued at $28,000 after acquiring an additional 318 shares during the period. Decker Retirement Planning Inc. purchased a new position in shares of Agnico Eagle Mines during the fourth quarter worth approximately $29,000. Fifth Third Bancorp increased its holdings in shares of Agnico Eagle Mines by 176.9% in the 4th 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. raised its position in 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 during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. TD Securities lowered 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. Raymond James raised their price target on Agnico Eagle Mines from $105.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday. National Bank Financial raised Agnico Eagle Mines to a “strong-buy” rating in a research note on Friday, March 21st. StockNews.com downgraded Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Finally, Citigroup boosted their target price on Agnico Eagle Mines from $100.00 to $140.00 and gave the company a “buy” rating in a report on Monday, March 31st. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $108.00.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $99.45 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a 52-week low of $60.15 and a 52-week high of $111.04. The company has a 50-day simple moving average of $99.77 and a 200-day simple moving average of $88.66. The company has a market capitalization of $50.02 billion, a PE ratio of 26.31, a P/E/G ratio of 0.66 and a beta of 0.87.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released 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 return on equity of 10.45% and a net margin of 22.88%. Equities 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 company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio is currently 42.33%.

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.