Navellier & Associates Inc. Acquires 6,183 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Navellier & Associates Inc. grew its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 10.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 63,855 shares of the mining company’s stock after acquiring an additional 6,183 shares during the quarter. Navellier & Associates Inc.’s holdings in Agnico Eagle Mines were worth $4,994,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AEM. Versant Capital Management Inc bought a new stake in shares of Agnico Eagle Mines in the fourth quarter valued at about $26,000. Decker Retirement Planning Inc. acquired a new position in Agnico Eagle Mines in the fourth quarter valued at about $29,000. Fifth Third Bancorp raised its stake 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 purchasing an additional 260 shares in the last quarter. Montag A & Associates Inc. raised its stake in Agnico Eagle Mines by 85.2% in the fourth quarter. Montag A & Associates Inc. now owns 500 shares of the mining company’s stock valued at $39,000 after purchasing an additional 230 shares in the last quarter. Finally, Hobbs Group Advisors LLC acquired a new position in Agnico Eagle Mines in the third quarter valued at about $48,000. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Down 2.0 %

Shares of NYSE AEM opened at $96.09 on Friday. The stock has a 50-day moving average price of $87.71 and a two-hundred day moving average price of $83.92. Agnico Eagle Mines Limited has a 12 month low of $47.73 and a 12 month high of $101.45. 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 company has a market cap of $48.32 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 0.67 and a beta of 1.10.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, February 13th. The mining company reported $1.26 earnings per share (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%. As a group, analysts forecast 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 disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio is currently 42.33%.

Analysts Set New Price Targets

AEM has been the subject of a number of analyst reports. Scotiabank boosted their price target 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. StockNews.com raised Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 17th. Jefferies Financial Group boosted their price target on Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Tuesday, January 7th. Royal Bank of Canada boosted their price target on Agnico Eagle Mines from $96.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Finally, TD Securities dropped their price target on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $94.63.

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.