Wealthfront Advisers LLC Makes New $916,000 Investment in Agnico Eagle Mines Limited (NYSE:AEM)

Wealthfront Advisers LLC acquired a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 11,706 shares of the mining company’s stock, valued at approximately $916,000.

A number of other large investors have also recently bought and sold shares of the company. Van ECK Associates Corp grew its stake in Agnico Eagle Mines by 3.6% during the fourth quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company’s stock worth $1,745,858,000 after buying an additional 778,919 shares in the last quarter. FMR LLC grew its stake in 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 in the last quarter. CIBC Asset Management Inc grew its stake in 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Agnico Eagle Mines by 16.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,892,898 shares of the mining company’s stock valued at $474,660,000 after purchasing an additional 817,240 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of Agnico Eagle Mines by 7.4% in the 3rd quarter. National Bank of Canada FI now owns 4,155,349 shares of the mining company’s stock valued at $334,749,000 after purchasing an additional 285,565 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Up 0.9 %

Shares of NYSE AEM opened at $103.65 on Friday. The company has a market capitalization of $52.13 billion, a P/E ratio of 27.42, a price-to-earnings-growth ratio of 0.66 and a beta of 1.00. Agnico Eagle Mines Limited has a 52-week low of $54.02 and a 52-week high of $104.45. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86. The company’s 50 day moving average price is $93.47 and its 200-day moving average price is $86.03.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its 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%. Equities analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.54%. Agnico Eagle Mines’s payout ratio is presently 42.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AEM shares. Jefferies Financial Group raised their price target on shares of 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 lifted their target price on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Raymond James set a $105.00 target price on shares of Agnico Eagle Mines and gave the stock an “outperform” rating in a research report on Tuesday, February 4th. TD Securities cut their target price 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. Finally, Scotiabank lifted their target price on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 21st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and an average price target of $95.78.

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.