Corient Private Wealth LLC Increases Position in Agnico Eagle Mines Limited (NYSE:AEM)

Corient Private Wealth LLC raised its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 117.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,623 shares of the mining company’s stock after buying an additional 12,777 shares during the period. Corient Private Wealth LLC’s holdings in Agnico Eagle Mines were worth $1,848,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of AEM. FMR LLC boosted its holdings in Agnico Eagle Mines by 43.5% during the 3rd quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock valued at $1,213,311,000 after acquiring an additional 4,562,005 shares during the period. AGF Management Ltd. boosted its stake in shares of Agnico Eagle Mines by 184.6% in the fourth quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company’s stock valued at $109,205,000 after purchasing an additional 905,328 shares during the period. Van ECK Associates Corp boosted its stake in shares of Agnico Eagle Mines by 3.6% in the fourth quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company’s stock valued at $1,745,858,000 after purchasing an additional 778,919 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Agnico Eagle Mines by 262.5% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,060,402 shares of the mining company’s stock valued at $85,413,000 after purchasing an additional 767,912 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Agnico Eagle Mines during the 4th quarter worth approximately $52,503,000. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $104.18 on Tuesday. The stock’s 50-day moving average price is $96.20 and its 200 day moving average price is $87.12. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $52.40 billion, a PE ratio of 27.56, 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 $55.98 and a 52-week high of $107.88.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released 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 return on equity of 10.45% and a net margin of 22.88%. As a group, equities research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.54%. The ex-dividend date was Friday, February 28th. Agnico Eagle Mines’s payout ratio is 42.33%.

Wall Street Analysts Forecast Growth

AEM has been the subject of several research reports. Raymond James set a $105.00 price target on shares of Agnico Eagle Mines and gave the stock an “outperform” rating in a research note on Tuesday, February 4th. Scotiabank boosted their target price on Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 21st. StockNews.com lowered Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Royal Bank of Canada boosted their price objective on Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Finally, Stifel Canada raised shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Wednesday, March 19th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Agnico Eagle Mines has an average rating of “Buy” and an average target price of $95.78.

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.