Zurcher Kantonalbank Zurich Cantonalbank Has $17.97 Million Position in Agnico Eagle Mines Limited (NYSE:AEM)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 19.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 229,812 shares of the mining company’s stock after buying an additional 36,640 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Agnico Eagle Mines were worth $17,970,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. FMR LLC boosted its position 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 valued at $1,213,311,000 after purchasing an additional 4,562,005 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Agnico Eagle Mines by 16.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,892,898 shares of the mining company’s stock worth $474,660,000 after purchasing an additional 817,240 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Agnico Eagle Mines by 3.6% in the 4th quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company’s stock valued at $1,745,858,000 after buying an additional 778,919 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake 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 buying an additional 767,912 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Agnico Eagle Mines during the fourth quarter worth $52,503,000. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

AEM opened at $100.54 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.86 and a quick ratio of 0.86. The business has a fifty day simple moving average of $92.15 and a 200 day simple moving average of $85.63. Agnico Eagle Mines Limited has a 1 year low of $54.02 and a 1 year high of $101.81. The company has a market capitalization of $50.56 billion, a PE ratio of 26.60, a price-to-earnings-growth ratio of 0.66 and a beta of 1.00.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced 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%. Research analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, February 28th. This represents a $1.60 annualized dividend and a dividend yield of 1.59%. Agnico Eagle Mines’s dividend payout ratio is presently 42.33%.

Analyst Ratings Changes

A number of brokerages have commented on AEM. Scotiabank increased their price target on shares of 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. Jefferies Financial Group raised their target price 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 boosted their price target 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. StockNews.com cut Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Finally, Raymond James set a $105.00 target price on Agnico Eagle Mines and gave the stock an “outperform” rating in a report on Tuesday, February 4th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.78.

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.