Cinctive Capital Management LP Buys New Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Cinctive Capital Management LP purchased a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 116,547 shares of the mining company’s stock, valued at approximately $9,115,000.

A number of other large investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised 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 period. Vanguard Group Inc. grew its position in Agnico Eagle Mines by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 19,865,285 shares of the mining company’s stock valued at $1,554,180,000 after acquiring an additional 331,087 shares in the last quarter. Norges Bank purchased a new position in shares of Agnico Eagle Mines in the fourth quarter valued at approximately $573,446,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Agnico Eagle Mines by 81.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company’s stock valued at $551,339,000 after purchasing an additional 3,155,927 shares in the last quarter. Finally, CIBC Asset Management Inc increased its stake in Agnico Eagle Mines by 5.5% during the 4th 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 during the period. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AEM shares. National Bank Financial upgraded Agnico Eagle Mines to a “strong-buy” rating in a report on Friday, March 21st. Jefferies Financial Group increased 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. Citigroup boosted their price objective on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday. Raymond James set a $105.00 price target on Agnico Eagle Mines and gave the stock an “outperform” rating in a research note on Tuesday, February 4th. Finally, UBS Group lowered shares of Agnico Eagle Mines from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $100.00 to $110.00 in a research note on Monday. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $104.11.

Agnico Eagle Mines Stock Down 0.2 %

Shares of NYSE:AEM opened at $108.14 on Wednesday. Agnico Eagle Mines Limited has a fifty-two week low of $60.15 and a fifty-two week high of $110.36. The firm’s 50-day simple moving average is $98.82 and its 200-day simple moving average is $88.27. The company has a market cap of $54.40 billion, a price-to-earnings ratio of 28.61, a PEG ratio of 0.66 and a beta of 0.87. 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 (NYSE:AEM) (TSE:AEM) last posted 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 net margin of 22.88% and a return on equity of 10.45%. As a group, equities research analysts predict 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 declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, February 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.48%. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 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.