Sprott Inc. Has $88.86 Million Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

Sprott Inc. raised its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2.2% in the 4th quarter, Holdings Channel reports. The firm owned 1,136,240 shares of the mining company’s stock after acquiring an additional 24,976 shares during the period. Agnico Eagle Mines accounts for approximately 5.3% of Sprott Inc.’s holdings, making the stock its 2nd largest position. Sprott Inc.’s holdings in Agnico Eagle Mines were worth $88,859,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Versant Capital Management Inc bought a new stake in shares of Agnico Eagle Mines during the 4th quarter valued at approximately $26,000. Decker Retirement Planning Inc. bought a new stake in shares of Agnico Eagle Mines during the fourth quarter worth $29,000. Fifth Third Bancorp increased its holdings in shares of Agnico Eagle Mines by 176.9% during the fourth quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock worth $32,000 after buying an additional 260 shares in the last quarter. Montag A & Associates Inc. lifted its stake in shares of Agnico Eagle Mines by 85.2% in the 4th quarter. Montag A & Associates Inc. now owns 500 shares of the mining company’s stock valued at $39,000 after acquiring an additional 230 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Agnico Eagle Mines during the 3rd quarter valued at $48,000. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $97.04 on Wednesday. The company has a market capitalization of $48.80 billion, a PE ratio of 25.67, a P/E/G ratio of 0.66 and a beta of 1.10. 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 Limited has a twelve month low of $47.73 and a twelve month high of $101.45. The firm has a fifty day simple moving average of $88.31 and a 200 day simple moving average of $84.39.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data 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%. On average, sell-side analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio (DPR) is 42.33%.

Analyst Upgrades and Downgrades

AEM has been the subject of a number of recent research reports. TD Securities lowered their target price on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Scotiabank raised their price objective on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 21st. Royal Bank of Canada boosted their target price on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Raymond James set a $105.00 price target on shares of Agnico Eagle Mines and gave the company an “outperform” rating in a research note on Tuesday, February 4th. Finally, StockNews.com cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.