Allianz SE Makes New $145,000 Investment in Agnico Eagle Mines Limited (NYSE:AEM)

Allianz SE acquired a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,848 shares of the mining company’s stock, valued at approximately $145,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp raised its stake in Agnico Eagle Mines by 3.6% during the 4th 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 during the period. Vanguard Group Inc. increased its holdings in shares of Agnico Eagle Mines by 1.7% during the fourth 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 acquired a new position in shares of Agnico Eagle Mines during the fourth quarter worth approximately $573,446,000. CIBC Asset Management Inc lifted its holdings in shares of Agnico Eagle Mines by 5.5% in the 4th quarter. CIBC Asset Management Inc now owns 6,383,024 shares of the mining company’s stock worth $499,956,000 after purchasing an additional 332,576 shares in the last quarter. Finally, TD Asset Management Inc. grew its position in Agnico Eagle Mines by 2.8% in the 4th quarter. TD Asset Management Inc. now owns 6,324,291 shares of the mining company’s stock valued at $494,528,000 after purchasing an additional 174,366 shares during the period. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Up 1.0 %

AEM stock opened at $108.43 on Tuesday. The stock has a market cap of $54.54 billion, a P/E ratio of 28.68, a P/E/G ratio of 0.66 and a beta of 1.00. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The stock’s fifty day simple moving average is $98.43 and its two-hundred day simple moving average is $88.10. Agnico Eagle Mines Limited has a 1-year low of $60.15 and a 1-year high of $110.36.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued 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 return on equity of 10.45% and a net margin of 22.88%. Analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend was Friday, February 28th. Agnico Eagle Mines’s payout ratio is 42.33%.

Analyst Upgrades and Downgrades

AEM has been the topic of a number of recent research reports. TD Securities dropped their price objective on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. UBS Group cut shares of Agnico Eagle Mines from a “buy” rating to a “neutral” rating and raised their price target for the company from $100.00 to $110.00 in a research report on Monday. Jefferies Financial Group boosted their price objective on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Tuesday, January 7th. Scotiabank raised their target price on Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 21st. Finally, Stifel Canada upgraded Agnico Eagle Mines to a “strong-buy” rating in a report on Wednesday, March 19th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Agnico Eagle Mines has an average rating of “Buy” and a consensus price target of $104.11.

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.