Avalon Capital Management Raises Position in Agnico Eagle Mines Limited (NYSE:AEM)

Avalon Capital Management boosted its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 57.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,051 shares of the mining company’s stock after buying an additional 3,680 shares during the quarter. Avalon Capital Management’s holdings in Agnico Eagle Mines were worth $786,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Bank of New York Mellon Corp lifted its holdings in Agnico Eagle Mines by 7.4% in the fourth quarter. Bank of New York Mellon Corp now owns 479,600 shares of the mining company’s stock worth $37,510,000 after buying an additional 32,961 shares during the period. IFP Advisors Inc increased its stake in Agnico Eagle Mines by 6.0% during the 4th quarter. IFP Advisors Inc now owns 4,709 shares of the mining company’s stock valued at $368,000 after purchasing an additional 266 shares in the last quarter. Y Intercept Hong Kong Ltd increased its stake in Agnico Eagle Mines by 86.6% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 8,292 shares of the mining company’s stock valued at $649,000 after purchasing an additional 3,848 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in Agnico Eagle Mines in the fourth quarter worth about $602,000. Finally, Pekin Hardy Strauss Inc. lifted its stake in shares of Agnico Eagle Mines by 1.8% in the fourth quarter. Pekin Hardy Strauss Inc. now owns 84,882 shares of the mining company’s stock worth $6,639,000 after buying an additional 1,472 shares in the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Performance

Shares of NYSE AEM opened at $97.47 on Tuesday. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a 12-month low of $47.73 and a 12-month high of $101.45. The firm has a market capitalization of $49.02 billion, a price-to-earnings ratio of 25.79, a price-to-earnings-growth ratio of 0.66 and a beta of 1.10. The firm has a 50 day moving average of $88.01 and a 200 day moving average of $84.23.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, February 13th. The mining company reported $1.26 EPS 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%. On average, research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.64%. The ex-dividend date is Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio is currently 42.33%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on AEM shares. Scotiabank boosted their price objective on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 21st. StockNews.com upgraded Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 17th. Jefferies Financial Group increased their target price on Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Tuesday, January 7th. TD Securities cut their target price on 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. Finally, Royal Bank of Canada increased their target price on Agnico Eagle Mines from $96.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of “Buy” and an average price target of $95.78.

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.