Stack Financial Management Inc Has $20.98 Million Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Stack Financial Management Inc lessened its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 382,516 shares of the mining company’s stock after selling 8,117 shares during the quarter. Agnico Eagle Mines comprises approximately 2.4% of Stack Financial Management Inc’s portfolio, making the stock its 18th largest holding. Stack Financial Management Inc’s holdings in Agnico Eagle Mines were worth $20,981,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Agnico Eagle Mines by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 17,224,538 shares of the mining company’s stock worth $782,855,000 after purchasing an additional 278,647 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Agnico Eagle Mines by 1.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,794,968 shares of the mining company’s stock valued at $626,981,000 after purchasing an additional 152,166 shares during the period. Mackenzie Financial Corp boosted its stake in Agnico Eagle Mines by 0.4% in the 4th quarter. Mackenzie Financial Corp now owns 9,811,207 shares of the mining company’s stock valued at $538,193,000 after purchasing an additional 41,068 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Agnico Eagle Mines by 8.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,380,993 shares of the mining company’s stock valued at $383,555,000 after purchasing an additional 665,356 shares during the period. Finally, Flossbach Von Storch AG boosted its stake in Agnico Eagle Mines by 0.4% in the 3rd quarter. Flossbach Von Storch AG now owns 5,666,972 shares of the mining company’s stock valued at $257,564,000 after purchasing an additional 21,766 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Raymond James upped their target price on Agnico Eagle Mines from $66.00 to $71.00 and gave the company an “outperform” rating in a research report on Friday, January 12th. Jefferies Financial Group increased their target price on Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a research report on Monday. TD Securities lowered their target price on Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. National Bank Financial reissued an “outperform overweight” rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. Finally, CIBC reduced their price objective on Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and a consensus price target of $64.14.

Agnico Eagle Mines Stock Up 2.5 %

Shares of NYSE:AEM traded up $1.65 during mid-day trading on Friday, hitting $66.59. 2,983,942 shares of the company traded hands, compared to its average volume of 3,298,388. The stock has a market cap of $33.20 billion, a P/E ratio of 16.37, a P/E/G ratio of 0.90 and a beta of 1.06. The company has a current ratio of 2.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.10. Agnico Eagle Mines Limited has a 12-month low of $43.22 and a 12-month high of $67.80. The stock has a 50-day moving average price of $56.54 and a two-hundred day moving average price of $52.46.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.16. Agnico Eagle Mines had a return on equity of 5.54% and a net margin of 29.29%. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the previous year, the firm earned $0.57 earnings per share. Agnico Eagle Mines’s quarterly revenue was up 21.2% on a year-over-year basis. On average, equities research analysts forecast that Agnico Eagle Mines Limited will post 2.66 earnings per share for the current year.

Agnico Eagle Mines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.40 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.60 annualized dividend and a yield of 2.40%. Agnico Eagle Mines’s dividend payout ratio is currently 38.93%.

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.