Navellier & Associates Inc. Buys 6,183 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Navellier & Associates Inc. boosted its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 10.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 63,855 shares of the mining company’s stock after acquiring an additional 6,183 shares during the period. Navellier & Associates Inc.’s holdings in Agnico Eagle Mines were worth $4,994,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Leuthold Group LLC bought a new stake in Agnico Eagle Mines in the fourth quarter valued at approximately $3,930,000. Bradley Foster & Sargent Inc. CT boosted its holdings in Agnico Eagle Mines by 2.0% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 1,172,033 shares of the mining company’s stock valued at $91,665,000 after acquiring an additional 22,980 shares during the last quarter. Cromwell Holdings LLC bought a new stake in Agnico Eagle Mines in the fourth quarter valued at approximately $52,000. Citizens National Bank Trust Department boosted its holdings in Agnico Eagle Mines by 1.7% in the fourth quarter. Citizens National Bank Trust Department now owns 23,277 shares of the mining company’s stock valued at $1,820,000 after acquiring an additional 383 shares during the last quarter. Finally, Private Advisor Group LLC boosted its holdings in Agnico Eagle Mines by 6.1% in the fourth quarter. Private Advisor Group LLC now owns 9,626 shares of the mining company’s stock valued at $753,000 after acquiring an additional 550 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM opened at $96.09 on Friday. 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 stock’s 50 day moving average is $87.71 and its 200-day moving average is $83.92. The firm has a market capitalization of $48.32 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 0.67 and a beta of 1.10.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its 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%. Sell-side analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Friday, February 28th. Agnico Eagle Mines’s payout ratio is 42.33%.

Analysts Set New Price Targets

A number of research firms have issued reports on AEM. StockNews.com upgraded Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a report on Monday, February 17th. Jefferies Financial Group increased their price target on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Tuesday, January 7th. Royal Bank of Canada increased their price target on Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Scotiabank increased their price target on Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 21st. Finally, TD Securities cut their price target on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $94.63.

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.