Jennison Associates LLC Buys 45,889 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Jennison Associates LLC grew its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 9.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 533,728 shares of the mining company’s stock after buying an additional 45,889 shares during the period. Jennison Associates LLC owned 0.11% of Agnico Eagle Mines worth $29,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blair William & Co. IL raised its position in shares of Agnico Eagle Mines by 5.9% during the third quarter. Blair William & Co. IL now owns 23,718 shares of the mining company’s stock valued at $1,078,000 after buying an additional 1,313 shares during the last quarter. Raymond James & Associates raised its position in shares of Agnico Eagle Mines by 15.5% during the fourth quarter. Raymond James & Associates now owns 364,440 shares of the mining company’s stock valued at $19,990,000 after buying an additional 48,782 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Agnico Eagle Mines by 5.7% during the third quarter. Wellington Management Group LLP now owns 632,403 shares of the mining company’s stock valued at $28,752,000 after buying an additional 34,072 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in shares of Agnico Eagle Mines during the fourth quarter valued at approximately $41,610,000. Finally, Sprott Inc. increased its position in Agnico Eagle Mines by 4.1% in the third quarter. Sprott Inc. now owns 1,412,300 shares of the mining company’s stock worth $65,249,000 after purchasing an additional 55,032 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AEM. Raymond James boosted their price target on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “outperform” rating in a research report on Friday, January 12th. National Bank Financial reiterated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. TD Securities lowered their target price on shares of Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. Jefferies Financial Group boosted their target price on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a research note on Monday. Finally, CIBC lowered their target price on shares of 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 investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $64.14.

Agnico Eagle Mines Stock Up 1.2 %

NYSE:AEM opened at $63.70 on Thursday. Agnico Eagle Mines Limited has a 1-year low of $43.22 and a 1-year high of $64.19. The company has a 50-day moving average of $56.18 and a 200 day moving average of $52.37. The firm has a market cap of $31.76 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 0.93 and a beta of 1.06. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.09 and a quick ratio of 0.74.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Friday, February 16th. The mining company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.09. Agnico Eagle Mines had a net margin of 29.29% and a return on equity of 5.54%. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.72 billion. The firm’s revenue for the quarter was up 26.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 earnings per share. As a group, research analysts anticipate that Agnico Eagle Mines Limited will post 2.52 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.51%. The ex-dividend date was Thursday, February 29th. Agnico Eagle Mines’s payout ratio is 38.93%.

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.