Generali Asset Management SPA SGR Purchases New Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Generali Asset Management SPA SGR purchased a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 535,957 shares of the mining company’s stock, valued at approximately $46,377,000. Agnico Eagle Mines accounts for 1.2% of Generali Asset Management SPA SGR’s portfolio, making the stock its 16th largest position. Generali Asset Management SPA SGR owned 0.11% of Agnico Eagle Mines as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in AEM. Evoke Wealth LLC increased its position in Agnico Eagle Mines by 12.8% during the 4th quarter. Evoke Wealth LLC now owns 20,455 shares of the mining company’s stock worth $1,600,000 after buying an additional 2,324 shares during the period. Cadence Wealth Management LLC grew its holdings in shares of Agnico Eagle Mines by 2.4% during the 4th quarter. Cadence Wealth Management LLC now owns 12,880 shares of the mining company’s stock worth $1,007,000 after purchasing an additional 307 shares in the last quarter. Signaturefd LLC boosted its stake in Agnico Eagle Mines by 3.2% in the fourth quarter. Signaturefd LLC now owns 9,519 shares of the mining company’s stock valued at $744,000 after buying an additional 292 shares in the last quarter. IMG Wealth Management Inc. bought a new position in Agnico Eagle Mines in the fourth quarter valued at about $78,000. Finally, Corient Private Wealth LLC raised its position in shares of Agnico Eagle Mines by 117.8% during the fourth quarter. Corient Private Wealth LLC now owns 23,623 shares of the mining company’s stock worth $1,848,000 after acquiring an additional 12,777 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on AEM. Scotiabank raised their price objective on Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. Jefferies Financial Group boosted their price objective 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. Raymond James set a $105.00 price objective on Agnico Eagle Mines and gave the company an “outperform” rating in a research note on Tuesday, February 4th. TD Securities decreased 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, StockNews.com cut Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $95.78.

Agnico Eagle Mines Stock Up 1.8 %

Shares of NYSE:AEM opened at $105.46 on Tuesday. Agnico Eagle Mines Limited has a 52-week low of $54.02 and a 52-week high of $106.76. The stock has a market cap of $53.04 billion, a P/E ratio of 27.90, a price-to-earnings-growth ratio of 0.66 and a beta of 1.00. The business’s 50 day moving average is $93.99 and its 200 day moving average is $86.23. 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 (NYSE:AEM) (TSE:AEM) last posted 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 net margin of 22.88% and a return on equity of 10.45%. Sell-side analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend was Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio (DPR) is 42.33%.

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.