Cinctive Capital Management LP Makes New Investment in Agnico Eagle Mines Limited (NYSE:AEM)

Cinctive Capital Management LP bought a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 116,547 shares of the mining company’s stock, valued at approximately $9,115,000.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Agnico Eagle Mines during the fourth quarter worth about $573,446,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Agnico Eagle Mines by 81.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company’s stock worth $551,339,000 after purchasing an additional 3,155,927 shares in the last quarter. AGF Management Ltd. increased its stake in shares of Agnico Eagle Mines by 184.6% during the 4th quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company’s stock worth $109,205,000 after purchasing an additional 905,328 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Agnico Eagle Mines by 3.6% during the 4th quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company’s stock worth $1,745,858,000 after purchasing an additional 778,919 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Agnico Eagle Mines by 33.2% in the 4th quarter. Geode Capital Management LLC now owns 3,006,646 shares of the mining company’s stock valued at $239,844,000 after buying an additional 749,932 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Jefferies Financial Group raised their price target on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research report on Tuesday, January 7th. UBS Group downgraded shares of Agnico Eagle Mines from a “buy” rating to a “neutral” rating and boosted their target price for the company from $100.00 to $110.00 in a research note on Monday. National Bank Financial upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Friday, March 21st. StockNews.com downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Finally, TD Securities decreased their target price on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $104.11.

Agnico Eagle Mines Price Performance

AEM stock opened at $108.14 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86. Agnico Eagle Mines Limited has a 1 year low of $60.15 and a 1 year high of $110.36. The stock has a 50-day simple moving average of $98.82 and a 200-day simple moving average of $88.27. The firm has a market cap of $54.40 billion, a P/E ratio of 28.61, a price-to-earnings-growth ratio of 0.66 and a beta of 0.87.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 EPS for the quarter, missing the consensus estimate 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, equities analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.48%. The ex-dividend date was Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio is currently 42.33%.

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.