Connor Clark & Lunn Investment Management Ltd. Acquires 154,003 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Connor Clark & Lunn Investment Management Ltd. increased its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,046,901 shares of the mining company’s stock after buying an additional 154,003 shares during the quarter. Agnico Eagle Mines comprises approximately 2.1% of Connor Clark & Lunn Investment Management Ltd.’s holdings, making the stock its 6th largest position. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.20% of Agnico Eagle Mines worth $472,475,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. FMR LLC lifted its stake in shares of Agnico Eagle Mines by 43.5% in the third quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock worth $1,213,311,000 after buying an additional 4,562,005 shares during the last quarter. AGF Management Ltd. lifted its holdings in shares of Agnico Eagle Mines by 184.6% during the fourth quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company’s stock worth $109,205,000 after buying an additional 905,328 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Agnico Eagle Mines by 3.6% in the fourth quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company’s stock valued at $1,745,858,000 after acquiring an additional 778,919 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Agnico Eagle Mines by 262.5% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,060,402 shares of the mining company’s stock worth $85,413,000 after acquiring an additional 767,912 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Agnico Eagle Mines in the fourth quarter valued at about $52,503,000. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Up 3.6 %

AEM stock opened at $100.54 on Wednesday. Agnico Eagle Mines Limited has a 1-year low of $54.02 and a 1-year high of $101.81. The stock’s fifty day simple moving average is $92.15 and its two-hundred day simple moving average is $85.63. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The stock has a market cap of $50.56 billion, a P/E ratio of 26.60, a P/E/G ratio of 0.66 and a beta of 1.00.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced 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 net margin of 22.88% and a return on equity of 10.45%. Analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 42.33%.

Analysts Set New Price Targets

Several research analysts recently weighed in on AEM shares. StockNews.com lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. TD Securities cut their target price on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Jefferies Financial Group boosted 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. Scotiabank upped their price target on shares of 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, Royal Bank of Canada boosted their target price on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and a consensus target price of $95.78.

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.