Pictet Asset Management Holding SA Grows Position in Agnico Eagle Mines Limited (NYSE:AEM)

Pictet Asset Management Holding SA grew its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 11.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 267,501 shares of the mining company’s stock after purchasing an additional 26,758 shares during the period. Pictet Asset Management Holding SA’s holdings in Agnico Eagle Mines were worth $20,917,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Versant Capital Management Inc acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC lifted its position in shares of Agnico Eagle Mines by 859.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock valued at $28,000 after acquiring an additional 318 shares during the period. Decker Retirement Planning Inc. purchased a new stake in shares of Agnico Eagle Mines during the 4th quarter worth approximately $29,000. Fifth Third Bancorp grew its holdings in shares of Agnico Eagle Mines by 176.9% in the 4th quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock worth $32,000 after acquiring an additional 260 shares during the period. Finally, Duncker Streett & Co. Inc. grew its holdings in shares of Agnico Eagle Mines by 37.3% in the 4th quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock worth $32,000 after acquiring an additional 112 shares during the period. 68.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on AEM shares. Raymond James set a $105.00 target price on Agnico Eagle Mines and gave the stock an “outperform” rating in a research report on Tuesday, February 4th. Royal Bank of Canada increased their price objective on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Stifel Canada upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Wednesday, March 19th. National Bank Financial upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Friday, March 21st. Finally, UBS Group cut shares of Agnico Eagle Mines from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $100.00 to $110.00 in a research note on Monday. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $104.11.

Agnico Eagle Mines Price Performance

AEM stock opened at $108.43 on Tuesday. The stock has a market capitalization of $54.54 billion, a price-to-earnings ratio of 28.68, a price-to-earnings-growth ratio of 0.66 and a beta of 1.00. 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 52-week low of $60.15 and a 52-week high of $110.36. The stock’s fifty day simple moving average is $98.43 and its 200-day simple moving average is $88.10.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted 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%. Equities research analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The business 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 1.48%. The ex-dividend date of this dividend was Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio is currently 42.33%.

Agnico Eagle Mines 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.