Violich Capital Management Inc. Boosts Stake in Agnico Eagle Mines Limited $AEM

Violich Capital Management Inc. grew its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 26.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,273 shares of the mining company’s stock after buying an additional 11,243 shares during the period. Agnico Eagle Mines accounts for 1.0% of Violich Capital Management Inc.’s holdings, making the stock its 22nd biggest position. Violich Capital Management Inc.’s holdings in Agnico Eagle Mines were worth $9,031,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. TD Waterhouse Canada Inc. lifted its stake in Agnico Eagle Mines by 13.4% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 1,133,384 shares of the mining company’s stock valued at $192,951,000 after acquiring an additional 134,147 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in Agnico Eagle Mines by 42.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 65,404 shares of the mining company’s stock valued at $11,088,000 after acquiring an additional 19,647 shares during the period. Gunderson Capital Management Inc. lifted its stake in Agnico Eagle Mines by 187.6% during the 4th quarter. Gunderson Capital Management Inc. now owns 48,104 shares of the mining company’s stock valued at $8,155,000 after acquiring an additional 31,378 shares during the period. Campbell & CO Investment Adviser LLC lifted its stake in Agnico Eagle Mines by 1,560.8% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 48,677 shares of the mining company’s stock valued at $8,205,000 after acquiring an additional 45,746 shares during the period. Finally, TD Asset Management Inc lifted its stake in Agnico Eagle Mines by 1.5% during the 3rd quarter. TD Asset Management Inc now owns 9,500,193 shares of the mining company’s stock valued at $1,600,436,000 after acquiring an additional 143,645 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. TD boosted their target price on shares of Agnico Eagle Mines from $251.00 to $252.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Raymond James Financial reiterated an “outperform” rating and issued a $225.00 target price on shares of Agnico Eagle Mines in a research note on Wednesday, January 14th. Erste Group Bank cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Wall Street Zen cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 11th. Finally, Canadian Imperial Bank of Commerce decreased their target price on shares of Agnico Eagle Mines from $312.00 to $304.00 and set an “outperform” rating for the company in a research note on Tuesday, April 21st. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $238.18.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $187.77 on Friday. The firm has a market cap of $93.98 billion, a PE ratio of 17.65, a PEG ratio of 4.16 and a beta of 0.58. The firm has a fifty day moving average of $208.63 and a 200 day moving average of $192.16. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 3.15. Agnico Eagle Mines Limited has a one year low of $103.38 and a one year high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.21. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the prior year, the firm earned $1.53 earnings per share. The company’s revenue for the quarter was up 66.1% compared to the same quarter last year. As a group, research analysts predict that Agnico Eagle Mines Limited will post 13.07 EPS for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. Agnico Eagle Mines’s dividend payout ratio is presently 16.92%.

About Agnico Eagle Mines

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.