HighTower Advisors LLC Has $2.50 Million Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

HighTower Advisors LLC cut its position in Agnico Eagle Mines Limited (NYSE:AEM – Get Rating) (TSE:AEM) by 29.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,155 shares of the mining company’s stock after selling 20,175 shares during the period. HighTower Advisors LLC’s holdings in Agnico Eagle Mines were worth $2,503,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in AEM. Bank of New York Mellon Corp grew its stake in shares of Agnico Eagle Mines by 86.4% in the 1st quarter. Bank of New York Mellon Corp now owns 540,450 shares of the mining company’s stock valued at $33,097,000 after buying an additional 250,445 shares during the period. US Bancorp DE grew its stake in shares of Agnico Eagle Mines by 108.6% in the 1st quarter. US Bancorp DE now owns 4,420 shares of the mining company’s stock valued at $270,000 after buying an additional 2,301 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Agnico Eagle Mines by 37.6% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,795 shares of the mining company’s stock valued at $171,000 after buying an additional 764 shares during the period. Natixis Advisors L.P. acquired a new stake in shares of Agnico Eagle Mines in the 1st quarter valued at about $678,000. Finally, BlackRock Inc. grew its stake in shares of Agnico Eagle Mines by 44.0% in the 1st quarter. BlackRock Inc. now owns 364,215 shares of the mining company’s stock valued at $22,304,000 after buying an additional 111,208 shares during the period. 58.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. TheStreet upgraded Agnico Eagle Mines from a “c+” rating to a “b-” rating in a research note on Wednesday, January 25th. Scotiabank assumed coverage on Agnico Eagle Mines in a research note on Monday, April 3rd. They set an “outperform” rating for the company. Barclays lifted their price target on Agnico Eagle Mines from $62.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, April 21st. National Bank Financial cut their price target on Agnico Eagle Mines from C$89.00 to C$88.00 in a research note on Tuesday, February 14th. Finally, TD Securities cut their price target on Agnico Eagle Mines from $68.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, February 17th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $70.63.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $53.47 on Tuesday. Agnico Eagle Mines Limited has a twelve month low of $36.69 and a twelve month high of $61.15. The stock’s 50 day moving average price is $55.03 and its 200-day moving average price is $52.32. The company has a market capitalization of $26.43 billion, a PE ratio of 10.53, a PEG ratio of 24.96 and a beta of 0.81. The company has a quick ratio of 1.07, a current ratio of 2.32 and a debt-to-equity ratio of 0.12.

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be paid a $0.40 dividend. The ex-dividend date is Wednesday, May 31st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.99%. Agnico Eagle Mines’s payout ratio is presently 31.50%.

Agnico Eagle Mines Profile

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Agnico Eagle Mines Ltd. engages in the exploration and production of gold. It operates through the following segments: Northern Business, Southern Business, and Exploration. The Northern Business segment comprises of LaRonde mine, LaRonde Zone 5 mine, Lapa mine, Goldex mine, Meadowbank mine including the Amaruq deposit, Canadian Malartic joint operation, Meliadine project and Kittila mine.