Raymond James Trust N.A. Invests $207,000 in Agnico Eagle Mines Limited (NYSE:AEM)

Raymond James Trust N.A. acquired a new position in Agnico Eagle Mines Limited (NYSE:AEMFree Report) (TSE:AEM) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,781 shares of the mining company’s stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Aries Wealth Management grew its stake in Agnico Eagle Mines by 4.0% during the fourth quarter. Aries Wealth Management now owns 11,616 shares of the mining company’s stock valued at $637,000 after acquiring an additional 450 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in Agnico Eagle Mines during the fourth quarter valued at $33,000. Foundation Resource Management Inc. grew its stake in Agnico Eagle Mines by 3.3% during the fourth quarter. Foundation Resource Management Inc. now owns 307,524 shares of the mining company’s stock valued at $16,868,000 after acquiring an additional 9,793 shares in the last quarter. Anchor Investment Management LLC purchased a new position in Agnico Eagle Mines during the fourth quarter valued at $55,000. Finally, Vanguard Group Inc. grew its stake in Agnico Eagle Mines by 1.6% during the third quarter. Vanguard Group Inc. now owns 17,224,538 shares of the mining company’s stock valued at $782,855,000 after acquiring an additional 278,647 shares in the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AEM has been the subject of several research analyst reports. Raymond James raised their target price on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the company an “outperform” rating in a research note on Friday, January 12th. CIBC lowered their price objective on shares of Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. National Bank Financial reiterated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Wednesday, January 3rd. Jefferies Financial Group began coverage on shares of Agnico Eagle Mines in a research report on Thursday, February 29th. They set a “hold” rating and a $54.00 price objective for the company. Finally, TD Securities lowered their price objective on shares of Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $63.71.

View Our Latest Stock Report on AEM

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock opened at $56.05 on Wednesday. The firm has a 50-day moving average price of $50.66 and a 200-day moving average price of $50.26. The firm has a market capitalization of $27.91 billion, a PE ratio of 13.64, a price-to-earnings-growth ratio of 24.18 and a beta of 1.03. The company has a current ratio of 2.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.10. Agnico Eagle Mines Limited has a 12-month low of $43.22 and a 12-month high of $61.15.

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) last released its earnings results on Friday, February 16th. The mining company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.09. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.72 billion. Agnico Eagle Mines had a net margin of 29.29% and a return on equity of 5.54%. The business’s revenue was up 26.9% on a year-over-year basis. During the same quarter last year, the business earned $0.41 EPS. As a group, equities research analysts forecast that Agnico Eagle Mines Limited will post 2.3 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend was Thursday, February 29th. Agnico Eagle Mines’s dividend payout ratio is presently 38.93%.

Agnico Eagle Mines Profile

(Free Report)

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. 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.

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Institutional Ownership by Quarter for Agnico Eagle Mines (NYSE:AEM)

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