D.A. Davidson & CO. Raises Stake in Agnico Eagle Mines Limited (NYSE:AEM)

D.A. Davidson & CO. raised its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 11.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,676 shares of the mining company’s stock after buying an additional 1,440 shares during the quarter. D.A. Davidson & CO.’s holdings in Agnico Eagle Mines were worth $1,070,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its position in shares of Agnico Eagle Mines by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,136,854 shares of the mining company’s stock worth $91,681,000 after buying an additional 32,991 shares in the last quarter. Bridgewater Associates LP grew its position in Agnico Eagle Mines by 123.2% during the third quarter. Bridgewater Associates LP now owns 204,168 shares of the mining company’s stock worth $16,448,000 after buying an additional 112,712 shares in the last quarter. Caldwell Investment Management Ltd. increased its stake in Agnico Eagle Mines by 12.0% in the 4th quarter. Caldwell Investment Management Ltd. now owns 87,700 shares of the mining company’s stock worth $6,812,000 after acquiring an additional 9,400 shares during the last quarter. Forsta AP Fonden raised its holdings in shares of Agnico Eagle Mines by 8.9% in the 4th quarter. Forsta AP Fonden now owns 195,100 shares of the mining company’s stock valued at $15,256,000 after acquiring an additional 16,000 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Agnico Eagle Mines by 14.8% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 225,965 shares of the mining company’s stock valued at $18,223,000 after acquiring an additional 29,106 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AEM. TD Securities decreased their price objective on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. StockNews.com raised shares of Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a report on Monday, February 17th. Scotiabank raised their price objective on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 21st. Jefferies Financial Group upped their target price on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada raised their price target on Agnico Eagle Mines from $96.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of “Buy” and a consensus target price of $95.78.

Agnico Eagle Mines Price Performance

AEM stock opened at $96.09 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86. The firm has a market cap of $48.32 billion, a P/E ratio of 25.42, a P/E/G ratio of 0.67 and a beta of 1.10. The firm’s fifty day moving average is $87.71 and its 200 day moving average is $84.06. Agnico Eagle Mines Limited has a 52 week low of $47.73 and a 52 week high of $101.45.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, February 13th. The mining company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. Research analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The business 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 $0.40 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.60 dividend on an annualized basis and a yield of 1.67%. Agnico Eagle Mines’s dividend payout ratio (DPR) 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.