PFG Investments LLC Grows Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

PFG Investments LLC increased its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 13.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,174 shares of the mining company’s stock after acquiring an additional 1,197 shares during the period. PFG Investments LLC’s holdings in Agnico Eagle Mines were worth $558,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quilter Plc purchased a new position in shares of Agnico Eagle Mines during the first quarter worth about $204,981,000. Coppell Advisory Solutions Corp. purchased a new position in shares of Agnico Eagle Mines during the fourth quarter worth about $26,000. Bruce G. Allen Investments LLC purchased a new stake in Agnico Eagle Mines in the 4th quarter valued at approximately $33,000. CVA Family Office LLC purchased a new stake in Agnico Eagle Mines in the 4th quarter valued at approximately $36,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Agnico Eagle Mines in the 3rd quarter valued at approximately $34,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

AEM stock opened at $57.85 on Thursday. 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. The company has a market cap of $28.81 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 24.34 and a beta of 1.03. The firm has a 50 day moving average of $50.83 and a 200-day moving average of $50.31.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data 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. Agnico Eagle Mines had a return on equity of 5.54% and a net margin of 29.29%. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the firm posted $0.41 EPS. The company’s quarterly revenue was up 26.9% compared to the same quarter last year. As a group, equities analysts expect that Agnico Eagle Mines Limited will post 2.3 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.40 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.60 annualized dividend and a dividend yield of 2.77%. Agnico Eagle Mines’s dividend payout ratio is currently 38.93%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Wednesday, January 3rd. TD Securities lowered their price objective on Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Jefferies Financial Group assumed coverage on Agnico Eagle Mines in a report on Thursday, February 29th. They issued a “hold” rating and a $54.00 price objective on the stock. Raymond James lifted their price objective on Agnico Eagle Mines from $66.00 to $71.00 and gave the company an “outperform” rating in a report on Friday, January 12th. Finally, CIBC reduced their price target 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. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $63.71.

About Agnico Eagle Mines

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.