Raymond James Financial Inc. Invests $52.50 Million in Agnico Eagle Mines Limited (NYSE:AEM)

Raymond James Financial Inc. bought a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 671,307 shares of the mining company’s stock, valued at approximately $52,503,000.

Several other institutional investors and hedge funds have also bought and sold shares of AEM. Jones Financial Companies Lllp increased its stake in Agnico Eagle Mines by 78.3% in the fourth quarter. Jones Financial Companies Lllp now owns 3,259 shares of the mining company’s stock valued at $255,000 after purchasing an additional 1,431 shares in the last quarter. Caldwell Investment Management Ltd. increased its position 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 valued at $6,812,000 after buying an additional 9,400 shares in the last quarter. Forsta AP Fonden raised its stake in Agnico Eagle Mines by 8.9% during the 4th quarter. Forsta AP Fonden now owns 195,100 shares of the mining company’s stock worth $15,256,000 after buying an additional 16,000 shares during the period. Geode Capital Management LLC boosted its holdings in Agnico Eagle Mines by 8.6% in the third quarter. Geode Capital Management LLC now owns 2,256,714 shares of the mining company’s stock worth $183,491,000 after acquiring an additional 178,999 shares in the last quarter. Finally, Resonant Capital Advisors LLC acquired a new stake in Agnico Eagle Mines in the fourth quarter valued at approximately $208,000. 68.34% of the stock is owned by institutional investors.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $118.48 on Tuesday. The stock has a 50 day moving average of $102.03 and a 200 day moving average of $90.08. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a 12 month low of $60.15 and a 12 month high of $119.25. The company has a market capitalization of $59.63 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 0.66 and a beta of 0.87.

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

Agnico Eagle Mines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio is currently 42.33%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AEM shares. StockNews.com downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Citigroup boosted their target price on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, March 31st. Jefferies Financial Group raised their price target on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Tuesday, January 7th. UBS Group lifted their price target on Agnico Eagle Mines from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday. Finally, National Bank Financial raised Agnico Eagle Mines to a “strong-buy” rating in a research note on Friday, March 21st. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $114.00.

Agnico Eagle Mines Company 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.