Raymond James Financial Inc. Makes New Investment in Agnico Eagle Mines Limited (NYSE:AEM)

Raymond James Financial Inc. purchased 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 13F filing with the Securities and Exchange Commission. The firm purchased 671,307 shares of the mining company’s stock, valued at approximately $52,503,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Versant Capital Management Inc bought a new position in Agnico Eagle Mines during the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC increased its holdings in shares of Agnico Eagle Mines by 859.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock valued at $28,000 after acquiring an additional 318 shares during the last quarter. Decker Retirement Planning Inc. acquired a new position in shares of Agnico Eagle Mines during the 4th quarter valued at about $29,000. Fifth Third Bancorp raised its stake in shares of Agnico Eagle Mines by 176.9% in the 4th quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock valued at $32,000 after acquiring an additional 260 shares in the last quarter. Finally, Duncker Streett & Co. Inc. lifted its holdings in Agnico Eagle Mines by 37.3% in the 4th quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock worth $32,000 after purchasing an additional 112 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Raymond James set a $105.00 price target on shares of Agnico Eagle Mines and gave the company an “outperform” rating in a research report on Tuesday, February 4th. Scotiabank raised their target price on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. StockNews.com lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Jefferies Financial Group raised their price target on Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Tuesday, January 7th. Finally, TD Securities cut their price objective on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and an average price target of $95.78.

Agnico Eagle Mines Stock Up 3.6 %

NYSE AEM opened at $100.54 on Wednesday. Agnico Eagle Mines Limited has a twelve month low of $54.02 and a twelve month high of $101.81. The stock has a market cap of $50.56 billion, a PE ratio of 26.60, a PEG ratio of 0.66 and a beta of 1.00. The firm has a 50-day simple moving average of $92.15 and a 200 day simple moving average of $85.63. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data 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%. On average, research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 42.33%.

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.