D.A. Davidson & CO. Acquires 1,440 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

D.A. Davidson & CO. boosted its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 11.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,676 shares of the mining company’s stock after purchasing 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 quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its stake in shares of Agnico Eagle Mines by 3.6% in the 4th quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company’s stock valued at $1,745,858,000 after acquiring an additional 778,919 shares in the last quarter. FMR LLC grew its holdings in Agnico Eagle Mines by 43.5% in the third quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock worth $1,213,311,000 after purchasing an additional 4,562,005 shares during the period. CIBC Asset Management Inc grew its holdings in Agnico Eagle Mines by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 6,383,024 shares of the mining company’s stock worth $499,956,000 after purchasing an additional 332,576 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Agnico Eagle Mines by 16.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,892,898 shares of the mining company’s stock valued at $474,660,000 after purchasing an additional 817,240 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings in shares of Agnico Eagle Mines by 7.4% during the third quarter. National Bank of Canada FI now owns 4,155,349 shares of the mining company’s stock valued at $334,749,000 after purchasing an additional 285,565 shares during the period. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM opened at $96.09 on Monday. Agnico Eagle Mines Limited has a 1-year low of $47.73 and a 1-year high of $101.45. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The stock has a market cap of $48.32 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 0.67 and a beta of 1.10. The stock’s fifty day simple moving average is $87.71 and its two-hundred day simple moving average is $84.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share 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%. As a group, analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.40 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.67%. Agnico Eagle Mines’s payout ratio is presently 42.33%.

Analyst Upgrades and Downgrades

AEM has been the subject of several research reports. Jefferies Financial Group raised their target price on Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Tuesday, January 7th. TD Securities reduced their price objective on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Raymond James set a $105.00 price objective on Agnico Eagle Mines and gave the company an “outperform” rating in a report on Tuesday, February 4th. Royal Bank of Canada increased their target price on Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Finally, Scotiabank boosted their price target 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. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $95.78.

About Agnico Eagle Mines

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.