Royal Fund Management LLC Boosts Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Royal Fund Management LLC grew its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,951 shares of the mining company’s stock after acquiring an additional 783 shares during the quarter. Royal Fund Management LLC’s holdings in Agnico Eagle Mines were worth $1,369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in AEM. Van ECK Associates Corp increased its stake in Agnico Eagle Mines by 9.5% in the 4th quarter. Van ECK Associates Corp now owns 23,059,010 shares of the mining company’s stock worth $1,264,791,000 after acquiring an additional 1,995,127 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in Agnico Eagle Mines in the 4th quarter worth approximately $41,610,000. The Manufacturers Life Insurance Company increased its stake in Agnico Eagle Mines by 8.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,380,993 shares of the mining company’s stock worth $383,555,000 after acquiring an additional 665,356 shares during the last quarter. Alberta Investment Management Corp increased its stake in Agnico Eagle Mines by 17.2% in the 3rd quarter. Alberta Investment Management Corp now owns 1,957,250 shares of the mining company’s stock worth $89,350,000 after acquiring an additional 286,600 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Agnico Eagle Mines by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 17,224,538 shares of the mining company’s stock worth $782,855,000 after acquiring an additional 278,647 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AEM. TD Securities lifted their price objective on Agnico Eagle Mines from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday. Citigroup boosted their target price on Agnico Eagle Mines from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday. Raymond James boosted their target price on Agnico Eagle Mines from $66.00 to $71.00 and gave the company an “outperform” rating in a research report on Friday, January 12th. Jefferies Financial Group boosted their target price on Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a research report on Monday, April 22nd. Finally, National Bank Financial reissued an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $69.63.

Agnico Eagle Mines Trading Down 0.1 %

Agnico Eagle Mines stock traded down $0.08 during mid-day trading on Friday, hitting $65.04. The company’s stock had a trading volume of 1,909,377 shares, compared to its average volume of 3,578,693. The company has a 50 day moving average of $58.51 and a 200-day moving average of $53.18. The stock has a market cap of $32.43 billion, a PE ratio of 68.48, a P/E/G ratio of 0.76 and a beta of 1.04. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 2.21. Agnico Eagle Mines Limited has a one year low of $43.22 and a one year high of $67.80.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, April 25th. The mining company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.60 by $0.16. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.78 billion. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. Agnico Eagle Mines’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.57 EPS. On average, research analysts anticipate that Agnico Eagle Mines Limited will post 3.23 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Friday, May 31st. Agnico Eagle Mines’s dividend payout ratio is 168.42%.

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.