Mufg Securities Canada LTD. Boosts Position in Agnico Eagle Mines Limited (NYSE:AEM)

Mufg Securities Canada LTD. grew its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 72.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 765,833 shares of the mining company’s stock after buying an additional 321,354 shares during the quarter. Agnico Eagle Mines accounts for approximately 2.2% of Mufg Securities Canada LTD.’s holdings, making the stock its 16th biggest holding. Mufg Securities Canada LTD. owned 0.15% of Agnico Eagle Mines worth $59,876,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AEM. Pathstone Holdings LLC lifted its holdings in shares of Agnico Eagle Mines by 1.4% in the third quarter. Pathstone Holdings LLC now owns 16,468 shares of the mining company’s stock valued at $1,327,000 after purchasing an additional 230 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Agnico Eagle Mines by 8.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 11,995 shares of the mining company’s stock valued at $966,000 after buying an additional 965 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Agnico Eagle Mines by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,136,854 shares of the mining company’s stock worth $91,681,000 after buying an additional 32,991 shares in the last quarter. Raymond James Trust N.A. raised its holdings in shares of Agnico Eagle Mines by 3.8% in the third quarter. Raymond James Trust N.A. now owns 5,579 shares of the mining company’s stock worth $449,000 after acquiring an additional 203 shares during the last quarter. Finally, Citigroup Inc. lifted its position in shares of Agnico Eagle Mines by 84.4% in the third quarter. Citigroup Inc. now owns 182,142 shares of the mining company’s stock valued at $14,689,000 after acquiring an additional 83,387 shares in the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AEM has been the subject of a number of recent research reports. StockNews.com cut Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. TD Securities cut their price objective on shares of 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. National Bank Financial upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Friday, March 21st. Stifel Canada upgraded Agnico Eagle Mines to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, Raymond James set a $105.00 price objective on Agnico Eagle Mines and gave the stock an “outperform” rating in a report on Tuesday, February 4th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $95.78.

Agnico Eagle Mines Stock Up 1.2 %

AEM opened at $105.45 on Wednesday. The company has a market cap of $53.04 billion, a PE ratio of 27.90, a price-to-earnings-growth ratio of 0.66 and a beta of 1.00. 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 Limited has a 1 year low of $56.05 and a 1 year high of $107.88. The firm has a 50 day moving average price of $96.63 and a 200 day moving average price of $87.32.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued 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 net margin of 22.88% and a return on equity of 10.45%. Sell-side analysts expect 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 paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.52%. Agnico Eagle Mines’s dividend payout ratio (DPR) is currently 42.33%.

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.