LPL Financial LLC Has $5.50 Million Stake in Agnico Eagle Mines Limited (NYSE:AEM)

LPL Financial LLC boosted its position in Agnico Eagle Mines Limited (NYSE:AEM – Get Rating) (TSE:AEM) by 26.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 105,859 shares of the mining company’s stock after buying an additional 21,977 shares during the quarter. LPL Financial LLC’s holdings in Agnico Eagle Mines were worth $5,504,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in Agnico Eagle Mines by 86.4% during the first quarter. Bank of New York Mellon Corp now owns 540,450 shares of the mining company’s stock worth $33,097,000 after purchasing an additional 250,445 shares during the last quarter. US Bancorp DE grew its stake in shares of Agnico Eagle Mines by 108.6% in the first quarter. US Bancorp DE now owns 4,420 shares of the mining company’s stock valued at $270,000 after buying an additional 2,301 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Agnico Eagle Mines by 37.6% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,795 shares of the mining company’s stock valued at $171,000 after acquiring an additional 764 shares during the last quarter. Natixis Advisors L.P. acquired a new position in Agnico Eagle Mines during the first quarter worth approximately $678,000. Finally, BlackRock Inc. raised its stake in Agnico Eagle Mines by 44.0% in the 1st quarter. BlackRock Inc. now owns 364,215 shares of the mining company’s stock valued at $22,304,000 after acquiring an additional 111,208 shares during the period. Institutional investors and hedge funds own 58.11% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Raymond James lifted their price objective on shares of Agnico Eagle Mines from $65.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 31st. TheStreet raised Agnico Eagle Mines from a “c+” rating to a “b-” rating in a research note on Wednesday, January 25th. National Bank Financial lowered their target price on Agnico Eagle Mines from C$89.00 to C$88.00 in a research note on Tuesday, February 14th. TD Securities decreased their price target on shares of Agnico Eagle Mines from $68.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, February 17th. Finally, Scotiabank initiated coverage on shares of Agnico Eagle Mines in a research report on Monday, April 3rd. They set an “outperform” rating for the company. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and an average target price of $70.63.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock opened at $56.75 on Monday. Agnico Eagle Mines Limited has a 52-week low of $36.69 and a 52-week high of $61.15. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.07 and a current ratio of 2.32. The stock has a market capitalization of $28.04 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 26.28 and a beta of 0.80. The stock’s 50 day moving average price is $53.95 and its two-hundred day moving average price is $51.85.

Agnico Eagle Mines (NYSE:AEM – Get Rating) (TSE:AEM) last posted its earnings results on Friday, February 17th. The mining company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.42 billion. Agnico Eagle Mines had a net margin of 40.12% and a return on equity of 6.07%. The business’s revenue was up 45.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.46 EPS. On average, equities analysts predict that Agnico Eagle Mines Limited will post 2.28 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Wednesday, May 31st. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 31.50%.

Agnico Eagle Mines Company Profile

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Agnico Eagle Mines Ltd. engages in the exploration and production of gold. It operates through the following segments: Northern Business, Southern Business, and Exploration. The Northern Business segment comprises of LaRonde mine, LaRonde Zone 5 mine, Lapa mine, Goldex mine, Meadowbank mine including the Amaruq deposit, Canadian Malartic joint operation, Meliadine project and Kittila mine.