Cambridge Investment Research Advisors Inc. Has $2.66 Million Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Cambridge Investment Research Advisors Inc. lifted its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 9.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,258 shares of the mining company’s stock after purchasing an additional 4,630 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Agnico Eagle Mines were worth $2,664,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its position in Agnico Eagle Mines by 86.4% during the 1st quarter. Bank of New York Mellon Corp now owns 540,450 shares of the mining company’s stock worth $33,097,000 after buying an additional 250,445 shares in the last quarter. US Bancorp DE raised its holdings in Agnico Eagle Mines by 108.6% during the first quarter. US Bancorp DE now owns 4,420 shares of the mining company’s stock worth $270,000 after acquiring an additional 2,301 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in Agnico Eagle Mines by 37.6% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,795 shares of the mining company’s stock valued at $171,000 after purchasing an additional 764 shares during the last quarter. Natixis Advisors L.P. bought a new position in Agnico Eagle Mines in the first quarter valued at approximately $678,000. Finally, BlackRock Inc. increased its position in shares of Agnico Eagle Mines by 44.0% during the 1st quarter. BlackRock Inc. now owns 364,215 shares of the mining company’s stock worth $22,304,000 after purchasing an additional 111,208 shares during the last quarter. Institutional investors and hedge funds own 59.37% of the company’s stock.

Agnico Eagle Mines Stock Down 0.8 %

AEM opened at $48.13 on Friday. Agnico Eagle Mines Limited has a 1-year low of $36.69 and a 1-year high of $61.15. The stock’s fifty day simple moving average is $49.54 and its 200 day simple moving average is $51.27. The company has a current ratio of 2.10, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. The stock has a market cap of $23.85 billion, a PE ratio of 9.36, a price-to-earnings-growth ratio of 21.66 and a beta of 0.84.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Thursday, July 27th. The mining company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.10. Agnico Eagle Mines had a return on equity of 5.63% and a net margin of 40.06%. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the prior year, the business earned $0.75 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, research analysts expect that Agnico Eagle Mines Limited will post 2.23 earnings per share for the current year.

Agnico Eagle Mines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Thursday, August 31st. Agnico Eagle Mines’s dividend payout ratio is 31.13%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets upped their price objective on Agnico Eagle Mines from $64.00 to $67.00 in a research note on Thursday, July 27th. CSFB upped their price objective on Agnico Eagle Mines from $60.00 to $61.00 and gave the stock an “outperform” rating in a research note on Thursday, August 17th. StockNews.com assumed coverage on Agnico Eagle Mines in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Barclays upped their price objective on Agnico Eagle Mines from $61.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. 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.