Private Advisor Group LLC Acquires Shares of 9,345 Agnico Eagle Mines Limited (NYSE:AEM)

Private Advisor Group LLC purchased a new position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,345 shares of the mining company’s stock, valued at approximately $476,000.

A number of other hedge funds have also made changes to their positions in AEM. Vanguard Group Inc. lifted its position in shares of Agnico Eagle Mines by 96.5% in the first quarter. Vanguard Group Inc. now owns 15,067,317 shares of the mining company’s stock worth $922,721,000 after purchasing an additional 7,399,467 shares in the last quarter. Norges Bank purchased a new stake in shares of Agnico Eagle Mines in the fourth quarter worth approximately $285,370,000. Canoe Financial LP purchased a new stake in shares of Agnico Eagle Mines in the first quarter worth approximately $115,913,000. Deutsche Bank AG lifted its position in shares of Agnico Eagle Mines by 21.6% in the fourth quarter. Deutsche Bank AG now owns 12,625,625 shares of the mining company’s stock worth $656,406,000 after purchasing an additional 2,241,632 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Agnico Eagle Mines by 57.5% in the first quarter. Invesco Ltd. now owns 3,884,284 shares of the mining company’s stock worth $237,874,000 after buying an additional 1,417,607 shares during the last quarter. 59.37% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Trading Down 0.8 %

Shares of AEM stock opened at $48.13 on Friday. Agnico Eagle Mines Limited has a 12 month low of $36.69 and a 12 month high of $61.15. The company has a quick ratio of 0.85, a current ratio of 2.10 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $49.54 and its two-hundred day moving average is $51.27. The company 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 data on Thursday, July 27th. The mining company reported $0.65 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the prior year, the business earned $0.75 earnings per share. Agnico Eagle Mines’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities analysts predict that Agnico Eagle Mines Limited will post 2.23 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

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

Analysts Set New Price Targets

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

Agnico Eagle Mines 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.