Agnico Eagle Mines Limited (NYSE:AEM) Position Boosted by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 34.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,915 shares of the mining company’s stock after buying an additional 7,185 shares during the quarter. Principal Financial Group Inc.’s holdings in Agnico Eagle Mines were worth $3,024,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AEM. Private Trust Co. NA lifted its position in Agnico Eagle Mines by 454.9% in the first quarter. Private Trust Co. NA now owns 283 shares of the mining company’s stock worth $31,000 after purchasing an additional 232 shares during the period. Golden State Wealth Management LLC acquired a new stake in Agnico Eagle Mines in the first quarter worth approximately $34,000. Coppell Advisory Solutions LLC lifted its position in Agnico Eagle Mines by 235.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 469 shares of the mining company’s stock worth $37,000 after purchasing an additional 329 shares during the period. Continuum Advisory LLC lifted its position in Agnico Eagle Mines by 47.0% in the first quarter. Continuum Advisory LLC now owns 397 shares of the mining company’s stock worth $43,000 after purchasing an additional 127 shares during the period. Finally, ORG Wealth Partners LLC acquired a new stake in Agnico Eagle Mines in the first quarter worth approximately $49,000. 68.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AEM. Cfra Research upgraded Agnico Eagle Mines to a “strong-buy” rating in a research report on Friday, April 25th. Royal Bank Of Canada increased their price objective on Agnico Eagle Mines from $115.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, June 4th. Lake Street Capital reiterated a “buy” rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. Bank of America increased their price objective on Agnico Eagle Mines from $170.00 to $173.00 and gave the company a “buy” rating in a research report on Monday, June 23rd. Finally, Raymond James Financial upgraded Agnico Eagle Mines to a “moderate buy” rating and set a $130.00 price objective for the company in a research report on Monday, June 30th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $136.90.

Agnico Eagle Mines Price Performance

AEM stock opened at $117.72 on Friday. The stock has a 50-day moving average price of $117.99 and a two-hundred day moving average price of $106.95. The stock has a market cap of $59.19 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 0.87 and a beta of 0.50. The company has a current ratio of 2.37, a quick ratio of 1.20 and a debt-to-equity ratio of 0.05. Agnico Eagle Mines Limited has a 1 year low of $69.72 and a 1 year high of $126.76.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Thursday, April 24th. The mining company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.14. Agnico Eagle Mines had a net margin of 26.48% and a return on equity of 12.09%. The company had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the prior year, the business posted $0.76 EPS. The company’s quarterly revenue was up 34.9% on a year-over-year basis. Equities analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The company also recently announced a dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a $0.40 dividend. The ex-dividend date was Friday, May 30th. This represents a yield of 1.36%. Agnico Eagle Mines’s dividend payout ratio (DPR) is currently 34.04%.

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.