Legal & General Group Plc Cuts Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Legal & General Group Plc reduced its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 24.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,796,742 shares of the mining company's stock after selling 919,722 shares during the quarter. Legal & General Group Plc owned approximately 0.56% of Agnico Eagle Mines worth $218,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Jones Financial Companies Lllp boosted its holdings in Agnico Eagle Mines by 78.3% in the 4th quarter. Jones Financial Companies Lllp now owns 3,259 shares of the mining company's stock worth $255,000 after buying an additional 1,431 shares during the period. Caldwell Investment Management Ltd. grew its position in shares of Agnico Eagle Mines by 12.0% during the fourth quarter. Caldwell Investment Management Ltd. now owns 87,700 shares of the mining company's stock worth $6,812,000 after purchasing an additional 9,400 shares in the last quarter. Forsta AP Fonden raised its stake in Agnico Eagle Mines by 8.9% during the 4th quarter. Forsta AP Fonden now owns 195,100 shares of the mining company's stock valued at $15,256,000 after purchasing an additional 16,000 shares during the period. Geode Capital Management LLC raised its position in shares of Agnico Eagle Mines by 8.6% during the third quarter. Geode Capital Management LLC now owns 2,256,714 shares of the mining company's stock valued at $183,491,000 after buying an additional 178,999 shares during the last quarter. Finally, Resonant Capital Advisors LLC purchased a new position in Agnico Eagle Mines during the fourth quarter valued at $208,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

AEM has been the subject of a number of research analyst reports. StockNews.com lowered Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. Scotiabank boosted their price target on shares of Agnico Eagle Mines from $105.00 to $126.00 and gave the stock a "sector outperform" rating in a research report on Monday. Jefferies Financial Group increased their price objective on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a "hold" rating in a research report on Tuesday, January 7th. Royal Bank of Canada upped their target price on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. Finally, Raymond James lifted their price target on Agnico Eagle Mines from $105.00 to $130.00 and gave the stock an "outperform" rating in a research report on Friday, April 4th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $114.00.

Agnico Eagle Mines Stock Up 1.2 %

Shares of AEM traded up $1.41 during midday trading on Tuesday, reaching $119.80. 1,185,503 shares of the stock were exchanged, compared to its average volume of 2,421,752. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The company's 50 day moving average is $102.03 and its two-hundred day moving average is $90.08. The company has a market capitalization of $60.29 billion, a P/E ratio of 31.69, a PEG ratio of 0.66 and a beta of 0.87. Agnico Eagle Mines Limited has a 52 week low of $60.15 and a 52 week high of $120.16.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. On average, sell-side analysts anticipate 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. Shareholders 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 annualized dividend and a yield of 1.34%. Agnico Eagle Mines's dividend payout ratio (DPR) is presently 42.33%.

Agnico Eagle Mines Profile

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.