Raymond James Financial Inc. Invests $52.50 Million in Agnico Eagle Mines Limited (NYSE:AEM)

Raymond James Financial Inc. acquired a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 671,307 shares of the mining company's stock, valued at approximately $52,503,000. Raymond James Financial Inc. owned 0.13% of Agnico Eagle Mines at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AEM. Van ECK Associates Corp boosted its position in shares of Agnico Eagle Mines by 3.6% during the 4th quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company's stock valued at $1,745,858,000 after purchasing an additional 778,919 shares in the last quarter. FMR LLC boosted its holdings in Agnico Eagle Mines by 43.5% during the third quarter. FMR LLC now owns 15,061,244 shares of the mining company's stock worth $1,213,311,000 after buying an additional 4,562,005 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in Agnico Eagle Mines by 5.5% during the fourth quarter. CIBC Asset Management Inc now owns 6,383,024 shares of the mining company's stock worth $499,956,000 after buying an additional 332,576 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Agnico Eagle Mines by 16.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,892,898 shares of the mining company's stock worth $474,660,000 after buying an additional 817,240 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Agnico Eagle Mines by 7.4% in the third quarter. National Bank of Canada FI now owns 4,155,349 shares of the mining company's stock valued at $334,749,000 after buying an additional 285,565 shares in the last quarter. Institutional investors own 68.34% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Scotiabank raised their price objective on Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, January 21st. Jefferies Financial Group increased their price target on Agnico Eagle Mines from $85.00 to $88.00 and gave the company a "hold" rating in a research report on Tuesday, January 7th. StockNews.com downgraded Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th. TD Securities decreased their target price on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. Finally, Royal Bank of Canada boosted their price target on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the company an "outperform" rating in a report on Tuesday, February 11th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $95.78.

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Agnico Eagle Mines Stock Performance

Shares of AEM opened at $100.54 on Wednesday. The company has a market capitalization of $50.56 billion, a PE ratio of 26.60, a PEG ratio of 0.66 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86. The company's 50 day moving average price is $92.15 and its 200 day moving average price is $85.63. Agnico Eagle Mines Limited has a 52 week low of $54.02 and a 52 week high of $101.81.

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%. Research analysts expect 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 quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Friday, February 28th. Agnico Eagle Mines's payout ratio is currently 42.33%.

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.

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