Allspring Global Investments Holdings LLC Increases Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Allspring Global Investments Holdings LLC grew its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 243.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 504,522 shares of the mining company’s stock after purchasing an additional 357,696 shares during the period. Allspring Global Investments Holdings LLC owned about 0.10% of Agnico Eagle Mines worth $39,431,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Compound Global Advisors LLC purchased a new stake in Agnico Eagle Mines during the 4th quarter worth approximately $782,000. Violich Capital Management Inc. grew its stake in shares of Agnico Eagle Mines by 4.4% in the fourth quarter. Violich Capital Management Inc. now owns 35,217 shares of the mining company’s stock worth $2,754,000 after acquiring an additional 1,500 shares in the last quarter. Savant Capital LLC increased its position in shares of Agnico Eagle Mines by 23.7% during the fourth quarter. Savant Capital LLC now owns 3,713 shares of the mining company’s stock worth $290,000 after acquiring an additional 711 shares during the period. Kestra Private Wealth Services LLC raised its stake in shares of Agnico Eagle Mines by 23.6% in the fourth quarter. Kestra Private Wealth Services LLC now owns 7,929 shares of the mining company’s stock valued at $620,000 after acquiring an additional 1,515 shares in the last quarter. Finally, Stephens Inc. AR purchased a new position in Agnico Eagle Mines in the fourth quarter valued at $284,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AEM. Jefferies Financial Group upped their price target on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Tuesday, January 7th. Scotiabank raised their target price on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 21st. Finally, Royal Bank of Canada boosted their price target on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.75.

Agnico Eagle Mines Trading Down 5.0 %

Shares of Agnico Eagle Mines stock opened at $95.75 on Friday. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06. The company has a fifty day simple moving average of $86.51 and a 200-day simple moving average of $83.16. The stock has a market cap of $48.15 billion, a price-to-earnings ratio of 47.87, a PEG ratio of 0.66 and a beta of 1.10. Agnico Eagle Mines Limited has a 12-month low of $45.75 and a 12-month high of $101.45.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, February 13th. The mining company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 12.86% and a return on equity of 8.88%. On average, equities analysts forecast that Agnico Eagle Mines Limited will post 4.14 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.67%. The ex-dividend date is Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio (DPR) is 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.