Agnico Eagle Mines Limited (NYSE:AEM) Stock Holdings Lifted by Scotia Capital Inc.

Key Points

• Scotia Capital Inc. increased its stake in Agnico Eagle Mines Limited by 22.7%, owning 468,918 shares valued at approximately $50.7 million after purchasing an additional 86,689 shares in the first quarter.
• Agnico Eagle Mines reported $1.94 earnings per share for the last quarter, surpassing analysts' expectations, with a year-over-year revenue growth of 35.6%.
• The company announced a dividend of $0.40 per share, reflecting a dividend yield of 136.0%, and is currently rated as a "Buy" by the majority of equity analysts.

Scotia Capital Inc. increased its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 22.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 468,918 shares of the mining company's stock after acquiring an additional 86,689 shares during the period. Scotia Capital Inc. owned about 0.09% of Agnico Eagle Mines worth $50,699,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AEM. Cheviot Value Management LLC increased its stake in shares of Agnico Eagle Mines by 2.5% during the first quarter. Cheviot Value Management LLC now owns 483,538 shares of the mining company's stock valued at $55,268,000 after buying an additional 11,751 shares during the period. J. Safra Sarasin Holding AG boosted its position in Agnico Eagle Mines by 29.3% during the first quarter. J. Safra Sarasin Holding AG now owns 19,200 shares of the mining company's stock valued at $2,081,000 after purchasing an additional 4,353 shares in the last quarter. Cumberland Partners Ltd purchased a new position in Agnico Eagle Mines in the first quarter valued at about $840,000. Klein Pavlis & Peasley Financial Inc. raised its holdings in Agnico Eagle Mines by 0.3% in the first quarter. Klein Pavlis & Peasley Financial Inc. now owns 69,682 shares of the mining company's stock worth $7,542,000 after purchasing an additional 243 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Agnico Eagle Mines by 15.6% during the first quarter. PNC Financial Services Group Inc. now owns 13,358 shares of the mining company's stock valued at $1,448,000 after buying an additional 1,806 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Trading Up 0.3%

NYSE:AEM traded up $0.44 on Thursday, hitting $135.86. 935,259 shares of the stock were exchanged, compared to its average volume of 2,992,016. The stock has a fifty day moving average of $122.08 and a 200-day moving average of $110.97. The stock has a market cap of $68.31 billion, a PE ratio of 23.06, a PEG ratio of 0.93 and a beta of 0.44. Agnico Eagle Mines Limited has a fifty-two week low of $71.93 and a fifty-two week high of $137.19. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.11. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the prior year, the firm posted $1.07 EPS. The firm's revenue was up 35.6% compared to the same quarter last year. As a group, equities analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The business also recently declared a dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $0.40 per share. This represents a dividend yield of 136.0%. The ex-dividend date was Friday, May 30th. Agnico Eagle Mines's payout ratio is 27.21%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AEM. Raymond James Financial upgraded Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 target price on the stock in a research note on Monday, June 30th. Scotiabank reiterated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Monday, April 14th. Cfra Research raised shares of Agnico Eagle Mines to a "strong-buy" rating in a report on Friday, April 25th. UBS Group boosted their target price on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, April 11th. Finally, CIBC reissued an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, July 15th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of "Buy" and a consensus target price of $136.90.

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.