Agnico Eagle Mines Limited (NYSE:AEM) Stake Raised by Hsbc Holdings PLC

Hsbc Holdings PLC raised its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 26.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 627,559 shares of the mining company's stock after purchasing an additional 132,625 shares during the quarter. Hsbc Holdings PLC owned about 0.12% of Agnico Eagle Mines worth $49,048,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. J. Safra Sarasin Holding AG boosted its holdings in Agnico Eagle Mines by 11.4% in the 4th quarter. J. Safra Sarasin Holding AG now owns 14,847 shares of the mining company's stock worth $1,161,000 after acquiring an additional 1,525 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Agnico Eagle Mines by 147.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,828 shares of the mining company's stock valued at $143,000 after purchasing an additional 1,089 shares during the period. Ossiam grew its holdings in Agnico Eagle Mines by 7,859.5% during the 4th quarter. Ossiam now owns 92,887 shares of the mining company's stock valued at $7,263,000 after purchasing an additional 91,720 shares in the last quarter. Bank of Nova Scotia Trust Co. increased its stake in Agnico Eagle Mines by 1.1% during the 4th quarter. Bank of Nova Scotia Trust Co. now owns 22,720 shares of the mining company's stock worth $1,777,000 after buying an additional 239 shares during the period. Finally, Capital World Investors lifted its holdings in Agnico Eagle Mines by 41.9% in the 4th quarter. Capital World Investors now owns 13,952,061 shares of the mining company's stock worth $1,091,550,000 after buying an additional 4,121,164 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Scotiabank reiterated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Monday, April 14th. TD Securities dropped their price target on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. Citigroup increased their price objective on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the company a "buy" rating in a research note on Monday, March 31st. UBS Group boosted their target price on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. Finally, Jefferies Financial Group upped their target price on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a "hold" rating in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $124.40.

Agnico Eagle Mines Stock Performance

Shares of NYSE:AEM traded up $0.07 on Wednesday, hitting $116.44. The company's stock had a trading volume of 974,345 shares, compared to its average volume of 2,432,142. Agnico Eagle Mines Limited has a 12 month low of $63.01 and a 12 month high of $126.76. The stock's 50-day moving average is $106.87 and its two-hundred day moving average is $93.11. 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 has a market capitalization of $58.60 billion, a price-to-earnings ratio of 30.83, a price-to-earnings-growth ratio of 0.66 and a beta of 0.87.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its earnings results on Thursday, April 24th. The mining company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.39 by $0.14. The firm had revenue of $2.38 billion for the quarter, compared to analysts' expectations of $2.27 billion. Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. Agnico Eagle Mines's quarterly revenue was up 34.9% on a year-over-year basis. During the same quarter last year, the company earned $0.76 EPS. On average, equities research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a $0.40 dividend. The ex-dividend date is Monday, December 1st. This represents a $1.60 dividend on an annualized basis and a yield of 1.37%. Agnico Eagle Mines's dividend payout ratio (DPR) is 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.