Legal & General Group Plc Has $218.69 Million Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

Legal & General Group Plc lowered its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 24.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Duncker Streett & Co. Inc. increased its position in shares of Agnico Eagle Mines by 37.3% during the 4th quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock worth $32,000 after purchasing an additional 112 shares in the last quarter. Pinnacle Wealth Management Group Inc. increased its position in Agnico Eagle Mines by 0.5% in the 4th quarter. Pinnacle Wealth Management Group Inc. now owns 24,407 shares of the mining company’s stock valued at $1,909,000 after acquiring an additional 125 shares in the last quarter. Diversify Wealth Management LLC increased its position in Agnico Eagle Mines by 2.1% in the 4th quarter. Diversify Wealth Management LLC now owns 6,753 shares of the mining company’s stock valued at $569,000 after acquiring an additional 141 shares in the last quarter. Quadrant Capital Group LLC increased its position in Agnico Eagle Mines by 24.5% in the 4th quarter. Quadrant Capital Group LLC now owns 787 shares of the mining company’s stock valued at $62,000 after acquiring an additional 155 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in Agnico Eagle Mines by 34.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the mining company’s stock valued at $51,000 after acquiring an additional 165 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Up 5.6 %

Agnico Eagle Mines stock opened at $105.75 on Thursday. The company’s 50 day simple moving average is $100.85 and its 200 day simple moving average is $89.36. Agnico Eagle Mines Limited has a fifty-two week low of $60.15 and a fifty-two week high of $111.04. The firm has a market capitalization of $53.19 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 0.66 and a beta of 0.87. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.86 and a quick ratio of 0.86.

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 for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. As a group, sell-side analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend was Friday, February 28th. Agnico Eagle Mines’s payout ratio is 42.33%.

Wall Street Analyst Weigh In

AEM has been the subject of several research reports. Jefferies Financial Group raised 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. National Bank Financial upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Friday, March 21st. StockNews.com cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Bank of America raised their price objective on shares of Agnico Eagle Mines from $119.00 to $142.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, UBS Group cut shares of Agnico Eagle Mines from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $100.00 to $110.00 in a research report on Monday, March 31st. Two 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $111.40.

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.