Hsbc Holdings PLC Acquires 132,625 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Hsbc Holdings PLC boosted its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 26.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 627,559 shares of the mining company’s stock after purchasing an additional 132,625 shares during the period. Hsbc Holdings PLC’s holdings in Agnico Eagle Mines were worth $49,048,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MML Investors Services LLC acquired a new position in Agnico Eagle Mines in the third quarter valued at about $252,000. Te Ahumairangi Investment Management Ltd boosted its holdings in shares of Agnico Eagle Mines by 1.7% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 63,461 shares of the mining company’s stock worth $5,089,000 after acquiring an additional 1,047 shares in the last quarter. World Investment Advisors LLC bought a new stake in Agnico Eagle Mines during the 3rd quarter worth approximately $359,000. Wilmington Savings Fund Society FSB acquired a new stake in Agnico Eagle Mines during the 3rd quarter valued at $1,818,000. Finally, Lord Abbett & CO. LLC raised its position in Agnico Eagle Mines by 22.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 431,200 shares of the mining company’s stock valued at $34,736,000 after purchasing an additional 78,700 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Up 1.3 %

Shares of Agnico Eagle Mines stock opened at $119.80 on Friday. The stock has a market cap of $60.29 billion, a PE ratio of 31.69, a price-to-earnings-growth ratio of 0.66 and a beta of 0.87. Agnico Eagle Mines Limited has a 12 month low of $63.01 and a 12 month high of $126.76. The business has a fifty day simple moving average of $105.66 and a 200 day simple moving average of $92.20. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, April 24th. The mining company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.51. Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. Research analysts predict 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 given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend was Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio is currently 42.33%.

Wall Street Analysts Forecast Growth

AEM has been the topic of several research reports. BMO Capital Markets started coverage on shares of Agnico Eagle Mines in a research report on Wednesday, April 16th. They set an “outperform” rating and a $181.00 price target on the stock. Citigroup increased their price target 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 price objective 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. Raymond James upped their price objective on Agnico Eagle Mines from $105.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, April 4th. Finally, Royal Bank of Canada boosted their target price on Agnico Eagle Mines from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, April 4th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines has an average rating of “Buy” and an average price target of $124.40.

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.