Allspring Global Investments Holdings LLC Has $10 Million Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Allspring Global Investments Holdings LLC increased its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 182,330 shares of the mining company’s stock after buying an additional 7,599 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Agnico Eagle Mines were worth $10,001,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in AEM. Vanguard Group Inc. increased its holdings in shares of Agnico Eagle Mines by 96.5% in the first quarter. Vanguard Group Inc. now owns 15,067,317 shares of the mining company’s stock valued at $922,721,000 after purchasing an additional 7,399,467 shares during the last quarter. Norges Bank acquired a new position in shares of Agnico Eagle Mines in the fourth quarter valued at $285,370,000. Invesco Ltd. increased its holdings in shares of Agnico Eagle Mines by 57.5% in the first quarter. Invesco Ltd. now owns 3,884,284 shares of the mining company’s stock valued at $237,874,000 after purchasing an additional 1,417,607 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of Agnico Eagle Mines by 13.9% in the fourth quarter. Mackenzie Financial Corp now owns 9,852,941 shares of the mining company’s stock valued at $511,175,000 after purchasing an additional 1,199,348 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd acquired a new position in shares of Agnico Eagle Mines in the fourth quarter valued at $41,610,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at $61.74 on Wednesday. The business has a 50 day moving average of $54.18 and a 200-day moving average of $51.63. Agnico Eagle Mines Limited has a 1 year low of $43.22 and a 1 year high of $64.19. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.09 and a quick ratio of 0.74. The company has a market capitalization of $30.78 billion, a P/E ratio of 15.02, a P/E/G ratio of 0.92 and a beta of 1.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Friday, February 16th. The mining company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.09. Agnico Eagle Mines had a return on equity of 5.54% and a net margin of 29.29%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The firm’s revenue was up 26.9% compared to the same quarter last year. On average, equities research analysts predict that Agnico Eagle Mines Limited will post 2.51 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.59%. The ex-dividend date was Thursday, February 29th. Agnico Eagle Mines’s dividend payout ratio is currently 38.93%.

Wall Street Analyst Weigh In

AEM has been the topic of several research reports. CIBC decreased their price objective on shares of Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. TD Securities cut their price objective on shares of Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Raymond James increased their target price on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “outperform” rating in a report on Friday, January 12th. National Bank Financial reissued an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. Finally, Jefferies Financial Group initiated coverage on shares of Agnico Eagle Mines in a report on Thursday, February 29th. They issued a “hold” rating and a $54.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.71.

Agnico Eagle Mines Company 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.