Arrowstreet Capital Limited Partnership Purchases 3,155,927 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Arrowstreet Capital Limited Partnership boosted its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 81.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,051,473 shares of the mining company’s stock after buying an additional 3,155,927 shares during the period. Arrowstreet Capital Limited Partnership owned about 1.40% of Agnico Eagle Mines worth $551,339,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of AEM. Versant Capital Management Inc bought a new stake in Agnico Eagle Mines in the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC boosted its holdings in Agnico Eagle Mines by 859.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock valued at $28,000 after purchasing an additional 318 shares in the last quarter. Decker Retirement Planning Inc. bought a new stake in shares of Agnico Eagle Mines in the 4th quarter valued at approximately $29,000. Fifth Third Bancorp raised its holdings in shares of Agnico Eagle Mines by 176.9% in the 4th quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock worth $32,000 after buying an additional 260 shares in the last quarter. Finally, Duncker Streett & Co. Inc. lifted 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 buying an additional 112 shares during the period. Institutional investors own 68.34% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on AEM shares. Jefferies Financial Group upped their price target on 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 raised shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Friday, March 21st. Stifel Canada upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Wednesday, March 19th. Scotiabank raised their price objective on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 21st. Finally, StockNews.com cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $95.78.

Agnico Eagle Mines Price Performance

Shares of AEM stock opened at $107.34 on Friday. 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 Limited has a 12 month low of $60.15 and a 12 month high of $110.36. The firm has a market cap of $53.99 billion, a price-to-earnings ratio of 28.40, a PEG ratio of 0.66 and a beta of 1.00. The stock has a 50-day moving average price of $97.96 and a 200 day moving average price of $87.85.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. Research analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.49%. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 42.33%.

Agnico Eagle Mines 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.