Bridgewater Associates LP Raises Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Bridgewater Associates LP grew its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 103.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 415,276 shares of the mining company’s stock after buying an additional 211,108 shares during the period. Bridgewater Associates LP’s holdings in Agnico Eagle Mines were worth $32,479,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ontario Teachers Pension Plan Board bought a new stake in Agnico Eagle Mines during the fourth quarter worth about $1,335,000. Rossby Financial LCC purchased a new stake in shares of Agnico Eagle Mines in the 4th quarter worth approximately $709,000. Mariner LLC increased its position in Agnico Eagle Mines by 15.9% during the 4th quarter. Mariner LLC now owns 45,024 shares of the mining company’s stock valued at $3,521,000 after buying an additional 6,171 shares in the last quarter. Cohen & Steers Inc. bought a new stake in Agnico Eagle Mines in the fourth quarter worth $5,106,000. Finally, WealthTrust Axiom LLC grew its stake in shares of Agnico Eagle Mines by 0.8% in the fourth quarter. WealthTrust Axiom LLC now owns 46,661 shares of the mining company’s stock worth $3,649,000 after acquiring an additional 367 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AEM shares. Citigroup upped their price target on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, March 31st. Royal Bank of Canada upped their price objective on Agnico Eagle Mines from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, April 4th. Stifel Canada raised shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Wednesday, March 19th. Scotiabank increased their price target on shares of Agnico Eagle Mines from $105.00 to $126.00 and gave the stock a “sector outperform” rating in a research report on Monday. Finally, UBS Group boosted their price objective on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, April 11th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $114.00.

Agnico Eagle Mines Price Performance

AEM opened at $120.62 on Wednesday. The business has a fifty day moving average of $102.46 and a 200 day moving average of $90.29. The stock has a market cap of $60.70 billion, a P/E ratio of 31.91, a PEG ratio of 0.66 and a beta of 0.87. 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 52-week low of $60.41 and a 52-week high of $125.68.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. 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 business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend was Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 42.33%.

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.