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

Arrowstreet Capital Limited Partnership lifted its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 81.0% in the 4th quarter, Holdings Channel reports. The fund owned 7,051,473 shares of the mining company’s stock after acquiring an additional 3,155,927 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Agnico Eagle Mines were worth $551,339,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Versant Capital Management Inc acquired a new position in Agnico Eagle Mines in the 4th quarter worth $26,000. Smartleaf Asset Management LLC lifted its holdings in shares of Agnico Eagle Mines by 859.5% in 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 position in shares of Agnico Eagle Mines during the fourth quarter worth about $29,000. Fifth Third Bancorp raised its position in Agnico Eagle Mines by 176.9% in the 4th quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock valued at $32,000 after buying an additional 260 shares during the last quarter. Finally, Duncker Streett & Co. Inc. lifted its stake in Agnico Eagle Mines by 37.3% in the 4th quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock valued at $32,000 after acquiring an additional 112 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Trading Down 0.5 %

AEM stock opened at $107.34 on Friday. The stock has a market cap of $53.99 billion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of 0.66 and a beta of 1.00. The company has a fifty day moving average price of $97.96 and a two-hundred day moving average price of $87.85. Agnico Eagle Mines Limited has a one year low of $60.15 and a one year high of $110.36. 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 announced its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 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%. Equities analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, February 28th. This represents a $1.60 annualized dividend and a yield of 1.49%. Agnico Eagle Mines’s payout ratio is currently 42.33%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AEM shares. Scotiabank raised their price target on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 21st. Jefferies Financial Group upped their target price on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Tuesday, January 7th. TD Securities decreased their price target on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Royal Bank of Canada upped their price objective on Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Finally, National Bank Financial raised shares of Agnico Eagle Mines to a “strong-buy” rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $95.78.

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.