Nuveen Asset Management LLC Boosts Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Nuveen Asset Management LLC boosted its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 10.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,027,009 shares of the mining company’s stock after buying an additional 99,148 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.20% of Agnico Eagle Mines worth $80,316,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its stake in Agnico Eagle Mines by 78.3% in the 4th quarter. Jones Financial Companies Lllp now owns 3,259 shares of the mining company’s stock valued at $255,000 after buying an additional 1,431 shares in the last quarter. Forsta AP Fonden lifted its stake in Agnico Eagle Mines by 8.9% in the 4th quarter. Forsta AP Fonden now owns 195,100 shares of the mining company’s stock valued at $15,256,000 after buying an additional 16,000 shares in the last quarter. Resonant Capital Advisors LLC purchased a new stake in Agnico Eagle Mines in the 4th quarter valued at approximately $208,000. US Bancorp DE lifted its stake in Agnico Eagle Mines by 2.7% in the 4th quarter. US Bancorp DE now owns 6,770 shares of the mining company’s stock valued at $529,000 after buying an additional 175 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in Agnico Eagle Mines in the 4th quarter valued at approximately $602,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AEM shares. Royal Bank of Canada increased their price target on Agnico Eagle Mines from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, April 4th. Raymond James increased their price target on Agnico Eagle Mines from $105.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, April 4th. UBS Group increased their price target on Agnico Eagle Mines from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, April 11th. Citigroup increased their target price on Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, March 31st. Finally, Cfra Research raised Agnico Eagle Mines to a “strong-buy” rating in a research report on Friday, April 25th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $124.40.

Agnico Eagle Mines Stock Down 0.1%

Shares of Agnico Eagle Mines stock opened at $106.39 on Friday. The business has a 50-day moving average of $110.63 and a 200-day moving average of $95.47. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.86 and a quick ratio of 0.86. The company has a market capitalization of $53.54 billion, a PE ratio of 28.15, a P/E/G ratio of 0.66 and a beta of 0.54. Agnico Eagle Mines Limited has a 1-year low of $63.01 and a 1-year high of $126.76.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, April 24th. The mining company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.14. The company had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.27 billion. Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. The company’s revenue was up 34.9% on a year-over-year basis. During the same period last year, the firm earned $0.76 earnings per share. As a group, equities analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Monday, December 1st. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 34.04%.

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.