Quantitative Investment Management LLC Buys New Position in Agnico Eagle Mines Limited (NYSE:AEM)

Quantitative Investment Management LLC bought a new stake in Agnico Eagle Mines Limited (NYSE:AEMGet Rating) (TSE:AEM) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 17,958 shares of the mining company’s stock, valued at approximately $1,099,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Agnico Eagle Mines by 90.4% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 476 shares of the mining company’s stock worth $29,000 after acquiring an additional 226 shares in the last quarter. UMB Bank N A MO raised its stake in shares of Agnico Eagle Mines by 764.4% during the first quarter. UMB Bank N A MO now owns 510 shares of the mining company’s stock worth $31,000 after acquiring an additional 451 shares in the last quarter. Private Ocean LLC purchased a new position in shares of Agnico Eagle Mines during the first quarter worth approximately $34,000. Highlander Capital Management LLC purchased a new position in shares of Agnico Eagle Mines during the first quarter worth approximately $41,000. Finally, Rational Advisors LLC raised its stake in shares of Agnico Eagle Mines by 62.0% during the first quarter. Rational Advisors LLC now owns 700 shares of the mining company’s stock worth $43,000 after acquiring an additional 268 shares in the last quarter. 57.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AEM. Stifel Nicolaus cut their target price on shares of Agnico Eagle Mines from C$100.00 to C$89.00 in a report on Wednesday, July 20th. TheStreet cut shares of Agnico Eagle Mines from a “b-” rating to a “c” rating in a report on Tuesday, July 12th. Barclays cut their target price on shares of Agnico Eagle Mines from $70.00 to $62.00 and set an “overweight” rating on the stock in a report on Tuesday, July 19th. Finally, National Bank Financial cut their target price on shares of Agnico Eagle Mines from C$98.00 to C$75.00 in a report on Thursday, July 21st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $74.38.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $44.11 on Friday. The stock has a market cap of $20.12 billion, a P/E ratio of 25.06, a price-to-earnings-growth ratio of 19.06 and a beta of 0.82. The firm’s fifty day simple moving average is $43.36 and its 200 day simple moving average is $51.91. Agnico Eagle Mines Limited has a twelve month low of $38.02 and a twelve month high of $67.14. The company has a quick ratio of 1.48, a current ratio of 2.58 and a debt-to-equity ratio of 0.08.

Agnico Eagle Mines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 1st will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Wednesday, August 31st. Agnico Eagle Mines’s dividend payout ratio (DPR) is currently 90.91%.

Agnico Eagle Mines Company Profile

(Get Rating)

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. It operates through Northern Business and Southern Business segments. The company primarily produces and sells gold deposits, as well as explores for silver, zinc, and copper deposits.

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Institutional Ownership by Quarter for Agnico Eagle Mines (NYSE:AEM)

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