Bridgewater Associates LP Acquires 211,108 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Bridgewater Associates LP increased its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 103.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 415,276 shares of the mining company's stock after purchasing an additional 211,108 shares during the quarter. Bridgewater Associates LP owned 0.08% of Agnico Eagle Mines worth $32,479,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ontario Teachers Pension Plan Board purchased a new stake in shares of Agnico Eagle Mines during the 4th quarter valued at about $1,335,000. Rossby Financial LCC bought a new position in Agnico Eagle Mines in the 4th quarter worth approximately $709,000. Mariner LLC grew its holdings 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 shares of Agnico Eagle Mines in the 4th quarter worth about $5,106,000. Finally, WealthTrust Axiom LLC lifted its stake in shares of Agnico Eagle Mines by 0.8% in the 4th quarter. WealthTrust Axiom LLC now owns 46,661 shares of the mining company's stock valued at $3,649,000 after purchasing an additional 367 shares during the last quarter. Institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Stock Performance

Shares of AEM stock traded down $0.96 during trading hours on Friday, reaching $121.58. 3,552,155 shares of the company's stock were exchanged, compared to its average volume of 2,417,228. The business has a fifty day moving average price of $103.84 and a 200-day moving average price of $91.07. The stock has a market capitalization of $61.19 billion, a P/E ratio of 32.16, a P/E/G 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 fifty-two week low of $61.56 and a fifty-two week high of $125.94.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued 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 net margin of 22.88% and a return on equity of 10.45%. Analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal 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 paid 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 1.32%. Agnico Eagle Mines's dividend payout ratio is 42.33%.

Analyst Ratings Changes

Several research firms have recently commented on AEM. Jefferies Financial Group boosted their price target on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a "hold" rating in a report on Tuesday, January 7th. Raymond James lifted their target price on shares of Agnico Eagle Mines from $105.00 to $130.00 and gave the stock an "outperform" rating in a research note on Friday, April 4th. BMO Capital Markets began coverage on Agnico Eagle Mines in a research note on Wednesday. They set an "outperform" rating and a $181.00 price target on the stock. Royal Bank of Canada upped their price target on Agnico Eagle Mines from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. Finally, Citigroup boosted their target price on Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a "buy" rating in a research note on Monday, March 31st. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $124.40.

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.