Agnico Eagle Mines Limited (NYSE:AEM) Shares Purchased by Old West Investment Management LLC

Old West Investment Management LLC raised its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 19.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 107,355 shares of the mining company's stock after acquiring an additional 17,785 shares during the period. Agnico Eagle Mines makes up 3.4% of Old West Investment Management LLC's holdings, making the stock its 12th biggest holding. Old West Investment Management LLC's holdings in Agnico Eagle Mines were worth $8,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in AEM. Captrust Financial Advisors raised its position in Agnico Eagle Mines by 7.0% in the third quarter. Captrust Financial Advisors now owns 5,316 shares of the mining company's stock valued at $428,000 after purchasing an additional 349 shares during the period. Verition Fund Management LLC purchased a new position in Agnico Eagle Mines during the 3rd quarter valued at about $333,000. Benjamin Edwards Inc. acquired a new position in Agnico Eagle Mines in the 3rd quarter valued at about $432,000. Hilltop Holdings Inc. grew its position in Agnico Eagle Mines by 42.6% in the 3rd quarter. Hilltop Holdings Inc. now owns 7,042 shares of the mining company's stock valued at $567,000 after acquiring an additional 2,102 shares in the last quarter. Finally, HighTower Advisors LLC lifted its position in shares of Agnico Eagle Mines by 10.8% during the third quarter. HighTower Advisors LLC now owns 50,066 shares of the mining company's stock worth $4,035,000 after purchasing an additional 4,865 shares in the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several equities research analysts recently weighed in on AEM shares. Raymond James upped 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. TD Securities decreased their target price on Agnico Eagle Mines from $108.00 to $106.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. National Bank Financial upgraded Agnico Eagle Mines to a "strong-buy" rating in a report on Friday, March 21st. Royal Bank of Canada lifted their price objective on Agnico Eagle Mines from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. Finally, Scotiabank upped their target price 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. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of "Buy" and a consensus price target of $111.40.

Agnico Eagle Mines Stock Performance

AEM traded up $7.30 on Thursday, reaching $113.10. The company had a trading volume of 4,596,741 shares, compared to its average volume of 2,406,647. The stock has a 50-day moving average price of $100.85 and a 200-day moving average price of $89.36. The stock has a market capitalization of $56.89 billion, a PE ratio of 29.83, a P/E/G ratio of 0.66 and a beta of 0.87. Agnico Eagle Mines Limited has a 1 year low of $60.15 and a 1 year high of $113.14. 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 (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly 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 return on equity of 10.45% and a net margin of 22.88%. As a group, research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.41%. The ex-dividend date was Friday, February 28th. Agnico Eagle Mines's payout ratio is currently 42.33%.

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.