Addenda Capital Inc. Acquires 574,420 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Addenda Capital Inc. increased its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 413.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 713,237 shares of the mining company's stock after acquiring an additional 574,420 shares during the period. Agnico Eagle Mines comprises approximately 3.7% of Addenda Capital Inc.'s investment portfolio, making the stock its 4th largest holding. Addenda Capital Inc. owned 0.14% of Agnico Eagle Mines worth $77,322,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its position in shares of Agnico Eagle Mines by 859.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company's stock valued at $28,000 after acquiring an additional 318 shares during the period. Fifth Third Bancorp grew its holdings in Agnico Eagle Mines by 176.9% during the fourth quarter. Fifth Third Bancorp now owns 407 shares of the mining company's stock worth $32,000 after purchasing an additional 260 shares during the period. Duncker Streett & Co. Inc. grew its holdings in Agnico Eagle Mines by 37.3% during the fourth quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company's stock worth $32,000 after purchasing an additional 112 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Agnico Eagle Mines during the fourth quarter worth approximately $34,000. Finally, Coppell Advisory Solutions LLC raised its stake in Agnico Eagle Mines by 235.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 469 shares of the mining company's stock valued at $37,000 after buying an additional 329 shares during the period. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock traded up $1.12 during mid-day trading on Wednesday, reaching $123.63. 2,171,985 shares of the company were exchanged, compared to its average volume of 2,567,232. The firm has a market cap of $62.24 billion, a PE ratio of 32.71, a PEG ratio of 0.66 and a beta of 0.54. 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 fifty day simple moving average of $113.59 and a 200-day simple moving average of $98.40. Agnico Eagle Mines Limited has a 12 month low of $63.01 and a 12 month high of $126.76.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings results on Thursday, April 24th. The mining company reported $1.53 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.14. Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. The company had revenue of $2.38 billion for the quarter, compared to analysts' expectations of $2.27 billion. During the same quarter last year, the business earned $0.76 earnings per share. Agnico Eagle Mines's revenue was up 34.9% on a year-over-year basis. As a group, equities research analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The company also recently announced a dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a $0.40 dividend. This represents a dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, May 30th. Agnico Eagle Mines's payout ratio is presently 34.04%.

Analyst Upgrades and Downgrades

AEM has been the subject of several research analyst reports. Bank of America lifted their target price on Agnico Eagle Mines from $119.00 to $142.00 and gave the stock a "buy" rating in a research note on Tuesday, April 8th. Citigroup raised their price target on Agnico Eagle Mines from $100.00 to $140.00 and gave the company a "buy" rating in a report on Monday, March 31st. Wall Street Zen cut shares of Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. Royal Bank of Canada increased their price objective on shares of Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday. Finally, UBS Group lifted their target price on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, April 11th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $127.40.

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.