Bridgewater Advisors Inc. Acquires New Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Bridgewater Advisors Inc. bought a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,375 shares of the mining company's stock, valued at approximately $276,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AEM. Private Trust Co. NA boosted its holdings in shares of Agnico Eagle Mines by 454.9% in the 1st quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock worth $31,000 after purchasing an additional 232 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Agnico Eagle Mines in the 1st quarter worth about $34,000. Hexagon Capital Partners LLC boosted its holdings in shares of Agnico Eagle Mines by 31.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 367 shares of the mining company's stock worth $40,000 after purchasing an additional 87 shares in the last quarter. Continuum Advisory LLC boosted its holdings in shares of Agnico Eagle Mines by 47.0% in the 1st quarter. Continuum Advisory LLC now owns 397 shares of the mining company's stock worth $43,000 after purchasing an additional 127 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in shares of Agnico Eagle Mines in the 1st quarter worth about $49,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Raymond James Financial upgraded Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price objective for the company in a report on Monday, June 30th. Royal Bank Of Canada increased their target price on Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Citigroup increased their target price on Agnico Eagle Mines from $100.00 to $140.00 and gave the company a "buy" rating in a report on Monday, March 31st. Bank of America increased their target price on Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Finally, National Bank Financial upgraded Agnico Eagle Mines to a "strong-buy" rating in a report on Friday, March 21st. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $136.90.

Agnico Eagle Mines Trading Down 0.8%

AEM traded down $0.89 during midday trading on Friday, reaching $117.72. 1,872,910 shares of the company's stock traded hands, compared to its average volume of 2,614,584. Agnico Eagle Mines Limited has a 52 week low of $69.72 and a 52 week high of $126.76. The stock has a market capitalization of $59.19 billion, a price-to-earnings ratio of 25.05, a P/E/G ratio of 0.87 and a beta of 0.50. The firm has a fifty day moving average of $117.99 and a two-hundred day moving average of $106.95. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.37 and a quick ratio of 1.20.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its earnings results on Thursday, April 24th. The mining company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.14. Agnico Eagle Mines had a return on equity of 12.09% and a net margin of 26.48%. The firm had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the company earned $0.76 EPS. The business's revenue was up 34.9% compared to the same quarter last year. On average, equities analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

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

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.