Nuveen Asset Management LLC Raises Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Nuveen Asset Management LLC lifted its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 10.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,027,009 shares of the mining company's stock after buying an additional 99,148 shares during the quarter. Nuveen Asset Management LLC owned about 0.20% of Agnico Eagle Mines worth $80,316,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AEM. Decker Retirement Planning Inc. acquired a new position in Agnico Eagle Mines in the 4th quarter valued at $29,000. Avanza Fonder AB bought a new stake in Agnico Eagle Mines during the fourth quarter worth $3,373,000. HB Wealth Management LLC purchased a new position in Agnico Eagle Mines in the fourth quarter worth $208,000. Diversify Wealth Management LLC lifted its holdings in Agnico Eagle Mines by 2.1% during the 4th quarter. Diversify Wealth Management LLC now owns 6,753 shares of the mining company's stock worth $569,000 after purchasing an additional 141 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Agnico Eagle Mines by 34.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the mining company's stock worth $51,000 after acquiring an additional 165 shares during the last quarter. 68.34% of the stock is owned by institutional investors.

Agnico Eagle Mines Stock Up 2.7%

Shares of NYSE:AEM traded up $3.05 during mid-day trading on Wednesday, reaching $115.62. 4,249,048 shares of the stock were exchanged, compared to its average volume of 2,543,463. The stock's 50 day simple moving average is $110.97 and its 200-day simple moving average is $95.81. Agnico Eagle Mines Limited has a one year low of $63.01 and a one year high of $126.76. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06. The company has a market cap of $58.19 billion, a P/E ratio of 30.59, a P/E/G ratio of 0.66 and a beta of 0.54.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings data on Thursday, April 24th. The mining company reported $1.53 earnings per share 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 business had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the previous year, the company posted $0.76 EPS. Agnico Eagle Mines's quarterly revenue was up 34.9% compared to the same quarter last year. As a group, equities research analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.40 per share. The ex-dividend date is Monday, December 1st. This represents a $1.60 dividend on an annualized basis and a yield of 1.38%. Agnico Eagle Mines's payout ratio is 34.04%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. BMO Capital Markets initiated coverage on shares of Agnico Eagle Mines in a research report on Wednesday, April 16th. They set an "outperform" rating and a $181.00 price target on the stock. Bank of America raised their price objective on shares of Agnico Eagle Mines from $119.00 to $142.00 and gave the company a "buy" rating in a research report on Tuesday, April 8th. Royal Bank of Canada lifted their price target on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, April 4th. Stifel Canada raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research note on Wednesday, March 19th. Finally, UBS Group boosted their price objective on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, April 11th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, Agnico Eagle Mines has a consensus rating of "Buy" and a consensus target price 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.