Nuveen LLC Takes Position in Agnico Eagle Mines Limited (NYSE:AEM)

Key Points

• Nuveen LLC invested approximately $85.93 million to acquire 739,754 shares of Agnico Eagle Mines Limited, representing about 0.15% ownership of the company.
• Various institutional investors, including Capital World Investors and TD Asset Management, have significantly increased their holdings in Agnico Eagle Mines, reflecting strong interest from the investment community.
• Agnico Eagle Mines reported a quarterly earnings per share (EPS) of $1.94, exceeding expectations and showcasing a 35.6% year-over-year revenue growth.

Nuveen LLC bought a new stake 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 and Exchange Commission. The institutional investor bought 739,754 shares of the mining company's stock, valued at approximately $85,926,000. Nuveen LLC owned 0.15% of Agnico Eagle Mines at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AEM. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Agnico Eagle Mines by 1.5% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,702 shares of the mining company's stock valued at $618,000 after purchasing an additional 85 shares during the last quarter. Hexagon Capital Partners LLC raised its position in Agnico Eagle Mines by 31.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 367 shares of the mining company's stock valued at $40,000 after purchasing an additional 87 shares during the last quarter. Benjamin Edwards Inc. raised its position in Agnico Eagle Mines by 2.0% during the 4th quarter. Benjamin Edwards Inc. now owns 5,472 shares of the mining company's stock valued at $428,000 after purchasing an additional 106 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC raised its position in Agnico Eagle Mines by 1.8% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,944 shares of the mining company's stock valued at $543,000 after purchasing an additional 120 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in Agnico Eagle Mines by 19.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 774 shares of the mining company's stock valued at $84,000 after purchasing an additional 125 shares during the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM traded up $0.55 during trading on Friday, reaching $133.28. 2,164,905 shares of the company's stock traded hands, compared to its average volume of 2,772,824. Agnico Eagle Mines Limited has a fifty-two week low of $75.17 and a fifty-two week high of $137.81. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. The firm has a market cap of $67.02 billion, a PE ratio of 22.67, a P/E/G ratio of 0.92 and a beta of 0.44. The company has a 50-day simple moving average of $123.98 and a 200-day simple moving average of $113.18.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its earnings results on Wednesday, July 30th. The mining company reported $1.94 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.11. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%. The firm had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.46 billion. During the same period last year, the firm earned $1.07 EPS. The company's quarterly revenue was up 35.6% on a year-over-year basis. As a group, analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Announces Dividend

The firm also recently announced a dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $0.40 dividend. This represents a yield of 136.0%. The ex-dividend date of this dividend was Friday, May 30th. Agnico Eagle Mines's dividend payout ratio (DPR) is 27.21%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Cfra Research raised Agnico Eagle Mines to a "strong-buy" rating in a research report on Friday, April 25th. Bank of America upped their price target on Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. National Bankshares restated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. Raymond James Financial upgraded Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price target on the stock in a research note on Monday, June 30th. Finally, TD Securities upgraded Agnico Eagle Mines to a "strong-buy" rating in a research note on Thursday, July 17th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $136.90.

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.