Nwam LLC Buys 35,304 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Nwam LLC lifted its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 1,051.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,663 shares of the mining company's stock after acquiring an additional 35,304 shares during the period. Nwam LLC's holdings in Agnico Eagle Mines were worth $4,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AEM. Norges Bank purchased a new stake in Agnico Eagle Mines in the fourth quarter valued at approximately $573,446,000. Capital World Investors raised its holdings in Agnico Eagle Mines by 41.9% during the fourth quarter. Capital World Investors now owns 13,952,061 shares of the mining company's stock worth $1,091,550,000 after purchasing an additional 4,121,164 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Agnico Eagle Mines by 81.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company's stock worth $551,339,000 after purchasing an additional 3,155,927 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Agnico Eagle Mines by 33.2% during the 4th quarter. Geode Capital Management LLC now owns 3,006,646 shares of the mining company's stock worth $239,844,000 after purchasing an additional 749,932 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Agnico Eagle Mines by 304.5% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 913,936 shares of the mining company's stock worth $71,465,000 after purchasing an additional 687,971 shares in the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Performance

NYSE AEM traded down $0.89 during midday trading on Friday, hitting $117.72. The company had a trading volume of 1,872,910 shares, compared to its average volume of 2,618,928. The firm has a fifty day simple moving average of $117.99 and a two-hundred day simple moving average of $107.15. The stock has a market cap of $59.19 billion, a price-to-earnings ratio of 25.05, a P/E/G ratio of 0.86 and a beta of 0.50. Agnico Eagle Mines Limited has a fifty-two week low of $69.72 and a fifty-two week high of $126.76. The company has a quick ratio of 1.20, a current ratio of 2.37 and a debt-to-equity ratio of 0.05.

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

Agnico Eagle Mines Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Citigroup lifted their price target on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a "buy" rating in a research note on Monday, March 31st. 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. Bank of America upped their target price on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. BMO Capital Markets started coverage on shares of Agnico Eagle Mines in a research report on Wednesday, April 16th. They issued an "outperform" rating and a $181.00 target price for the company. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $136.90.

About Agnico Eagle Mines

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.