Agnico Eagle Mines Limited (NYSE:AEM) Shares Purchased by USS Investment Management Ltd

USS Investment Management Ltd boosted its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 289.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 133,279 shares of the mining company's stock after acquiring an additional 99,079 shares during the period. USS Investment Management Ltd's holdings in Agnico Eagle Mines were worth $10,415,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in AEM. Zurich Insurance Group Ltd FI acquired a new stake in Agnico Eagle Mines during the 4th quarter valued at $30,000,000. Visionary Wealth Advisors lifted its position in shares of Agnico Eagle Mines by 13.6% in the fourth quarter. Visionary Wealth Advisors now owns 32,037 shares of the mining company's stock valued at $2,506,000 after acquiring an additional 3,825 shares in the last quarter. Wexford Capital LP acquired a new stake in shares of Agnico Eagle Mines during the fourth quarter valued at $831,000. Twinbeech Capital LP purchased a new stake in Agnico Eagle Mines during the 4th quarter worth about $240,000. Finally, Two Sigma Investments LP acquired a new position in Agnico Eagle Mines in the 4th quarter valued at about $1,315,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on AEM. National Bank Financial upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a report on Friday, March 21st. Cfra Research upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Friday, April 25th. Bank of America boosted their price target on Agnico Eagle Mines from $119.00 to $142.00 and gave the company a "buy" rating in a report on Tuesday, April 8th. Royal Bank of Canada increased their price target on Agnico Eagle Mines from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Friday, April 4th. Finally, BMO Capital Markets began coverage on Agnico Eagle Mines in a research report on Wednesday, April 16th. They issued an "outperform" rating and a $181.00 price objective for the company. Two research 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 company's stock. According to MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of "Buy" and a consensus price target of $124.40.

Agnico Eagle Mines Trading Down 0.6%

Shares of AEM traded down $0.72 during trading hours on Tuesday, hitting $116.90. The stock had a trading volume of 1,227,420 shares, compared to its average volume of 2,547,666. The company's fifty day simple moving average is $111.88 and its 200 day simple moving average is $96.77. Agnico Eagle Mines Limited has a 12-month low of $63.01 and a 12-month high of $126.76. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86. The firm has a market cap of $58.83 billion, a P/E ratio of 30.88, 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 released its quarterly earnings data 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 the consensus estimate of $2.27 billion. During the same period last year, the business posted $0.76 EPS. The company's quarterly revenue was up 34.9% compared to the same quarter last year. Equities research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, May 30th. This represents a yield of 1.36%. Agnico Eagle Mines's dividend payout ratio is currently 34.04%.

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.