Wexford Capital LP Purchases New Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Wexford Capital LP bought a new position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,620 shares of the mining company's stock, valued at approximately $831,000.

Several other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Agnico Eagle Mines during the fourth quarter worth approximately $573,446,000. Capital World Investors increased its stake in Agnico Eagle Mines by 41.9% in the fourth quarter. Capital World Investors now owns 13,952,061 shares of the mining company's stock valued at $1,091,550,000 after acquiring an additional 4,121,164 shares during the period. Arrowstreet Capital Limited Partnership grew its stake 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 buying an additional 3,155,927 shares during the last quarter. AGF Management Ltd. grew its stake in Agnico Eagle Mines by 184.6% during the fourth quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company's stock worth $109,205,000 after buying an additional 905,328 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Agnico Eagle Mines by 3.6% during the fourth quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company's stock worth $1,745,858,000 after purchasing an additional 778,919 shares in the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock traded down $1.04 during mid-day trading on Thursday, hitting $114.59. 3,323,133 shares of the company traded hands, compared to its average volume of 2,546,777. Agnico Eagle Mines Limited has a one year low of $63.01 and a one year high of $126.76. The stock has a market cap of $57.67 billion, a price-to-earnings ratio of 30.31, a price-to-earnings-growth ratio of 0.66 and a beta of 0.54. 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 stock has a fifty day moving average price of $111.21 and a 200-day moving average price of $95.94.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced 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. The firm had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.27 billion. Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. The business's quarterly revenue was up 34.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.76 EPS. On average, equities analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a $0.40 dividend. The ex-dividend date is Monday, December 1st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.40%. Agnico Eagle Mines's payout ratio is 34.04%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. TD Securities cut their target price on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a "buy" rating on the stock in a report on Wednesday, February 19th. Wall Street Zen cut shares of Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. Bank of America boosted their target price on shares of Agnico Eagle Mines from $119.00 to $142.00 and gave the stock a "buy" rating in a report on Tuesday, April 8th. UBS Group increased their target price on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, April 11th. Finally, Royal Bank of Canada increased their target price 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. Two analysts have rated the stock with a hold rating, seven have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $124.40.

Agnico Eagle Mines 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.