Employees Retirement System of Texas Purchases 1,690 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Employees Retirement System of Texas lifted its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 84,041 shares of the mining company’s stock after purchasing an additional 1,690 shares during the period. Employees Retirement System of Texas’ holdings in Agnico Eagle Mines were worth $65,730,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Van ECK Associates Corp boosted its position in Agnico Eagle Mines by 3.6% during the 4th quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company’s stock worth $1,745,858,000 after buying an additional 778,919 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Agnico Eagle Mines by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 19,865,285 shares of the mining company’s stock worth $1,554,180,000 after purchasing an additional 331,087 shares during the period. Norges Bank bought a new stake in shares of Agnico Eagle Mines in the fourth quarter worth $573,446,000. Arrowstreet Capital Limited Partnership increased its holdings in Agnico Eagle Mines by 81.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company’s stock valued at $551,339,000 after purchasing an additional 3,155,927 shares during the period. Finally, CIBC Asset Management Inc raised its position in Agnico Eagle Mines by 5.5% during the 4th quarter. CIBC Asset Management Inc now owns 6,383,024 shares of the mining company’s stock worth $499,956,000 after purchasing an additional 332,576 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AEM has been the topic of a number of analyst reports. StockNews.com lowered Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. National Bank Financial upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Friday, March 21st. Jefferies Financial Group upped their price objective on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Tuesday, January 7th. Stifel Canada upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, UBS Group lowered Agnico Eagle Mines from a “buy” rating to a “neutral” rating and upped their target price for the company from $100.00 to $110.00 in a research report on Monday, March 31st. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $108.00.

Agnico Eagle Mines Stock Down 8.3 %

Shares of NYSE:AEM opened at $99.45 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86. Agnico Eagle Mines Limited has a 52-week low of $60.15 and a 52-week high of $111.04. The business’s 50 day simple moving average is $99.77 and its two-hundred day simple moving average is $88.76. The firm has a market cap of $50.02 billion, a P/E ratio of 26.31, a PEG ratio of 0.66 and a beta of 0.87.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. As a group, research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.61%. Agnico Eagle Mines’s dividend payout ratio is presently 42.33%.

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.