BlueCrest Capital Management Ltd Invests $940,000 in Agnico Eagle Mines Ltd (AEM) Stock
BlueCrest Capital Management Ltd bought a new position in shares of Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) in the fourth quarter, HoldingsChannel reports. The firm bought 20,346 shares of the mining company’s stock, valued at approximately $940,000.
A number of other institutional investors also recently made changes to their positions in AEM. Pinebridge Investments L.P. bought a new stake in Agnico Eagle Mines during the third quarter worth approximately $170,000. US Bancorp DE lifted its holdings in shares of Agnico Eagle Mines by 35.2% during the fourth quarter. US Bancorp DE now owns 5,837 shares of the mining company’s stock worth $270,000 after buying an additional 1,521 shares during the last quarter. High Pointe Capital Management LLC lifted its holdings in shares of Agnico Eagle Mines by 29.0% during the fourth quarter. High Pointe Capital Management LLC now owns 6,270 shares of the mining company’s stock worth $290,000 after buying an additional 1,410 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Agnico Eagle Mines during the third quarter worth approximately $375,000. Finally, Virtu Financial LLC lifted its holdings in shares of Agnico Eagle Mines by 24.0% during the third quarter. Virtu Financial LLC now owns 8,857 shares of the mining company’s stock worth $400,000 after buying an additional 1,717 shares during the last quarter. 57.33% of the stock is owned by hedge funds and other institutional investors.
Agnico Eagle Mines Ltd (NYSE AEM) opened at $39.51 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.85 and a quick ratio of 2.70. The company has a market capitalization of $9,190.00, a price-to-earnings ratio of 37.63, a P/E/G ratio of 60.56 and a beta of -0.35. Agnico Eagle Mines Ltd has a 12 month low of $37.35 and a 12 month high of $51.86.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 22nd will be paid a $0.11 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.11%. Agnico Eagle Mines’s payout ratio is 41.90%.
AEM has been the subject of a number of research analyst reports. Credit Suisse Group reiterated a “buy” rating and set a $62.00 price target (up from $59.00) on shares of Agnico Eagle Mines in a report on Friday, December 22nd. TD Securities upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating and cut their price target for the stock from $55.00 to $53.00 in a report on Wednesday, February 28th. GMP Securities lowered Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Citigroup set a $41.00 price target on Agnico Eagle Mines and gave the stock a “hold” rating in a report on Thursday, March 1st. Finally, CSFB upped their price target on Agnico Eagle Mines from $59.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, December 28th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $55.90.
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Agnico Eagle Mines Company Profile
Agnico Eagle Mines Ltd is a Canada-based gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut, as well as exploration activities in Canada, Europe, Latin America and the United States. It operates through the business units: Northern Business, which consists of its operations in Canada and Finland, such as the LaRonde mine, the Lapa mine, the Goldex mine, the Meadowbank mine, the Meliadine project and the Malartic Mine in Canada, as well as the Kittila mine in Finland; Southern Business, which consists of its operations in Mexico, such as the Pinos Altos mine that includes the Creston Mascota deposit and the La India mine owned by its indirect subsidiary, as well as Exploration Group, which focuses on the identification of new mineral reserves and mineral resources, and new development opportunities in gold producing regions.
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