Credit Agricole S A Has $7.78 Million Holdings in Agnico Eagle Mines Limited $AEM

Key Points

• Credit Agricole S A increased its stake in Agnico Eagle Mines Limited by 112.9% during the 1st quarter, owning 71,797 shares valued at approximately $7.78 million.
• Agnico Eagle Mines reported a 35.6% year-over-year increase in revenue with a net margin of 30.63% and netted earnings per share of $1.94 for the last quarter.
• Analysts have a consensus buy rating for Agnico Eagle Mines and have set a price target of $136.90, with Royal Bank of Canada recently raising its target from $115 to $145.

Credit Agricole S A lifted its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 112.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,797 shares of the mining company's stock after buying an additional 38,070 shares during the period. Credit Agricole S A's holdings in Agnico Eagle Mines were worth $7,784,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TD Asset Management Inc grew its position in shares of Agnico Eagle Mines by 42.8% during the 1st quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company's stock valued at $978,553,000 after acquiring an additional 2,709,005 shares during the period. Nuveen LLC purchased a new position in Agnico Eagle Mines in the 1st quarter worth approximately $85,926,000. Caisse DE Depot ET Placement DU Quebec raised its position 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 valued at $71,465,000 after buying an additional 687,971 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Agnico Eagle Mines by 11.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company's stock valued at $728,214,000 after buying an additional 673,400 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Agnico Eagle Mines during the 4th quarter valued at approximately $46,799,000. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Down 0.8%

AEM stock traded down $1.18 during trading on Wednesday, reaching $138.49. The stock had a trading volume of 544,386 shares, compared to its average volume of 2,922,944. The company has a market capitalization of $69.63 billion, a P/E ratio of 23.57, a PEG ratio of 0.94 and a beta of 0.44. The firm has a fifty day moving average price of $125.96 and a 200 day moving average price of $115.25. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03. Agnico Eagle Mines Limited has a 1-year low of $75.17 and a 1-year high of $139.80.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.11. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.46 billion. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The company's revenue for the quarter was up 35.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.07 EPS. On average, equities analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a dividend, which will be paid on Monday, September 15th. Investors of record on Wednesday, September 3rd will be issued a dividend of $0.40 per share. This represents a yield of 120.0%. The ex-dividend date is Tuesday, September 2nd. Agnico Eagle Mines's dividend payout ratio (DPR) is presently 27.21%.

Analyst Upgrades and Downgrades

Several research firms have commented on AEM. TD Securities upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a research note on Thursday, July 17th. CIBC restated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. Bank of America increased 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 note on Monday, June 23rd. Royal Bank Of Canada raised their price objective on shares of Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Finally, National Bankshares restated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Five research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock 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.