Agnico Eagle Mines Limited (NYSE:AEM) Stake Increased by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd significantly increased its holdings in Agnico Eagle Mines by 2,684.3%, owning 29,040 shares worth approximately $3.15 million after acquiring 27,997 shares in the first quarter.
• Several analysts have given Agnico Eagle Mines a consensus rating of "Buy" with price targets ranging from $136.90 to $181.00 following positive earnings results that beat consensus estimates.
• Agnico Eagle Mines recently declared a $0.40 dividend representing a remarkable 136.0% yield, with a payout ratio of 27.21% following a strong quarter where EPS increased significantly year-over-year.

Gulf International Bank UK Ltd increased its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 2,684.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,040 shares of the mining company's stock after acquiring an additional 27,997 shares during the period. Gulf International Bank UK Ltd's holdings in Agnico Eagle Mines were worth $3,148,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of AEM. Brighton Jones LLC boosted its position in shares of Agnico Eagle Mines by 11.5% in the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company's stock worth $252,000 after acquiring an additional 331 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter worth approximately $783,000. Mariner LLC boosted its position in shares of Agnico Eagle Mines by 15.9% in the fourth quarter. Mariner LLC now owns 45,024 shares of the mining company's stock worth $3,521,000 after acquiring an additional 6,171 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter worth approximately $1,335,000. Finally, Bridgewater Associates LP boosted its position in shares of Agnico Eagle Mines by 103.4% in the fourth quarter. Bridgewater Associates LP now owns 415,276 shares of the mining company's stock worth $32,479,000 after acquiring an additional 211,108 shares during the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Up 0.4%

Shares of NYSE AEM traded up $0.55 during trading on Friday, reaching $133.28. 2,164,905 shares of the stock were exchanged, compared to its average volume of 2,772,824. The business's 50-day moving average price is $123.98 and its 200 day moving average price is $113.34. Agnico Eagle Mines Limited has a twelve month low of $75.17 and a twelve month high of $137.81. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $67.02 billion, a price-to-earnings ratio of 22.67, a price-to-earnings-growth ratio of 0.92 and a beta of 0.44.

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

Agnico Eagle Mines Announces Dividend

The business also recently declared a dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a $0.40 dividend. This represents a dividend yield of 136.0%. The ex-dividend date was Friday, May 30th. Agnico Eagle Mines's payout ratio is 27.21%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AEM. TD Securities raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Thursday, July 17th. Bank of America lifted their price target on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Cfra Research raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Friday, April 25th. Raymond James Financial raised shares of Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price target on the stock in a research report on Monday, June 30th. Finally, Lake Street Capital reaffirmed a "buy" rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and five have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $136.90.

Agnico Eagle Mines Company 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.