J. Safra Sarasin Holding AG Acquires 4,353 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Key Points

• J. Safra Sarasin Holding AG increased its stake in Agnico Eagle Mines Limited by 29.3% during the first quarter, now holding a total of 19,200 shares valued at over $2 million.
• Agnico Eagle Mines reported earnings of $1.94 per share, surpassing estimates, with a revenue of $2.86 billion for the quarter, reflecting a year-over-year revenue growth of 35.6%.
• The company also declared a dividend of $0.40 per share with a remarkable yield of 136.0%, paid to shareholders on June 16th.

J. Safra Sarasin Holding AG raised its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 29.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,200 shares of the mining company's stock after buying an additional 4,353 shares during the period. J. Safra Sarasin Holding AG's holdings in Agnico Eagle Mines were worth $2,081,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AEM. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Agnico Eagle Mines in the first quarter valued at approximately $26,000. Private Trust Co. NA lifted its position in Agnico Eagle Mines by 454.9% in the 1st quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock worth $31,000 after buying an additional 232 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Agnico Eagle Mines during the 1st quarter valued at $34,000. Coppell Advisory Solutions LLC boosted its stake in shares of Agnico Eagle Mines by 235.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 469 shares of the mining company's stock valued at $37,000 after buying an additional 329 shares during the period. Finally, Hexagon Capital Partners LLC increased its position in Agnico Eagle Mines by 31.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 367 shares of the mining company's stock worth $40,000 after purchasing an additional 87 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Trading Up 1.0%

NYSE:AEM traded up $1.29 during mid-day trading on Tuesday, hitting $132.68. 1,094,621 shares of the company's stock were exchanged, compared to its average volume of 2,994,073. The firm has a market capitalization of $66.71 billion, a P/E ratio of 22.52, a PEG ratio of 0.88 and a beta of 0.44. Agnico Eagle Mines Limited has a fifty-two week low of $71.93 and a fifty-two week high of $133.83. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03. The company has a 50 day simple moving average of $121.36 and a 200-day simple moving average of $110.63.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released 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 company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.46 billion. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. Agnico Eagle Mines's quarterly revenue was up 35.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.07 EPS. As a group, research analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Cfra Research raised Agnico Eagle Mines to a "strong-buy" rating in a research note on Friday, April 25th. Raymond James Financial upgraded shares of Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price target on the stock in a report on Monday, June 30th. Scotiabank reiterated an "outperform" rating on shares of Agnico Eagle Mines in a report on Monday, April 14th. National Bankshares reiterated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Finally, Royal Bank Of Canada raised their price target on shares of Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price 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.