Charles Schwab Investment Management Inc. Has $124.30 Million Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Agnico Eagle Mines by 2.1%, owning approximately 0.23% of the company, valued at $124.3 million after selling 25,185 shares in the first quarter.
• Agnico Eagle Mines achieved $1.94 earnings per share for the last quarter, exceeding analyst expectations of $1.83, alongside a revenue growth of 35.6% year-over-year to $2.86 billion.
• The company recently declared a dividend of $0.40 per share, representing a substantial dividend yield of 136.0% as of June 16th.

Charles Schwab Investment Management Inc. cut its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 2.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,147,445 shares of the mining company's stock after selling 25,185 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.23% of Agnico Eagle Mines worth $124,300,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AEM. Capital World Investors lifted its position in Agnico Eagle Mines by 41.9% in the 4th quarter. Capital World Investors now owns 13,952,061 shares of the mining company's stock valued at $1,091,550,000 after acquiring an additional 4,121,164 shares in the last quarter. TD Asset Management Inc lifted its holdings 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 buying an additional 2,709,005 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings 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. Raymond James Financial Inc. bought a new position in shares of Agnico Eagle Mines during the 4th quarter valued at $52,503,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Agnico Eagle Mines during the 4th quarter valued at $46,799,000. 68.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Bank of America increased their price target on Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a report on Monday, June 23rd. TD Securities upgraded Agnico Eagle Mines to a "strong-buy" rating in a research note on Thursday, July 17th. Royal Bank Of Canada raised their target price on shares of Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Lake Street Capital restated a "buy" rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. Finally, CIBC restated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, July 15th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $136.90.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock traded up $0.65 during midday trading on Friday, reaching $133.38. 1,397,164 shares of the stock traded hands, compared to its average volume of 2,968,548. 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 firm has a fifty day moving average price of $123.67 and a two-hundred day moving average price of $112.88. The firm has a market cap of $67.07 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 0.93 and a beta of 0.44. Agnico Eagle Mines Limited has a fifty-two week low of $75.17 and a fifty-two week high of $137.81.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share 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 company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same period in the prior year, the business posted $1.07 EPS. The business's revenue for the quarter was up 35.6% compared to the same quarter last year. On average, equities research analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

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

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.