General American Investors Co. Inc. Sells 60,000 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

General American Investors Co. Inc. lessened its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 14.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 355,000 shares of the mining company's stock after selling 60,000 shares during the period. Agnico Eagle Mines accounts for 2.8% of General American Investors Co. Inc.'s holdings, making the stock its 11th biggest position. General American Investors Co. Inc. owned about 0.07% of Agnico Eagle Mines worth $38,486,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Private Trust Co. NA grew its holdings in shares of Agnico Eagle Mines by 454.9% during the 1st quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock worth $31,000 after purchasing an additional 232 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in Agnico Eagle Mines in the first quarter valued at about $34,000. Coppell Advisory Solutions LLC raised its position in Agnico Eagle Mines by 235.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 469 shares of the mining company's stock valued at $37,000 after purchasing an additional 329 shares during the last quarter. Hexagon Capital Partners LLC raised its position in Agnico Eagle Mines by 31.1% in the first quarter. Hexagon Capital Partners LLC now owns 367 shares of the mining company's stock valued at $40,000 after purchasing an additional 87 shares during the last quarter. Finally, Continuum Advisory LLC raised its position in Agnico Eagle Mines by 47.0% in the first quarter. Continuum Advisory LLC now owns 397 shares of the mining company's stock valued at $43,000 after purchasing an additional 127 shares during the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on AEM shares. Lake Street Capital reiterated a "buy" rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. Royal Bank Of Canada raised their price objective on Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Citigroup raised their price objective on Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a "buy" rating in a research report on Monday, March 31st. UBS Group raised their price objective on Agnico Eagle Mines from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. Finally, Scotiabank restated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines has an average rating of "Buy" and a consensus target price of $136.90.

Agnico Eagle Mines Stock Down 0.8%

Agnico Eagle Mines stock traded down $0.89 during mid-day trading on Friday, reaching $117.72. The stock had a trading volume of 1,872,910 shares, compared to its average volume of 2,610,092. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.20 and a current ratio of 2.37. Agnico Eagle Mines Limited has a fifty-two week low of $69.72 and a fifty-two week high of $126.76. The stock's 50-day simple moving average is $117.97 and its 200-day simple moving average is $106.68. The firm has a market capitalization of $59.19 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 0.89 and a beta of 0.50.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings data on Thursday, April 24th. The mining company reported $1.53 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.14. The firm had revenue of $2.38 billion during the quarter, compared to analysts' expectations of $2.27 billion. Agnico Eagle Mines had a return on equity of 12.09% and a net margin of 26.48%. The company's revenue for the quarter was up 34.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.76 earnings per share. On average, sell-side 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 announced a dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a dividend yield of 1.36%. Agnico Eagle Mines's payout ratio is 34.04%.

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.