Global View Capital Management LLC Sells 6,237 Shares of Agnico Eagle Mines Limited $AEM

Key Points

• Global View Capital Management LLC reduced its holdings in Agnico Eagle Mines by 58%, holding 4,525 shares valued at $491,000 after the sale.
• Agnico Eagle Mines has received favorable ratings from multiple analysts, including upgrades to "strong-buy" from TD Securities and Cfra Research, with a consensus price target of $136.90.
• The company reported earnings of $1.94 per share for its latest quarter, exceeding estimates, and announced a dividend of $0.40 per share with a yield of 136.0%.

Global View Capital Management LLC cut its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 58.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,525 shares of the mining company's stock after selling 6,237 shares during the period. Global View Capital Management LLC's holdings in Agnico Eagle Mines were worth $491,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of AEM. Capital World Investors lifted its position in shares of Agnico Eagle Mines by 41.9% during 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 buying an additional 4,121,164 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Agnico Eagle Mines by 3.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 13,441,198 shares of the mining company's stock valued at $1,457,160,000 after purchasing an additional 499,362 shares in the last quarter. Deutsche Bank AG lifted its holdings in Agnico Eagle Mines by 0.7% during the fourth quarter. Deutsche Bank AG now owns 11,916,739 shares of the mining company's stock valued at $932,008,000 after purchasing an additional 87,410 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Agnico Eagle Mines by 42.8% in the first quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company's stock worth $978,553,000 after purchasing an additional 2,709,005 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Agnico Eagle Mines by 11.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company's stock worth $728,214,000 after purchasing an additional 673,400 shares in the last quarter. Institutional investors own 68.34% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AEM. Raymond James Financial upgraded shares of Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 target price on the stock in a research note on Monday, June 30th. National Bankshares restated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Royal Bank Of Canada upped their price objective on Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Bank of America increased their target price on Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Finally, Lake Street Capital reissued a "buy" rating on shares of Agnico Eagle Mines in a report on Monday, June 23rd. Five research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $136.90.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock traded up $4.4020 during mid-day trading on Wednesday, reaching $134.6320. 2,609,722 shares of the company's stock traded hands, compared to its average volume of 2,957,286. Agnico Eagle Mines Limited has a 12-month low of $75.17 and a 12-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 stock has a 50 day moving average of $124.54 and a two-hundred day moving average of $113.87. The company has a market cap of $67.70 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 0.92 and a beta of 0.44.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.11. The firm had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.46 billion. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The business's revenue was up 35.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.07 EPS. Equities analysts forecast 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 given a $0.40 dividend. The ex-dividend date was Friday, May 30th. This represents a yield of 136.0%. Agnico Eagle Mines's dividend payout ratio (DPR) 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.