Nkcfo LLC Cuts Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

Key Points

• Nkcfo LLC has reduced its stake in Agnico Eagle Mines by 3.5%, now holding approximately 318,633 shares, which make up about 16.1% of its portfolio.
• Capital World Investors has significantly increased its holdings in Agnico Eagle Mines by 41.9%, owning nearly 14 million shares valued at over $1 billion.
• Agnico Eagle Mines has received positive ratings from multiple analysts, with a consensus rating of "Buy" and an average target price of $136.90.

Nkcfo LLC decreased its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 3.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 318,633 shares of the mining company's stock after selling 11,500 shares during the quarter. Agnico Eagle Mines comprises 16.1% of Nkcfo LLC's investment portfolio, making the stock its largest holding. Nkcfo LLC owned 0.06% of Agnico Eagle Mines worth $34,543,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC lifted its holdings in Agnico Eagle Mines by 11.5% in the 4th quarter. Brighton Jones LLC now owns 3,216 shares of the mining company's stock worth $252,000 after purchasing an additional 331 shares during the last quarter. Prudential Financial Inc. lifted its holdings in Agnico Eagle Mines by 21.6% in the 4th quarter. Prudential Financial Inc. now owns 33,637 shares of the mining company's stock worth $2,630,000 after purchasing an additional 5,967 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in Agnico Eagle Mines by 11.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 267,501 shares of the mining company's stock worth $20,917,000 after purchasing an additional 26,758 shares during the last quarter. Orion Portfolio Solutions LLC lifted its holdings in Agnico Eagle Mines by 5.9% in the 4th quarter. Orion Portfolio Solutions LLC now owns 3,268 shares of the mining company's stock worth $256,000 after purchasing an additional 183 shares during the last quarter. Finally, Allianz SE acquired a new stake in Agnico Eagle Mines in the 4th quarter worth approximately $145,000. Institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Price Performance

Shares of AEM stock traded up $0.52 during trading hours on Thursday, hitting $123.89. 2,199,704 shares of the company's stock were exchanged, compared to its average volume of 2,991,771. The stock's 50-day moving average is $120.74 and its 200-day moving average is $109.38. The stock has a market cap of $62.29 billion, a price-to-earnings ratio of 26.38, a price-to-earnings-growth ratio of 0.91 and a beta of 0.50. Agnico Eagle Mines Limited has a 52 week low of $69.72 and a 52 week high of $129.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.37 and a quick ratio of 1.20.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.37. Agnico Eagle Mines had a return on equity of 12.09% and a net margin of 26.48%. The business had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.46 billion. During the same quarter last year, the business earned $1.07 earnings per share. The firm's quarterly revenue was up 35.6% compared to the same quarter last year. As a group, research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The business also recently announced a dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.40 per share. This represents a yield of 1.36%. The ex-dividend date of this dividend was Friday, May 30th. Agnico Eagle Mines's dividend payout ratio (DPR) is currently 34.04%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. UBS Group boosted their target price on Agnico Eagle Mines from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, April 11th. CIBC reiterated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. Scotiabank restated an "outperform" rating on shares of Agnico Eagle Mines in a report on Monday, April 14th. Raymond James Financial upgraded Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 target price for the company in a research note on Monday, June 30th. Finally, Cfra Research upgraded Agnico Eagle Mines to a "strong-buy" rating in a research note on Friday, April 25th. 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. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $136.90.

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.