Regal Partners Ltd Sells 21,476 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Key Points

• Regal Partners Ltd reduced its stake in Agnico Eagle Mines by 22.0%, owning 76,246 shares valued at approximately $8.27 million, making it the firm’s 21st largest position.
• Agnico Eagle Mines reported a Q2 EPS of $1.94, exceeding analyst estimates of $1.83, with a 35.6% increase in quarterly revenue year-over-year.
• Wall Street analysts generally have a consensus “Buy” rating for AEM, with an average price target of $136.90, reflecting positive market sentiment.

Regal Partners Ltd decreased its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 22.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,246 shares of the mining company's stock after selling 21,476 shares during the period. Agnico Eagle Mines comprises 0.8% of Regal Partners Ltd's portfolio, making the stock its 21st largest holding. Regal Partners Ltd's holdings in Agnico Eagle Mines were worth $8,266,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors raised its position in Agnico Eagle Mines by 41.9% during the fourth quarter. Capital World Investors now owns 13,952,061 shares of the mining company's stock worth $1,091,550,000 after acquiring an additional 4,121,164 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake 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 worth $1,457,160,000 after buying an additional 499,362 shares during the period. Deutsche Bank AG grew its stake 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 worth $932,008,000 after buying an additional 87,410 shares during the period. TD Asset Management Inc boosted its stake 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 valued at $978,553,000 after purchasing an additional 2,709,005 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Agnico Eagle Mines by 11.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company's stock valued at $728,214,000 after acquiring an additional 673,400 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company's stock.

Analyst Ratings Changes

AEM has been the topic of a number of research reports. Bank of America increased their target price on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. TD Securities upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Thursday, July 17th. Lake Street Capital restated a "buy" rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. National Bankshares restated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Finally, Raymond James Financial raised shares of Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 target price on the stock in a research report on Monday, June 30th. Two research 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. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $136.90.

Agnico Eagle Mines Stock Performance

Shares of AEM stock traded up $0.55 on Friday, hitting $133.28. 2,164,905 shares of the stock were exchanged, compared to its average volume of 2,973,512. 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 market capitalization of $67.02 billion, a PE ratio of 22.67, a P/E/G ratio of 0.93 and a beta of 0.44. Agnico Eagle Mines Limited has a one year low of $75.17 and a one year high of $137.81. The firm's 50 day moving average is $123.67 and its two-hundred day moving average is $112.88.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) 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 firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the prior year, the firm posted $1.07 earnings per share. The company's revenue for the quarter was up 35.6% on a year-over-year basis. Sell-side analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

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

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.