Townsquare Capital LLC Lowers Position in Agnico Eagle Mines Limited (NYSE:AEM)

Key Points

• Townsquare Capital LLC reduced its stake in Agnico Eagle Mines Limited by 8.8%, resulting in ownership of 95,995 shares valued at $10.4 million.
• Several institutional investors, including Capital World Investors and TD Asset Management Inc, significantly increased their holdings in Agnico Eagle Mines, highlighting strong institutional interest.
• Agnico Eagle Mines reported a 35.6% year-over-year revenue increase for the last quarter, with earnings per share surpassing analyst expectations, demonstrating strong financial performance.

Townsquare Capital LLC cut its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 8.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,995 shares of the mining company's stock after selling 9,318 shares during the quarter. Townsquare Capital LLC's holdings in Agnico Eagle Mines were worth $10,407,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Agnico Eagle Mines during the first quarter worth $26,000. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Agnico Eagle Mines in the first quarter valued at about $26,000. Private Trust Co. NA grew its stake in Agnico Eagle Mines by 454.9% in the first quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock valued at $31,000 after purchasing an additional 232 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in Agnico Eagle Mines in the first quarter valued at about $34,000. Finally, Hexagon Capital Partners LLC grew its stake 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. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Trading Down 0.0%

NYSE:AEM traded down $0.06 during trading hours on Tuesday, hitting $135.40. The company had a trading volume of 1,936,868 shares, compared to its average volume of 2,983,786. 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 company has a 50-day moving average of $123.00 and a 200 day moving average of $112.28. The company has a market cap of $68.08 billion, a P/E ratio of 23.03, a P/E/G ratio of 0.94 and a beta of 0.44. Agnico Eagle Mines Limited has a 1 year low of $75.17 and a 1 year high of $137.81.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued 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 company had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $2.46 billion. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%. The firm's quarterly revenue was up 35.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.07 EPS. Sell-side analysts expect 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 announced a dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a $0.40 dividend. This represents a yield of 136.0%. The ex-dividend date was Friday, May 30th. Agnico Eagle Mines's dividend payout ratio is presently 27.21%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Bank of America lifted their target price on Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. BMO Capital Markets began coverage on Agnico Eagle Mines in a report on Wednesday, April 16th. They set an "outperform" rating and a $181.00 target price for the company. CIBC reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, July 15th. Lake Street Capital reissued a "buy" rating on shares of Agnico Eagle Mines in a report on Monday, June 23rd. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. Two investment 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. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $136.90.

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.