Alberta Investment Management Corp Sells 8,377 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Key Points

• Alberta Investment Management Corp has reduced its stake in Agnico Eagle Mines Limited by selling 8,377 shares during the first quarter, now holding 2,089,224 shares, which represents about 1.5% of its investment portfolio.
• Agnico Eagle Mines reported a $1.94 EPS for the latest quarter, exceeding estimates, with a significant revenue increase of 35.6% year-over-year, totaling $2.86 billion.
• The company has declared a $0.40 dividend with a yield of 136.0%, and its dividend payout ratio stands at 34.04%.

Alberta Investment Management Corp trimmed its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 0.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,089,224 shares of the mining company's stock after selling 8,377 shares during the period. Agnico Eagle Mines accounts for about 1.5% of Alberta Investment Management Corp's investment portfolio, making the stock its 6th largest position. Alberta Investment Management Corp owned about 0.42% of Agnico Eagle Mines worth $226,320,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Capital World Investors boosted its stake 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 worth $1,091,550,000 after purchasing an additional 4,121,164 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Agnico Eagle Mines by 3.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 13,441,198 shares of the mining company's stock worth $1,457,160,000 after purchasing an additional 499,362 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Agnico Eagle Mines by 0.7% during the 4th quarter. Deutsche Bank AG now owns 11,916,739 shares of the mining company's stock worth $932,008,000 after purchasing an additional 87,410 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Agnico Eagle Mines by 42.8% during the 1st 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 last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Agnico Eagle Mines by 33.2% during the 4th quarter. Geode Capital Management LLC now owns 3,006,646 shares of the mining company's stock worth $239,844,000 after purchasing an additional 749,932 shares during the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Trading Up 0.7%

NYSE AEM opened at $124.20 on Friday. Agnico Eagle Mines Limited has a one year low of $69.72 and a one year high of $129.77. The company's 50 day moving average price is $120.94 and its 200 day moving average price is $109.67. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.20 and a current ratio of 2.37. The firm has a market capitalization of $62.45 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 0.87 and a beta of 0.50.

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 EPS for the quarter, beating the consensus estimate of $1.83 by $0.11. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 14.04%. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter last year, the firm posted $1.07 earnings per share. Agnico Eagle Mines's revenue for the quarter was up 35.6% compared to the same quarter last year. On average, sell-side analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The firm also recently declared a dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued 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 presently 34.04%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. National Bankshares reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. Raymond James Financial raised shares of Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price target for the company in a research report on Monday, June 30th. Cfra Research raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Friday, April 25th. Lake Street Capital reaffirmed a "buy" rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. Finally, UBS Group upped their price target on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. 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 company. According to MarketBeat, the stock presently has an average 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.

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