Allianz Asset Management GmbH Sells 43,921 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Allianz Asset Management GmbH cut its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 7.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 509,155 shares of the mining company's stock after selling 43,921 shares during the quarter. Allianz Asset Management GmbH owned 0.10% of Agnico Eagle Mines worth $55,155,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Agnico Eagle Mines by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 19,865,285 shares of the mining company's stock valued at $1,554,180,000 after acquiring an additional 331,087 shares in the last quarter. Capital World Investors grew its holdings in Agnico Eagle Mines by 41.9% in the fourth 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 period. Massachusetts Financial Services Co. MA increased its stake in Agnico Eagle Mines by 3.9% in 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 raised its holdings in shares of 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 during the period. Finally, Norges Bank bought a new position in shares of Agnico Eagle Mines during the 4th quarter worth about $573,446,000. 68.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Scotiabank reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research report on Monday, April 14th. Bank of America boosted their price objective on Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Cfra Research raised Agnico Eagle Mines to a "strong-buy" rating in a research report on Friday, April 25th. National Bankshares reissued an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Finally, Raymond James Financial upgraded shares of Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price target for the company in a research note on Monday, June 30th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and five have issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $136.90.

Agnico Eagle Mines Stock Up 0.9%

AEM traded up $1.17 during mid-day trading on Friday, reaching $126.96. 3,436,973 shares of the stock were exchanged, compared to its average volume of 2,336,318. Agnico Eagle Mines Limited has a 1 year low of $69.72 and a 1 year high of $129.77. 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 stock has a market capitalization of $63.84 billion, a PE ratio of 27.01, a price-to-earnings-growth ratio of 0.91 and a beta of 0.50. The company has a 50 day moving average price of $120.00 and a two-hundred day moving average price of $108.71.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings results on Thursday, April 24th. The mining company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.14. Agnico Eagle Mines had a net margin of 26.48% and a return on equity of 12.09%. The business had revenue of $2.38 billion for the quarter, compared to analysts' expectations of $2.27 billion. During the same period in the previous year, the company earned $0.76 earnings per share. The firm's revenue for the quarter was up 34.9% compared to the same quarter last year. As a group, research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

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

Agnico Eagle Mines 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.