Agnico Eagle Mines Limited (NYSE:AEM) Shares Acquired by Avalon Capital Management

Key Points

• Avalon Capital Management has increased its holdings in Agnico Eagle Mines Limited by 45.1%, now owning 14,581 shares valued at approximately $1.58 million.
• The company's quarterly earnings report showed earnings per share of $1.53, exceeding consensus estimates and marking a 34.9% year-over-year revenue increase.
• Agnico Eagle Mines recently declared a dividend of $0.40 per share, offering a yield of 1.36% to its shareholders.

Avalon Capital Management boosted its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 45.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,581 shares of the mining company's stock after purchasing an additional 4,530 shares during the quarter. Avalon Capital Management's holdings in Agnico Eagle Mines were worth $1,581,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital World Investors increased its position in 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 in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of 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 purchasing an additional 499,362 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Agnico Eagle Mines by 0.7% in 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 grew 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 buying an additional 2,709,005 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Agnico Eagle Mines by 81.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company's stock valued at $551,339,000 after buying an additional 3,155,927 shares during the period. Institutional investors and hedge funds own 68.34% of the company's stock.

Agnico Eagle Mines Stock Performance

Shares of NYSE AEM traded up $0.25 during midday trading on Thursday, hitting $123.62. 2,352,162 shares of the company's stock were exchanged, compared to its average volume of 2,993,105. Agnico Eagle Mines Limited has a twelve month low of $69.72 and a twelve month high of $129.77. The firm has a market cap of $62.16 billion, a P/E ratio of 26.32, a PEG ratio of 0.91 and a beta of 0.50. The stock's 50 day moving average price is $120.74 and its 200-day moving average price is $109.38. 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 data on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.37. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.46 billion. Agnico Eagle Mines had a net margin of 26.48% and a return on equity of 12.09%. The company's quarterly revenue was up 35.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.07 earnings per share. Equities 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 declared a dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a dividend of $0.40 per share. This represents a dividend yield of 1.36%. The ex-dividend date was Friday, May 30th. Agnico Eagle Mines's dividend payout ratio (DPR) is presently 34.04%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AEM. 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. Royal Bank Of Canada raised their target price on Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Lake Street Capital reiterated a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. BMO Capital Markets started coverage on Agnico Eagle Mines in a research note on Wednesday, April 16th. They set an "outperform" rating and a $181.00 price objective for the company. Finally, Bank of America increased 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. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price 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.