Agnico Eagle Mines Limited (NYSE:AEM) Shares Sold by Barings LLC

Key Points

• Barings LLC reduced its holdings in Agnico Eagle Mines by 24.2%, now owning 67,590 shares worth approximately $7.32 million.
• Several other hedge funds have increased their stakes in Agnico Eagle Mines, with notable increases by Hexagon Capital Partners LLC at 31.1% and MassMutual Private Wealth & Trust FSB at 19.3%.
• Agnico Eagle Mines reported earnings of $1.94 per share, exceeding expectations, alongside a revenue increase of 35.6% year-over-year for its most recent quarter.

Barings LLC lessened its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 24.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,590 shares of the mining company's stock after selling 21,575 shares during the period. Barings LLC's holdings in Agnico Eagle Mines were worth $7,324,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. DAVENPORT & Co LLC purchased a new position in Agnico Eagle Mines in the 1st quarter valued at $226,000. Bank of New York Mellon Corp lifted its holdings in Agnico Eagle Mines by 1.2% in the 1st quarter. Bank of New York Mellon Corp now owns 485,317 shares of the mining company's stock valued at $52,613,000 after purchasing an additional 5,717 shares in the last quarter. Private Trust Co. NA lifted its holdings in Agnico Eagle Mines by 454.9% in the 1st 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 in the last quarter. Golden State Wealth Management LLC purchased a new position in Agnico Eagle Mines in the 1st quarter valued at $34,000. Finally, Captrust Financial Advisors lifted its holdings in Agnico Eagle Mines by 6.5% in the 4th quarter. Captrust Financial Advisors now owns 5,663 shares of the mining company's stock valued at $443,000 after purchasing an additional 347 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AEM shares. Lake Street Capital reissued a "buy" rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. 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 note on Monday, June 30th. Scotiabank restated an "outperform" rating on shares of Agnico Eagle Mines in a report on Monday, April 14th. Bank of America upped 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. Finally, BMO Capital Markets began coverage on Agnico Eagle Mines in a research report on Wednesday, April 16th. They issued an "outperform" rating and a $181.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $136.90.

Agnico Eagle Mines Trading Up 0.7%

NYSE:AEM traded up $0.90 on Wednesday, reaching $135.45. 1,848,320 shares of the company's stock were exchanged, compared to its average volume of 3,001,990. The firm has a market capitalization of $68.11 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 0.91 and a beta of 0.44. Agnico Eagle Mines Limited has a 52-week low of $71.93 and a 52-week high of $135.97. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. The business has a fifty day moving average of $121.73 and a 200-day moving average of $110.80.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, topping 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 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 earned $1.07 EPS. The firm's revenue for the quarter was up 35.6% on a year-over-year basis. As a group, 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 disclosed a dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $0.40 dividend. This represents a dividend yield of 136.0%. The ex-dividend date was Friday, May 30th. Agnico Eagle Mines's dividend payout ratio (DPR) is presently 27.21%.

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.