Dimensional Fund Advisors LP Acquires 189,935 Shares of Agnico Eagle Mines Limited $AEM

Key Points

• Dimensional Fund Advisors LP increased its stake in Agnico Eagle Mines by 10.6%, acquiring an additional 189,935 shares to hold a total of 1,977,395 shares valued at approximately $214.36 million.
• Agnico Eagle Mines reported a 35.6% year-over-year increase in revenue, reaching $2.86 billion for the most recent quarter, with an EPS of $1.94, surpassing analysts' expectations.
• The company announced a dividend of $0.40 per share with a yield of 136.0%, indicating a 27.21% dividend payout ratio.

Dimensional Fund Advisors LP raised its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 10.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,977,395 shares of the mining company's stock after buying an additional 189,935 shares during the quarter. Dimensional Fund Advisors LP owned about 0.39% of Agnico Eagle Mines worth $214,361,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA lifted 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 buying an additional 499,362 shares in the last quarter. Deutsche Bank AG lifted its stake in 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 valued at $932,008,000 after buying an additional 87,410 shares in the last quarter. TD Asset Management Inc lifted its stake in 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. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Agnico Eagle Mines by 11.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company's stock valued at $728,214,000 after buying an additional 673,400 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in Agnico Eagle Mines by 10.7% in the fourth quarter. Nuveen Asset Management LLC now owns 1,027,009 shares of the mining company's stock valued at $80,316,000 after buying an additional 99,148 shares in the last quarter. Institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Stock Performance

AEM stock traded up $0.7570 during midday trading on Friday, reaching $137.0970. 2,872,881 shares of the company were exchanged, compared to its average volume of 2,551,285. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16. The business has a 50-day moving average price of $125.39 and a two-hundred day moving average price of $114.81. Agnico Eagle Mines Limited has a one year low of $75.17 and a one year high of $138.02. The firm has a market capitalization of $68.94 billion, a price-to-earnings ratio of 23.32, a price-to-earnings-growth ratio of 0.95 and a beta of 0.44.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $2.46 billion. During the same period in the previous year, the business posted $1.07 earnings per share. The company's revenue for the quarter was up 35.6% compared to the same quarter last year. Equities research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. TD Securities upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a report on Thursday, July 17th. Royal Bank Of Canada boosted their target price on shares of Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. CIBC restated an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, July 15th. Lake Street Capital restated a "buy" rating on shares of Agnico Eagle Mines in a report on Monday, June 23rd. Finally, Bank of America boosted their target price on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Five analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $136.90.

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.