Erste Asset Management GmbH Has $11.02 Million Position in Agnico Eagle Mines Limited $AEM

Key Points

• Erste Asset Management GmbH reduced its stake in Agnico Eagle Mines by 18.3%, now holding 103,130 shares worth approximately $11 million after selling 23,070 shares in the first quarter.
• Agnico Eagle Mines reported earnings per share (EPS) of $1.94 for the latest quarter, exceeding expectations and demonstrating a 35.6% increase in revenue compared to the same period last year.
• The company declared a dividend of $0.40 per share with a yield of 136.0%, and has a dividend payout ratio of 27.21%.

Erste Asset Management GmbH reduced its position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 18.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 103,130 shares of the mining company's stock after selling 23,070 shares during the period. Erste Asset Management GmbH's holdings in Agnico Eagle Mines were worth $11,024,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA increased its stake in 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 acquiring an additional 499,362 shares during the period. Deutsche Bank AG increased its stake in 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 acquiring an additional 87,410 shares during the period. TD Asset Management Inc increased its stake in 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 acquiring an additional 2,709,005 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Agnico Eagle Mines by 11.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company's stock worth $728,214,000 after acquiring an additional 673,400 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Agnico Eagle Mines by 10.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,977,395 shares of the mining company's stock worth $214,361,000 after acquiring an additional 189,935 shares during the period. Institutional investors own 68.34% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. National Bankshares restated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. Raymond James Financial upgraded Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price objective on the stock in a research note on Monday, June 30th. Bank of America raised their price objective on Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Royal Bank Of Canada lifted their price target 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. Finally, CIBC reiterated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. Five research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $136.90.

Agnico Eagle Mines Price Performance

AEM stock traded up $0.7570 during midday trading on Friday, reaching $137.0970. 2,872,881 shares of the stock were exchanged, compared to its average volume of 2,579,478. The stock has a market capitalization of $68.94 billion, a PE ratio of 23.32, a P/E/G ratio of 0.95 and a beta of 0.44. Agnico Eagle Mines Limited has a 52 week low of $75.17 and a 52 week high of $138.02. 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 company has a fifty day moving average price of $125.39 and a 200 day moving average price of $114.70.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.11. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.46 billion. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.Agnico Eagle Mines's quarterly revenue was up 35.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 EPS. As a group, analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

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.