Agnico Eagle Mines Limited $AEM Shares Sold by Gamco Investors INC. ET AL

Key Points

• Gamco Investors INC. ET AL has reduced its stake in Agnico Eagle Mines Limited by 13.6%, selling 7,544 shares during the first quarter, leaving them with 47,785 shares valued at approximately $5.18 million.
• Agnico Eagle Mines recently reported earnings per share of $1.94 for the quarter, exceeding analysts' expectations, with a revenue of $2.86 billion, showing a 35.6% increase from the same quarter last year.
• The company will pay a dividend of $0.40 per share on September 15th, with a remarkable yield of 120.0% based on its current payout ratio of 27.21%.

Gamco Investors INC. ET AL lessened its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 13.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 47,785 shares of the mining company's stock after selling 7,544 shares during the quarter. Gamco Investors INC. ET AL's holdings in Agnico Eagle Mines were worth $5,180,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AEM. MJT & Associates Financial Advisory Group Inc. acquired a new position in Agnico Eagle Mines in the first quarter valued at approximately $26,000. Cary Street Partners Investment Advisory LLC acquired a new position in Agnico Eagle Mines during the first quarter worth $26,000. Private Trust Co. NA increased its position in shares of Agnico Eagle Mines by 454.9% during the first quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock worth $31,000 after acquiring an additional 232 shares during the period. Golden State Wealth Management LLC purchased a new stake in shares of Agnico Eagle Mines during the first quarter worth $34,000. Finally, Dagco Inc. purchased a new stake in shares of Agnico Eagle Mines during the first quarter worth $39,000. Institutional investors and hedge funds own 68.34% of the company's stock.

Wall Street Analysts Forecast Growth

AEM has been the topic of several recent analyst reports. Lake Street Capital reissued a "buy" rating on shares of Agnico Eagle Mines in a report on Monday, June 23rd. National Bankshares reissued an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, June 24th. Royal Bank Of Canada increased their target price on Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. CIBC reissued an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, July 15th. Finally, Raymond James Financial raised Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price objective on the stock in a report on Monday, June 30th. Five analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $136.90.

Agnico Eagle Mines Stock Performance

Shares of AEM traded up $5.12 during mid-day trading on Monday, hitting $144.23. 2,801,181 shares of the company's stock were exchanged, compared to its average volume of 2,311,649. Agnico Eagle Mines Limited has a fifty-two week low of $75.17 and a fifty-two week high of $144.78. The firm has a market capitalization of $72.52 billion, a P/E ratio of 24.53, a P/E/G ratio of 0.99 and a beta of 0.44. The business's 50 day moving average is $127.10 and its two-hundred day moving average is $116.22. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03.

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 business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the prior year, the firm earned $1.07 earnings per share. The business's quarterly revenue was up 35.6% compared to the same quarter last year. On average, equities analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

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.