Groupe la Francaise Has $16.71 Million Stock Holdings in Agnico Eagle Mines Limited $AEM

Key Points

• Groupe la Francaise has increased its stake in Agnico Eagle Mines Limited by 8.9%, owning a total of 155,851 shares valued at approximately $16.7 million after purchasing an additional 12,691 shares.
• Agnico Eagle Mines reported a quarterly earnings per share of $1.94, surpassing estimates and showing a 35.6% year-over-year revenue growth.
• Several institutional investors also increased their investments, with TD Asset Management Inc. boosting its stake by 42.8%, now holding over 9 million shares worth nearly $979 million.

Groupe la Francaise grew its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 8.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 155,851 shares of the mining company's stock after purchasing an additional 12,691 shares during the period. Groupe la Francaise's holdings in Agnico Eagle Mines were worth $16,713,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AEM. Brighton Jones LLC raised its holdings in Agnico Eagle Mines by 11.5% in the 4th quarter. Brighton Jones LLC now owns 3,216 shares of the mining company's stock valued at $252,000 after acquiring an additional 331 shares in the last quarter. Marshall Wace LLP bought a new position in Agnico Eagle Mines in the fourth quarter worth $422,000. First Trust Advisors LP boosted its stake in Agnico Eagle Mines by 5.2% during the fourth quarter. First Trust Advisors LP now owns 169,101 shares of the mining company's stock worth $13,226,000 after buying an additional 8,394 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Agnico Eagle Mines by 147.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,828 shares of the mining company's stock worth $143,000 after buying an additional 1,089 shares in the last quarter. Finally, Hsbc Holdings PLC increased its holdings in Agnico Eagle Mines by 26.8% in the 4th quarter. Hsbc Holdings PLC now owns 627,559 shares of the mining company's stock valued at $49,048,000 after buying an additional 132,625 shares during the period. Institutional investors own 68.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AEM. CIBC reiterated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, July 15th. Royal Bank Of Canada raised their target price on Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Raymond James Financial upgraded Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price objective for the company in a research note on Monday, June 30th. National Bankshares restated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. Finally, TD Securities upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Thursday, July 17th. Five equities research 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. According to MarketBeat, Agnico Eagle Mines has a consensus rating of "Buy" and an average price target of $136.90.

Agnico Eagle Mines Price Performance

Shares of AEM traded down $0.14 during mid-day trading on Wednesday, hitting $139.53. 1,559,828 shares of the company traded hands, compared to its average volume of 2,929,566. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $70.16 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 0.94 and a beta of 0.44. The business has a 50-day moving average of $125.96 and a 200 day moving average of $115.25. Agnico Eagle Mines Limited has a one year low of $75.17 and a one year high of $139.80.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.11. The firm 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%.The business's quarterly revenue was up 35.6% compared to the same quarter last year. During the same period last year, the company earned $1.07 EPS. As a group, equities analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Monday, September 15th. Investors of record on Wednesday, September 3rd will be issued a $0.40 dividend. This represents a yield of 120.0%. The ex-dividend date is Tuesday, September 2nd. Agnico Eagle Mines's dividend payout ratio is currently 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.