Agnico Eagle Mines Limited (NYSE:AEM) Holdings Decreased by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management Ltd. reduced its holdings in Agnico Eagle Mines by 29.2%, selling 176,235 shares, and now owns 428,049 shares valued at approximately $46.37 million.
• Agnico Eagle Mines reported a 35.6% increase in revenue year-over-year for the most recent quarter, totaling $2.86 billion, along with earnings per share of $1.94 that surpassed estimates.
• The company announced a dividend of $0.40 per share with a payout ratio of 34.04%, reflecting a dividend yield of 136.0%.

Jupiter Asset Management Ltd. cut its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 29.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 428,049 shares of the mining company's stock after selling 176,235 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.09% of Agnico Eagle Mines worth $46,369,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AEM. DAVENPORT & Co LLC acquired a new position in Agnico Eagle Mines in the 1st quarter valued at about $226,000. Bank of New York Mellon Corp grew its position 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 acquiring an additional 5,717 shares in the last quarter. Private Trust Co. NA grew its position 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 acquiring an additional 232 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in Agnico Eagle Mines in the 1st quarter valued at about $34,000. Finally, Captrust Financial Advisors grew its position 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 acquiring an additional 347 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company's stock.

Analyst Upgrades and Downgrades

AEM has been the subject of several analyst reports. Lake Street Capital reissued a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. Raymond James Financial raised shares of Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 target price on the stock in a research report on Monday, June 30th. Scotiabank reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a report on Monday, April 14th. TD Securities raised Agnico Eagle Mines to a "strong-buy" rating in a research report on Thursday, July 17th. Finally, BMO Capital Markets began coverage on shares of Agnico Eagle Mines in a report on Wednesday, April 16th. They issued an "outperform" rating and a $181.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Agnico Eagle Mines currently has a consensus rating of "Buy" and an average target price of $136.90.

Agnico Eagle Mines Stock Performance

Shares of AEM stock traded up $0.90 during trading hours 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 company's 50 day moving average is $121.73 and its two-hundred day moving average is $110.80. The company has a market cap of $68.11 billion, a P/E ratio of 23.04, a price-to-earnings-growth ratio of 0.91 and a beta of 0.44. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16. Agnico Eagle Mines Limited has a 1 year low of $71.93 and a 1 year high of $135.97.

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 earnings per share for the quarter, beating the consensus estimate 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%. The company's revenue was up 35.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.07 EPS. Equities research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.40 per share. The ex-dividend date was Friday, May 30th. This represents a dividend yield of 136.0%. Agnico Eagle Mines's dividend payout ratio (DPR) is currently 27.21%.

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.