King Luther Capital Management Corp Has $1.88 Million Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Key Points

• King Luther Capital Management Corp reduced its stake in Agnico Eagle Mines Limited by 11.1% in the first quarter, owning 17,372 shares valued at approximately $1.88 million.
• The company reported $1.94 earnings per share for the last quarter, exceeding analysts' expectations of $1.83 per share, with revenue increasing by 35.6% year-over-year.
• Agnico Eagle Mines recently declared a $0.40 dividend, with a yield of 136.0% and a dividend payout ratio of 27.21%.

King Luther Capital Management Corp trimmed its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 11.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,372 shares of the mining company's stock after selling 2,168 shares during the quarter. King Luther Capital Management Corp's holdings in Agnico Eagle Mines were worth $1,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Capital World Investors boosted its stake in Agnico Eagle Mines by 41.9% during the fourth quarter. Capital World Investors now owns 13,952,061 shares of the mining company's stock worth $1,091,550,000 after acquiring an additional 4,121,164 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of Agnico Eagle Mines by 42.8% during 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 during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Agnico Eagle Mines by 304.5% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 913,936 shares of the mining company's stock worth $71,465,000 after purchasing an additional 687,971 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings 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 worth $728,214,000 after purchasing an additional 673,400 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Agnico Eagle Mines during the 4th quarter worth $52,503,000. Institutional investors own 68.34% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Bank of America increased their price objective on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a report on Monday, June 23rd. TD Securities raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Thursday, July 17th. Cfra Research raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Friday, April 25th. Royal Bank Of Canada upped their price objective on shares of Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Finally, BMO Capital Markets began coverage on shares of Agnico Eagle Mines in a research note on Wednesday, April 16th. They set an "outperform" rating and a $181.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and five have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $136.90.

Agnico Eagle Mines Stock Down 0.7%

Shares of NYSE:AEM traded down $0.99 during midday trading on Thursday, hitting $132.70. The stock had a trading volume of 2,065,465 shares, compared to its average volume of 2,979,458. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. The business's 50-day simple moving average is $123.46 and its 200-day simple moving average is $112.59. Agnico Eagle Mines Limited has a 12 month low of $75.17 and a 12 month high of $137.81. The company has a market cap of $66.72 billion, a P/E ratio of 22.57, a PEG ratio of 0.93 and a beta of 0.44.

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 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.11. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period in the prior year, the firm posted $1.07 EPS. The company's revenue for the quarter was up 35.6% on a year-over-year basis. On average, sell-side analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The firm also recently declared a dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a $0.40 dividend. This represents a dividend yield of 136.0%. The ex-dividend date was Friday, May 30th. Agnico Eagle Mines's payout ratio is presently 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.