LGT Group Foundation Sells 118,725 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Key Points

• LGT Group Foundation has significantly reduced its stake in Agnico Eagle Mines Limited by 96.1%, selling 118,725 shares and retaining only 4,870 shares worth $528,000.
• Agnico Eagle Mines reported a quarterly earnings per share of $1.94, exceeding analysts' expectations, with a year-over-year revenue increase of 35.6% to $2.86 billion.
• The company recently announced a dividend of $0.40 per share, translating to a remarkable 136.0% dividend yield as of the last payment date.

LGT Group Foundation lessened its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 96.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,870 shares of the mining company's stock after selling 118,725 shares during the period. LGT Group Foundation's holdings in Agnico Eagle Mines were worth $528,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Capital World Investors grew its holdings in Agnico Eagle Mines by 41.9% in the 4th 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 during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Agnico Eagle Mines by 3.9% during the first 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 in the last quarter. Deutsche Bank AG boosted its stake in Agnico Eagle Mines by 0.7% during the fourth 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 in the last quarter. TD Asset Management Inc boosted its stake in 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 worth $978,553,000 after acquiring an additional 2,709,005 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Agnico Eagle Mines by 11.1% during 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 acquiring an additional 673,400 shares in the last quarter. Institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Stock Performance

NYSE AEM traded up $0.55 during trading hours on Friday, hitting $133.28. 2,164,905 shares of the company's stock traded hands, compared to its average volume of 2,973,512. The business's fifty day moving average price is $123.67 and its two-hundred day moving average price is $112.88. 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 firm has a market capitalization of $67.02 billion, a P/E ratio of 22.67, a P/E/G ratio of 0.93 and a beta of 0.44. Agnico Eagle Mines Limited has a 52 week low of $75.17 and a 52 week high of $137.81.

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 (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.11. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.46 billion. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The firm's quarterly revenue was up 35.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.07 earnings per share. Equities research analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The company also recently declared a dividend, which was paid on Monday, June 16th. Shareholders 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 dividend payout ratio is presently 27.21%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on AEM shares. Bank of America increased their target price 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. TD Securities raised Agnico Eagle Mines to a "strong-buy" rating in a research report on Thursday, July 17th. Cfra Research raised Agnico Eagle Mines to a "strong-buy" rating in a report on Friday, April 25th. National Bankshares restated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. Finally, Royal Bank Of Canada boosted their price target on Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Two 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. Based on data from MarketBeat, Agnico Eagle Mines presently has an average rating of "Buy" and a consensus target price of $136.90.

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.