Mediolanum International Funds Ltd Acquires 38,950 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Key Points

• Mediolanum International Funds Ltd significantly increased its stake in Agnico Eagle Mines Limited by 429.9% during the first quarter, owning 48,011 shares valued at over $5 million.
• Agnico Eagle Mines reported $1.53 EPS for the quarter, surpassing analysts’ estimates and showing a 34.9% year-over-year revenue growth.
• The company announced a $0.40 per share dividend, contributing to a dividend yield of 1.36% and maintaining a dividend payout ratio of 34.04%.

Mediolanum International Funds Ltd lifted its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 429.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,011 shares of the mining company's stock after buying an additional 38,950 shares during the quarter. Mediolanum International Funds Ltd's holdings in Agnico Eagle Mines were worth $5,170,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Capital World Investors raised its stake in shares of 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. Massachusetts Financial Services Co. MA raised its stake in shares of 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 raised its stake in shares of 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. Arrowstreet Capital Limited Partnership raised its stake in shares of Agnico Eagle Mines by 81.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company's stock worth $551,339,000 after acquiring an additional 3,155,927 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Agnico Eagle Mines by 33.2% in the fourth quarter. Geode Capital Management LLC now owns 3,006,646 shares of the mining company's stock worth $239,844,000 after buying an additional 749,932 shares during the period. 68.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AEM has been the topic of several analyst reports. National Bankshares reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. Cfra Research raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research note on Friday, April 25th. Royal Bank Of Canada lifted their target price on shares of Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Lake Street Capital reaffirmed a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. Finally, CIBC reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and five have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Agnico Eagle Mines presently has an average rating of "Buy" and a consensus target price of $136.90.

Agnico Eagle Mines Trading Up 0.8%

NYSE:AEM traded up $0.98 during trading hours on Thursday, hitting $124.35. The company had a trading volume of 2,029,413 shares, compared to its average volume of 2,990,570. The company has a market capitalization of $62.52 billion, a PE ratio of 26.54, a price-to-earnings-growth ratio of 0.91 and a beta of 0.50. The stock has a 50-day moving average price of $120.74 and a 200 day moving average price of $109.38. Agnico Eagle Mines Limited has a 52 week low of $69.72 and a 52 week high of $129.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.37 and a quick ratio of 1.20.

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 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.37. Agnico Eagle Mines had a net margin of 26.48% and a return on equity of 12.09%. The firm had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.46 billion. During the same quarter in the previous year, the business posted $1.07 EPS. The company's quarterly revenue was up 35.6% on a year-over-year basis. On average, equities research analysts predict 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 issued a dividend of $0.40 per share. This represents a dividend yield of 1.36%. The ex-dividend date was Friday, May 30th. Agnico Eagle Mines's dividend payout ratio (DPR) is presently 34.04%.

Agnico Eagle Mines Company 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.