Agnico Eagle Mines Limited (NYSE:AEM) Shares Purchased by Ontario Teachers Pension Plan Board

Key Points

• Ontario Teachers Pension Plan Board increased its stake in Agnico Eagle Mines Limited by 81.6%, acquiring an additional 13,939 shares, bringing their total holdings to 31,020 shares, valued at approximately $3.36 million.
• Agnico Eagle Mines reported earnings of $1.94 per share for the last quarter, exceeding analyst expectations of $1.83, with quarterly revenue reaching $2.86 billion, a 35.6% year-over-year increase.
• The company recently declared a dividend of $0.40 per share, with a payout ratio of 27.21% and a current dividend yield of 136.0%.

Ontario Teachers Pension Plan Board increased its position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 81.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,020 shares of the mining company's stock after purchasing an additional 13,939 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Agnico Eagle Mines were worth $3,361,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Capital World Investors increased its position 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 purchasing an additional 4,121,164 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position 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 purchasing an additional 499,362 shares in the last quarter. Deutsche Bank AG increased its position 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 purchasing an additional 87,410 shares in the last quarter. TD Asset Management Inc increased its position 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 worth $978,553,000 after purchasing an additional 2,709,005 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of Agnico Eagle Mines by 10.7% during the fourth quarter. Nuveen Asset Management LLC now owns 1,027,009 shares of the mining company's stock worth $80,316,000 after purchasing an additional 99,148 shares in the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Trading Down 0.1%

Shares of Agnico Eagle Mines stock traded down $0.12 during trading hours on Friday, hitting $135.66. The company's stock had a trading volume of 2,239,790 shares, compared to its average volume of 2,703,854. Agnico Eagle Mines Limited has a twelve month low of $72.78 and a twelve month high of $137.81. The firm has a fifty day moving average of $122.78 and a 200-day moving average of $111.64. The stock has a market cap of $68.21 billion, a price-to-earnings ratio of 23.07, a P/E/G ratio of 0.94 and a beta of 0.44. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 EPS for the quarter, beating the consensus estimate 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 business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the prior year, the company posted $1.07 EPS. The company's quarterly revenue was up 35.6% on a year-over-year basis. Research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AEM shares. Royal Bank Of Canada boosted their price objective 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. Scotiabank reissued an "outperform" rating on shares of Agnico Eagle Mines in a research note on Monday, April 14th. TD Securities raised Agnico Eagle Mines to a "strong-buy" rating in a research note on Thursday, July 17th. Lake Street Capital reissued a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. Finally, Raymond James Financial raised Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price objective on the stock in a research note on Monday, June 30th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and five have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of "Buy" and an average price target of $136.90.

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.