Agnico Eagle Mines Limited $AEM Stock Position Decreased by Prospector Partners LLC

Key Points

• Prospector Partners LLC reduced its position in Agnico Eagle Mines Limited by 4.2%, owning 57,023 shares valued at $6,182,000.
• Agnico Eagle Mines' stock has shown positive performance with a share price increase of 0.4% and a market cap of $67.02 billion.
• The company reported earnings of $1.94 EPS, exceeding expectations, and a revenue increase of 35.6% year-over-year, amounting to $2.86 billion.

Prospector Partners LLC lessened its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 4.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,023 shares of the mining company's stock after selling 2,521 shares during the period. Prospector Partners LLC's holdings in Agnico Eagle Mines were worth $6,182,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AEM. Capital World Investors increased its stake in shares of Agnico Eagle Mines by 41.9% in the fourth quarter. Capital World Investors now owns 13,952,061 shares of the mining company's stock worth $1,091,550,000 after buying an additional 4,121,164 shares during the last quarter. TD Asset Management Inc raised its position in shares of Agnico Eagle Mines by 42.8% during the 1st quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company's stock valued at $978,553,000 after acquiring an additional 2,709,005 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Agnico Eagle Mines during the 1st quarter valued at approximately $85,926,000. Caisse DE Depot ET Placement DU Quebec lifted its stake in Agnico Eagle Mines by 304.5% during 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. Finally, 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 period. Institutional investors own 68.34% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on AEM. National Bankshares reissued an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, June 24th. Bank of America raised their target price on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Cfra Research raised Agnico Eagle Mines to a "strong-buy" rating in a report on Friday, April 25th. Raymond James Financial raised Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 target price for the company in a report on Monday, June 30th. Finally, Royal Bank Of Canada boosted their price objective on Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Five research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Agnico Eagle Mines presently has an average rating of "Buy" and an average target price of $136.90.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock traded up $1.51 during trading hours on Thursday, hitting $136.20. 1,841,651 shares of the company traded hands, compared to its average volume of 2,950,266. The firm's 50-day simple moving average is $124.86 and its two-hundred day simple moving average is $114.02. The firm has a market cap of $68.48 billion, a P/E ratio of 23.16, a P/E/G ratio of 0.90 and a beta of 0.44. Agnico Eagle Mines Limited has a 1-year low of $75.17 and a 1-year high of $137.81. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, topping analysts' consensus estimates 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 business's revenue for the quarter was up 35.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.07 EPS. As a group, analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal 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 paid a dividend of $0.40 per share. This represents a yield of 136.0%. The ex-dividend date of this dividend was Friday, May 30th. Agnico Eagle Mines's dividend payout ratio (DPR) 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.