Rathbones Group PLC Sells 6,125 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Key Points

• Rathbones Group PLC has decreased its stake in Agnico Eagle Mines by 10.2%, holding 53,637 shares valued at approximately $5.81 million as of recent SEC filings.
• Agnico Eagle Mines has received recent upgrades from several analysts, including a price target increase to $173.00 by Bank of America, indicating a generally positive outlook on the stock.
• The company's latest quarterly earnings report showed a significant revenue increase of 35.6%, reaching $2.86 billion, and earnings per share of $1.94, exceeding analysts' expectations.

Rathbones Group PLC lowered its position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 10.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,637 shares of the mining company's stock after selling 6,125 shares during the quarter. Rathbones Group PLC's holdings in Agnico Eagle Mines were worth $5,811,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. DAVENPORT & Co LLC purchased a new stake in shares of Agnico Eagle Mines during the first quarter valued at $226,000. Bank of New York Mellon Corp lifted its holdings in shares of Agnico Eagle Mines by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 485,317 shares of the mining company's stock valued at $52,613,000 after purchasing an additional 5,717 shares during the last quarter. Private Trust Co. NA lifted its holdings in shares of Agnico Eagle Mines by 454.9% during the first quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock valued at $31,000 after purchasing an additional 232 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Agnico Eagle Mines during the first quarter valued at $34,000. Finally, Captrust Financial Advisors lifted its holdings in shares of Agnico Eagle Mines by 6.5% during the fourth quarter. Captrust Financial Advisors now owns 5,663 shares of the mining company's stock valued at $443,000 after purchasing an additional 347 shares during the last quarter. Institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Stock Performance

AEM stock traded up $0.55 during midday trading on Friday, hitting $133.28. The stock had a trading volume of 2,164,905 shares, compared to its average volume of 2,772,824. The firm has a market capitalization of $67.02 billion, a price-to-earnings ratio of 22.67, a P/E/G ratio of 0.92 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. The stock has a 50-day simple moving average of $123.98 and a 200 day simple moving average of $113.34. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its earnings results on Wednesday, July 30th. The mining company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.83 by $0.11. The firm had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $2.46 billion. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%. Agnico Eagle Mines's quarterly revenue was up 35.6% compared to the same quarter last year. During the same period last year, the business earned $1.07 earnings per share. As a group, equities research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

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

Wall Street Analyst Weigh In

AEM has been the subject of several research analyst reports. CIBC reissued an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. Lake Street Capital reissued a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. Cfra Research raised Agnico Eagle Mines to a "strong-buy" rating in a research note on Friday, April 25th. Bank of America increased their price objective 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. Finally, National Bankshares reissued an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. Two equities 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. According to MarketBeat.com, Agnico Eagle Mines presently has an average rating of "Buy" and an average target price of $136.90.

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.