Agnico Eagle Mines Limited (NYSE:AEM) Shares Sold by Ruffer LLP

Key Points

• Ruffer LLP has significantly reduced its stake in Agnico Eagle Mines Limited by 65.8%, selling 175,030 shares and now holding 90,897 shares valued at approximately $9.85 million.
• Research analysts are optimistic about Agnico Eagle Mines, with several upgrades including a "strong-buy" rating from TD Securities, and an average target price of $136.90.
• The company reported impressive quarterly earnings, with a 35.6% year-over-year revenue increase to $2.86 billion and an EPS of $1.94, exceeding expectations.

Ruffer LLP trimmed its position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 65.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 90,897 shares of the mining company's stock after selling 175,030 shares during the quarter. Ruffer LLP's holdings in Agnico Eagle Mines were worth $9,854,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in AEM. 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 valued at $1,091,550,000 after buying an additional 4,121,164 shares in the last quarter. TD Asset Management Inc grew its holdings in Agnico Eagle Mines by 42.8% in 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 buying an additional 2,709,005 shares in the last quarter. Geode Capital Management LLC grew its holdings in Agnico Eagle Mines by 33.2% in the 4th quarter. Geode Capital Management LLC now owns 3,006,646 shares of the mining company's stock valued at $239,844,000 after buying an additional 749,932 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in Agnico Eagle Mines by 304.5% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 913,936 shares of the mining company's stock valued at $71,465,000 after buying an additional 687,971 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Agnico Eagle Mines in the 4th quarter valued at $52,503,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Up 0.3%

AEM stock traded up $0.35 during mid-day trading on Thursday, reaching $135.77. The company had a trading volume of 2,183,648 shares, compared to its average volume of 3,000,848. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03. The company has a market capitalization of $68.26 billion, a price-to-earnings ratio of 23.09, a price-to-earnings-growth ratio of 0.93 and a beta of 0.44. The firm has a fifty day simple moving average of $122.08 and a 200 day simple moving average of $110.97. Agnico Eagle Mines Limited has a fifty-two week low of $71.93 and a fifty-two week high of $137.19.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.11. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 35.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.07 EPS. Analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The firm also recently announced a dividend, which was paid on Monday, June 16th. Stockholders 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 of this dividend 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 a number of research analyst reports. Cfra Research upgraded Agnico Eagle Mines to a "strong-buy" rating in a report on Friday, April 25th. Lake Street Capital reiterated a "buy" rating on shares of Agnico Eagle Mines in a report on Monday, June 23rd. TD Securities upgraded Agnico Eagle Mines to a "strong-buy" rating in a report on Thursday, July 17th. Bank of America increased their price target on Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Finally, CIBC reiterated an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, July 15th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price 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.