Agnico Eagle Mines Limited $AEM Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in Agnico Eagle Mines by 9.8%, owning 348,493 shares worth approximately $37.65 million after selling 37,887 shares in the first quarter.
• Agnico Eagle Mines reported record earnings of $1.94 per share for the last quarter, surpassing estimates and signifying a 35.6% increase in quarterly revenue year-over-year.
• The company recently announced a dividend of $0.40 per share, resulting in a dividend yield of 136.0%, with a payout ratio of 27.21%.

Russell Investments Group Ltd. cut its position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 9.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 348,493 shares of the mining company's stock after selling 37,887 shares during the period. Russell Investments Group Ltd. owned approximately 0.07% of Agnico Eagle Mines worth $37,653,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Capital World Investors raised its position in 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 valued at $1,091,550,000 after purchasing an additional 4,121,164 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Agnico Eagle Mines by 3.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 13,441,198 shares of the mining company's stock valued at $1,457,160,000 after buying an additional 499,362 shares in the last quarter. Deutsche Bank AG boosted its position in Agnico Eagle Mines by 0.7% in the 4th quarter. Deutsche Bank AG now owns 11,916,739 shares of the mining company's stock valued at $932,008,000 after buying an additional 87,410 shares during the period. TD Asset Management Inc raised its stake in shares of Agnico Eagle Mines by 42.8% in the first 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. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake 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 acquiring an additional 673,400 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on AEM. Royal Bank Of Canada upped their target price on shares of Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. TD Securities upgraded Agnico Eagle Mines to a "strong-buy" rating in a research report on Thursday, July 17th. Raymond James Financial upgraded Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price target on the stock in a research note on Monday, June 30th. Lake Street Capital restated a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. Finally, Cfra Research upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a research note on Friday, April 25th. Five analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Agnico Eagle Mines presently has a consensus rating of "Buy" and an average price target of $136.90.

Agnico Eagle Mines Stock Down 2.1%

Shares of NYSE:AEM traded down $2.8410 during mid-day trading on Tuesday, hitting $130.6690. 872,324 shares of the company traded hands, compared to its average volume of 2,950,622. The firm's 50 day simple moving average is $124.28 and its 200 day simple moving average is $113.76. Agnico Eagle Mines Limited has a 52-week low of $75.17 and a 52-week high of $137.81. 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 firm has a market cap of $65.70 billion, a P/E ratio of 22.26, a PEG ratio of 0.92 and a beta of 0.44.

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

Agnico Eagle Mines Dividend Announcement

The firm also recently declared a dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a dividend yield of 136.0%. Agnico Eagle Mines's payout ratio is 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.