Skandinaviska Enskilda Banken AB publ Boosts Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Key Points

• Skandinaviska Enskilda Banken AB increased its stake in Agnico Eagle Mines Limited by 7.4%, holding 72,322 shares valued at approximately $7,840,000 as of the first quarter.
• Agnico Eagle Mines reported an earnings per share (EPS) of $1.53 for the quarter, surpassing analysts' estimates of $1.39, with revenues up 34.9% year-over-year.
• The company recently announced a $0.40 per share dividend, yielding 1.36%, with a payout ratio of 34.04%.

Skandinaviska Enskilda Banken AB publ grew its position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 7.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,322 shares of the mining company's stock after purchasing an additional 5,000 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Agnico Eagle Mines were worth $7,840,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AEM. Brighton Jones LLC lifted its stake in Agnico Eagle Mines by 11.5% during the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company's stock worth $252,000 after purchasing an additional 331 shares during the last quarter. Prudential Financial Inc. lifted its stake in Agnico Eagle Mines by 21.6% during the fourth quarter. Prudential Financial Inc. now owns 33,637 shares of the mining company's stock worth $2,630,000 after purchasing an additional 5,967 shares during the last quarter. Norges Bank bought a new stake in Agnico Eagle Mines during the fourth quarter worth about $573,446,000. Pictet Asset Management Holding SA lifted its stake in Agnico Eagle Mines by 11.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 267,501 shares of the mining company's stock worth $20,917,000 after purchasing an additional 26,758 shares during the last quarter. Finally, Orion Portfolio Solutions LLC increased its holdings in shares of Agnico Eagle Mines by 5.9% in the fourth quarter. Orion Portfolio Solutions LLC now owns 3,268 shares of the mining company's stock worth $256,000 after buying an additional 183 shares during the period. Institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Trading Up 0.9%

NYSE:AEM traded up $1.17 during mid-day trading on Friday, reaching $126.96. 3,436,973 shares of the company's stock traded hands, compared to its average volume of 2,262,097. Agnico Eagle Mines Limited has a 12-month low of $69.72 and a 12-month high of $129.77. The firm has a market capitalization of $63.84 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 0.91 and a beta of 0.50. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.37 and a quick ratio of 1.20. The company has a 50 day moving average price of $120.00 and a 200-day moving average price of $108.89.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings results on Thursday, April 24th. The mining company reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.14. Agnico Eagle Mines had a return on equity of 12.09% and a net margin of 26.48%. The company had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the previous year, the business earned $0.76 EPS. Agnico Eagle Mines's revenue was up 34.9% compared to the same quarter last year. On average, sell-side analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Announces Dividend

The company also recently announced a dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a dividend yield of 1.36%. Agnico Eagle Mines's dividend payout ratio (DPR) is 34.04%.

Analyst Upgrades and Downgrades

AEM has been the topic of several analyst reports. BMO Capital Markets initiated coverage on Agnico Eagle Mines in a report on Wednesday, April 16th. They issued an "outperform" rating and a $181.00 price objective on the stock. National Bankshares reiterated an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, June 24th. Royal Bank Of Canada lifted their price objective on Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Scotiabank reiterated an "outperform" rating on shares of Agnico Eagle Mines in a report on Monday, April 14th. Finally, Citigroup lifted their price objective on Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a "buy" rating in a report on Monday, March 31st. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and five have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently 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.