Swiss National Bank Has $154.75 Million Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Key Points

• The Swiss National Bank has reduced its stake in Agnico Eagle Mines Limited by 2.0%, selling 28,800 shares in the first quarter, and currently holds 1,427,258 shares valued at approximately $154.7 million.
• Agnico Eagle Mines reported a quarterly EPS of $1.94, exceeding expectations and achieving revenue of $2.86 billion, a 35.6% increase year-over-year.
• The company has a consensus rating of "Buy" from analysts, with a current average price target of $136.90, and several investment firms have recently upgraded their price objectives for the stock.

Swiss National Bank lowered its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 2.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,427,258 shares of the mining company's stock after selling 28,800 shares during the quarter. Swiss National Bank owned about 0.28% of Agnico Eagle Mines worth $154,745,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in AEM. Maryland State Retirement & Pension System boosted its position in shares of Agnico Eagle Mines by 17.5% in the first quarter. Maryland State Retirement & Pension System now owns 131,861 shares of the mining company's stock valued at $14,283,000 after acquiring an additional 19,681 shares during the period. Ontario Teachers Pension Plan Board boosted its position in shares of Agnico Eagle Mines by 81.6% in the first quarter. Ontario Teachers Pension Plan Board now owns 31,020 shares of the mining company's stock valued at $3,361,000 after acquiring an additional 13,939 shares during the period. ASR Vermogensbeheer N.V. bought a new stake in shares of Agnico Eagle Mines in the first quarter valued at approximately $1,574,000. Legacy Capital Group California Inc. bought a new stake in shares of Agnico Eagle Mines in the first quarter valued at approximately $304,000. Finally, Wealthspire Advisors LLC bought a new stake in shares of Agnico Eagle Mines in the first quarter valued at approximately $289,000. Institutional investors own 68.34% of the company's stock.

Analyst Upgrades and Downgrades

AEM has been the subject of several research reports. Scotiabank reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research report on Monday, April 14th. Lake Street Capital reaffirmed a "buy" rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. TD Securities raised Agnico Eagle Mines to a "strong-buy" rating in a research report on Thursday, July 17th. Cfra Research raised Agnico Eagle Mines to a "strong-buy" rating in a research report on Friday, April 25th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $136.90.

Agnico Eagle Mines Stock Down 0.0%

Shares of NYSE:AEM traded down $0.06 during trading on Tuesday, hitting $135.40. 1,936,867 shares of the company were exchanged, compared to its average volume of 2,983,786. The stock has a market cap of $68.08 billion, a price-to-earnings ratio of 23.03, a P/E/G ratio of 0.94 and a beta of 0.44. Agnico Eagle Mines Limited has a fifty-two week low of $75.17 and a fifty-two week high of $137.81. The firm has a fifty day moving average price of $123.00 and a two-hundred day moving average price of $112.28. 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 posted its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.11. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the previous year, the firm earned $1.07 EPS. The business's quarterly revenue was up 35.6% on a year-over-year basis. As a group, research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal 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 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 136.0%. Agnico Eagle Mines's payout ratio is presently 27.21%.

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.