Varma Mutual Pension Insurance Co Sells 16,300 Shares of Agnico Eagle Mines Limited $AEM

Key Points

• Varma Mutual Pension reduced its stake in Agnico Eagle by 10.3%, selling 16,300 shares and leaving it with 141,252 shares valued at about $23.99 million at quarter-end.
• Agnico Eagle beat quarterly expectations with $3.40 EPS vs. $3.19 est. and $4.0 billion revenue (up 66.1% YoY), and announced a quarterly dividend of $0.45 ($1.80 annual, ~1.0% yield).
• Analysts hold a consensus rating of "Moderate Buy" with a $239.36 consensus target, though recent reports include both upgrades and downgrades (10 Buys vs. 5 Holds).

Varma Mutual Pension Insurance Co reduced its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 10.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 141,252 shares of the mining company's stock after selling 16,300 shares during the period. Varma Mutual Pension Insurance Co's holdings in Agnico Eagle Mines were worth $23,985,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Truist Financial Corp boosted its position in shares of Agnico Eagle Mines by 2.2% in the 4th quarter. Truist Financial Corp now owns 48,888 shares of the mining company's stock worth $8,288,000 after purchasing an additional 1,053 shares during the last quarter. SevenBridge Financial Group LLC boosted its position in shares of Agnico Eagle Mines by 13.8% in the 4th quarter. SevenBridge Financial Group LLC now owns 2,067 shares of the mining company's stock worth $350,000 after purchasing an additional 251 shares during the last quarter. Gibraltar Capital Management Inc. boosted its position in shares of Agnico Eagle Mines by 11.1% in the 4th quarter. Gibraltar Capital Management Inc. now owns 2,494 shares of the mining company's stock worth $423,000 after purchasing an additional 250 shares during the last quarter. Horizon Investments LLC boosted its position in shares of Agnico Eagle Mines by 2,737.9% in the 4th quarter. Horizon Investments LLC now owns 7,038 shares of the mining company's stock worth $1,193,000 after purchasing an additional 6,790 shares during the last quarter. Finally, Robertson Stephens Wealth Management LLC bought a new position in shares of Agnico Eagle Mines in the 4th quarter worth $224,000. 68.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wall Street Zen lowered Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research report on Saturday, April 11th. Scotiabank reissued an "outperform" rating and issued a $280.00 price target on shares of Agnico Eagle Mines in a report on Tuesday, February 17th. UBS Group decreased their price target on shares of Agnico Eagle Mines from $240.00 to $210.00 and set a "neutral" rating for the company in a report on Friday, March 27th. Erste Group Bank lowered shares of Agnico Eagle Mines from a "buy" rating to a "hold" rating in a report on Tuesday, March 24th. Finally, TD boosted their price target on shares of Agnico Eagle Mines from $251.00 to $252.00 and gave the company a "buy" rating in a report on Tuesday, April 21st. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of "Moderate Buy" and a consensus target price of $239.36.

Agnico Eagle Mines Trading Down 0.0%

AEM opened at $183.51 on Monday. The stock has a market capitalization of $91.86 billion, a P/E ratio of 17.25, a P/E/G ratio of 4.12 and a beta of 0.58. Agnico Eagle Mines Limited has a 12 month low of $103.38 and a 12 month high of $255.24. The firm's fifty day simple moving average is $211.77 and its 200 day simple moving average is $192.04. The company has a current ratio of 2.02, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, beating the consensus estimate of $3.19 by $0.21. The business had revenue of $4 billion for the quarter, compared to analysts' expectations of $3.96 billion. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.69%. The firm's revenue was up 66.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.53 EPS. As a group, research analysts anticipate that Agnico Eagle Mines Limited will post 12.91 EPS for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Monday, June 1st. Agnico Eagle Mines's payout ratio is currently 20.27%.

About Agnico Eagle Mines

Agnico Eagle Mines Limited NYSE: AEM is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.

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