Vestcor Inc Sells 2,300 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Key Points

• Vestcor Inc has reduced its stake in Agnico Eagle Mines Limited by 6.5%, now holding 32,915 shares valued at approximately $3.57 million.
• Agnico Eagle Mines reported a significant increase in quarterly revenue, reaching $2.86 billion and EPS of $1.94, surpassing estimates by $0.37.
• The company has announced a dividend of $0.40 per share, providing a yield of 1.36%, with a dividend payout ratio of 34.04%.

Vestcor Inc decreased its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 6.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,915 shares of the mining company's stock after selling 2,300 shares during the quarter. Vestcor Inc's holdings in Agnico Eagle Mines were worth $3,568,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Agnico Eagle Mines during the first quarter worth about $26,000. Private Trust Co. NA raised its position in Agnico Eagle Mines by 454.9% during the 1st quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock worth $31,000 after buying an additional 232 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in Agnico Eagle Mines during the 1st quarter worth approximately $34,000. Hexagon Capital Partners LLC lifted its stake in shares of Agnico Eagle Mines by 31.1% in the first quarter. Hexagon Capital Partners LLC now owns 367 shares of the mining company's stock valued at $40,000 after purchasing an additional 87 shares during the period. Finally, Continuum Advisory LLC boosted its position in Agnico Eagle Mines by 47.0% during the first quarter. Continuum Advisory LLC now owns 397 shares of the mining company's stock worth $43,000 after purchasing an additional 127 shares in the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Trading Up 0.7%

Shares of AEM stock traded up $0.85 during trading hours on Friday, reaching $125.21. The company had a trading volume of 3,799,236 shares, compared to its average volume of 2,426,875. The company has a 50 day moving average of $121.09 and a 200 day moving average of $109.95. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.20. The firm has a market cap of $62.96 billion, a price-to-earnings ratio of 21.29, a P/E/G ratio of 0.88 and a beta of 0.44. Agnico Eagle Mines Limited has a 1-year low of $69.72 and a 1-year high of $129.77.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $2.46 billion. During the same quarter in the prior year, the company earned $1.07 EPS. The firm's quarterly revenue was up 35.6% on a year-over-year basis. On average, equities research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The firm also recently declared 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 was Friday, May 30th. This represents a yield of 136.0%. Agnico Eagle Mines's dividend payout ratio (DPR) is presently 34.04%.

Wall Street Analyst Weigh In

A number of research firms recently commented on AEM. Scotiabank reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research note on Monday, April 14th. Lake Street Capital restated a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. CIBC restated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. Bank of America lifted their target price on Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Finally, Raymond James Financial upgraded Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price objective for the company in a research report on Monday, June 30th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $136.90.

Agnico Eagle Mines Company 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.