Gabelli Funds 13F: Cuts Agnico Eagle Mines (AEM) Stake by $5.6M

Gabelli Funds recently cut its position in Agnico Eagle Mines Limited (NYSE: AEM) by 17.7%, according to its latest Form 13F filing with the SEC. The fund sold 34,239 shares, reducing its holding to 159,600 shares valued at approximately $27.93 million as of the reporting period.

What Changed in Gabelli Funds' Agnico Eagle Mines Position

Gabelli Funds decreased its stake in Agnico Eagle Mines from 193,839 shares to 159,600 shares, a reduction of 34,239 shares or 17.7%. This move reflects a significant adjustment in the fund's portfolio, with the remaining shares valued at about $27.93 million.

Other Institutional Activity in Agnico Eagle Mines

Several other institutional investors also made notable changes to their Agnico Eagle Mines positions. Capital World Investors increased its holdings by 288,030 shares, totaling 21,626,307 shares worth $4.39 billion. Van Eck Associates Corp added 3,987,799 shares, bringing its total to 21,213,276 shares valued at $4.31 billion. In contrast, FMR LLC reduced its stake by 777,659 shares, ending with 19,577,184 shares valued at $3.97 billion. The Royal Bank of Canada also increased its position by 372,105 shares, holding 15,031,299 shares worth $3.05 billion.

Agnico Eagle Mines Limited Stock Down 17.4%

Shares of Agnico Eagle Mines (NYSE: AEM) traded near $175.03. The company has a market cap of approximately $85.91 billion, a P/E ratio of 16.18, and a forward P/E of 11.86. Its beta is 0.566, indicating lower volatility compared to the market. The stock's 52-week range is between $114.60 and $255.24, with a 50-day moving average of $188.96 and a 200-day moving average of $184.42. Agnico Eagle maintains a strong financial position with a current ratio of 3.15 and a quick ratio of 2.03.

Recent Earnings

Agnico Eagle Mines reported revenue of $13.54 billion, with a revenue growth rate of 66.1%. The company achieved a net margin of 39.5% and a return on equity of 22.3%. The next earnings report is scheduled for July 29, 2026.

Dividend

Agnico Eagle Mines offers an annual dividend rate of $1.80, yielding 1.05%. The dividend payout ratio stands at 15.54%, indicating a sustainable dividend policy.

Analysts Set New Price Targets

On May 26, 2026, CIBC maintained its 'buy' rating on Agnico Eagle Mines, setting a price target of $310. Barclays initiated coverage on May 22, 2026, with a 'buy' rating and a $213 price target. JP Morgan maintained a 'hold' rating with a $302 target on May 5, 2026. The consensus among analysts is a 'buy', with a mean price target of $249.60 based on 15 analyst opinions.

About Agnico Eagle Mines Limited

Agnico Eagle Mines Limited engages in the exploration, development, and production of precious metals, focusing primarily on gold. The company operates mines in Canada, Australia, Finland, and Mexico, with additional exploration activities in Europe and the United States. Headquartered in Toronto, Canada, Agnico Eagle was founded in 1953 and is led by CEO Ammar Al-Joundi.

Bottom Line

Gabelli Funds' reduction in Agnico Eagle Mines reflects a strategic portfolio adjustment. Investors keep a close watch on such filings to gauge market sentiment and fund strategies. It's important to remember that 13F filings are backward-looking and may not represent current positions.