Wealthspire Advisors LLC Takes $289,000 Position in Agnico Eagle Mines Limited (NYSE:AEM)

Key Points

• Wealthspire Advisors LLC acquired 2,669 shares of Agnico Eagle Mines Limited, valued at approximately $289,000, in the first quarter of 2023.
• Agnico Eagle Mines reported a quarterly earnings per share (EPS) of $1.94, exceeding expectations and marking a 35.6% increase in revenue compared to the same quarter last year.
• The company declared a dividend of $0.40 per share, representing a yield of 136.0%, with a payout ratio of 27.21%.

Wealthspire Advisors LLC purchased a new stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM during the first quarter, according to its most recent filing with the SEC. The firm purchased 2,669 shares of the mining company's stock, valued at approximately $289,000.

Other hedge funds have also modified their holdings of the company. West Michigan Advisors LLC acquired a new stake in shares of Agnico Eagle Mines in the first quarter valued at approximately $360,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Agnico Eagle Mines in the first quarter valued at approximately $55,000. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Agnico Eagle Mines in the first quarter valued at approximately $26,000. Cary Street Partners Financial LLC acquired a new stake in shares of Agnico Eagle Mines in the first quarter valued at approximately $257,000. Finally, Earned Wealth Advisors LLC raised its holdings in shares of Agnico Eagle Mines by 24.4% in the first quarter. Earned Wealth Advisors LLC now owns 3,258 shares of the mining company's stock valued at $353,000 after purchasing an additional 639 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Cfra Research upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a report on Friday, April 25th. National Bankshares reissued an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. Raymond James Financial raised shares of Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 target price for the company in a research note on Monday, June 30th. Scotiabank reissued an "outperform" rating on shares of Agnico Eagle Mines in a research note on Monday, April 14th. Finally, CIBC reissued an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $136.90.

Agnico Eagle Mines Stock Performance

AEM stock traded down $0.06 during midday trading on Tuesday, reaching $135.40. 1,936,822 shares of the company were exchanged, compared to its average volume of 2,983,646. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16. The business has a 50-day moving average price of $123.00 and a two-hundred day moving average price of $112.28. Agnico Eagle Mines Limited has a one year low of $75.17 and a one year high of $137.81. The firm has a market capitalization of $68.08 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 0.94 and a beta of 0.44.

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, topping analysts' consensus estimates of $1.83 by $0.11. The firm had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $2.46 billion. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The company's revenue for the quarter was up 35.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.07 earnings per share. Equities research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a $0.40 dividend. This represents a dividend yield of 136.0%. The ex-dividend date of this dividend was Friday, May 30th. 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.