Brooklyn Investment Group Takes $293,000 Position in Agnico Eagle Mines Limited $AEM

Key Points

• Brooklyn Investment Group has acquired a new position in Agnico Eagle Mines Limited, purchasing 2,702 shares valued at approximately $293,000 during the first quarter of the year.
• Agnico Eagle Mines reported $1.94 EPS for the recent quarter, exceeding analyst estimates of $1.83, with quarterly revenue up 35.6% year-over-year to $2.86 billion.
• The company announced a dividend of $0.40 per share, reflecting a high dividend yield of 136.0%, significantly supported by a payout ratio of 27.21%.

Brooklyn Investment Group acquired a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 2,702 shares of the mining company's stock, valued at approximately $293,000.

Several other institutional investors have also modified their holdings of AEM. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Agnico Eagle Mines in the first quarter valued at $26,000. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Agnico Eagle Mines in the 1st quarter valued at about $26,000. Private Trust Co. NA lifted its holdings in shares of Agnico Eagle Mines by 454.9% in the 1st quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock valued at $31,000 after purchasing an additional 232 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Agnico Eagle Mines in the 1st quarter valued at about $34,000. Finally, Coppell Advisory Solutions LLC lifted its holdings in shares of Agnico Eagle Mines by 235.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 469 shares of the mining company's stock valued at $37,000 after purchasing an additional 329 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Price Performance

AEM traded down $0.59 on Monday, hitting $136.67. 1,757,583 shares of the company were exchanged, compared to its average volume of 2,551,285. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03. The business's fifty day moving average is $125.65 and its 200 day moving average is $115.08. Agnico Eagle Mines Limited has a fifty-two week low of $75.17 and a fifty-two week high of $138.02. The firm has a market capitalization of $68.72 billion, a P/E ratio of 23.24, a price-to-earnings-growth ratio of 0.95 and a beta of 0.44.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its 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 net margin of 30.63% and a return on equity of 13.79%. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period in the prior year, the business posted $1.07 earnings per share. The firm's revenue for the quarter was up 35.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AEM shares. CIBC reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, July 15th. Lake Street Capital reaffirmed a "buy" rating on shares of Agnico Eagle Mines in a report on Monday, June 23rd. 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 report on Monday, June 30th. Bank of America upped their target price on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Finally, Royal Bank Of Canada boosted their price target on shares of Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Five analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price 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.