Cadence Wealth Management LLC decreased its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 20.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,264 shares of the mining company's stock after selling 2,616 shares during the period. Agnico Eagle Mines makes up approximately 0.8% of Cadence Wealth Management LLC's holdings, making the stock its 15th largest position. Cadence Wealth Management LLC's holdings in Agnico Eagle Mines were worth $1,113,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in Agnico Eagle Mines by 11.5% in the 4th quarter. Brighton Jones LLC now owns 3,216 shares of the mining company's stock worth $252,000 after acquiring an additional 331 shares during the period. American Century Companies Inc. raised its stake in Agnico Eagle Mines by 10.2% during the fourth quarter. American Century Companies Inc. now owns 759,962 shares of the mining company's stock worth $59,443,000 after acquiring an additional 70,157 shares during the period. Vanguard Group Inc. raised its stake in Agnico Eagle Mines by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 19,865,285 shares of the mining company's stock worth $1,554,180,000 after acquiring an additional 331,087 shares during the period. Prudential Financial Inc. increased its stake in shares of Agnico Eagle Mines by 21.6% in the fourth quarter. Prudential Financial Inc. now owns 33,637 shares of the mining company's stock valued at $2,630,000 after purchasing an additional 5,967 shares during the period. Finally, Mufg Securities Canada LTD. boosted its holdings in shares of Agnico Eagle Mines by 72.3% in the fourth quarter. Mufg Securities Canada LTD. now owns 765,833 shares of the mining company's stock valued at $59,876,000 after acquiring an additional 321,354 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company's stock.
Analysts Set New Price Targets
AEM has been the subject of a number of research reports. Cfra Research upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a report on Friday, April 25th. Lake Street Capital reiterated a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. Royal Bank Of Canada raised 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 report on Wednesday, June 4th. Bank of America raised their price target on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Finally, Raymond James Financial upgraded shares of Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 target price on the stock in a research report on Monday, June 30th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and five have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Agnico Eagle Mines presently has an average rating of "Buy" and an average price target of $136.90.
View Our Latest Report on AEM
Agnico Eagle Mines Trading Up 0.9%
Shares of AEM traded up $1.17 on Friday, reaching $126.96. 3,436,973 shares of the company's stock were exchanged, compared to its average volume of 2,336,318. The stock has a market capitalization of $63.84 billion, a P/E ratio of 27.01, a price-to-earnings-growth ratio of 0.91 and a beta of 0.50. The business has a 50 day moving average price of $120.00 and a two-hundred day moving average price of $108.53. The company has a current ratio of 2.37, a quick ratio of 1.20 and a debt-to-equity ratio of 0.05. Agnico Eagle Mines Limited has a 12 month low of $69.72 and a 12 month high of $129.77.
Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its quarterly earnings results on Thursday, April 24th. The mining company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.14. The firm had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.27 billion. Agnico Eagle Mines had a net margin of 26.48% and a return on equity of 12.09%. The company's quarterly revenue was up 34.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.76 earnings per share. Research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share 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 given a dividend of $0.40 per share. This represents a yield of 1.36%. The ex-dividend date of this dividend was Friday, May 30th. Agnico Eagle Mines's dividend payout ratio is 34.04%.
Agnico Eagle Mines Profile
(
Free Report)
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.
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