Everett Harris & Co. CA Purchases New Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Key Points

• Everett Harris & Co. CA has acquired a new position in Agnico Eagle Mines Limited, purchasing 1,900 shares valued at approximately $206,000.
• Brokerages are optimistic about Agnico Eagle Mines, with ratings varying from "buy" to "strong buy," and a price target averaging around $136.90.
• Agnico Eagle Mines reported earnings of $1.94 per share in its latest quarter, exceeding estimates, along with a year-over-year revenue increase of 35.6%.

Everett Harris & Co. CA acquired a new stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,900 shares of the mining company's stock, valued at approximately $206,000.

Several other large investors also recently bought and sold shares of the company. Capital World Investors lifted its holdings in Agnico Eagle Mines by 41.9% in the fourth quarter. Capital World Investors now owns 13,952,061 shares of the mining company's stock worth $1,091,550,000 after acquiring an additional 4,121,164 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Agnico Eagle Mines by 3.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 13,441,198 shares of the mining company's stock valued at $1,457,160,000 after buying an additional 499,362 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Agnico Eagle Mines by 0.7% during the fourth quarter. Deutsche Bank AG now owns 11,916,739 shares of the mining company's stock valued at $932,008,000 after acquiring an additional 87,410 shares during the period. TD Asset Management Inc boosted its stake in Agnico Eagle Mines by 42.8% during the 1st quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company's stock valued at $978,553,000 after purchasing an additional 2,709,005 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in Agnico Eagle Mines by 10.7% during the 4th quarter. Nuveen Asset Management LLC now owns 1,027,009 shares of the mining company's stock valued at $80,316,000 after purchasing an additional 99,148 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company's stock.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM traded down $0.18 during midday trading on Monday, reaching $135.43. 2,224,742 shares of the company's stock were exchanged, compared to its average volume of 2,726,694. Agnico Eagle Mines Limited has a 12 month low of $74.64 and a 12 month high of $137.81. 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 firm has a market capitalization of $68.09 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 0.94 and a beta of 0.44. The company's 50 day simple moving average is $122.78 and its two-hundred day simple moving average is $111.96.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.11. The company had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $2.46 billion. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%. The business's revenue was up 35.6% on a year-over-year basis. During the same period last year, the business earned $1.07 earnings per share. Equities research analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The business also recently announced a dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a dividend yield of 136.0%. Agnico Eagle Mines's payout ratio is currently 27.21%.

Analyst Ratings Changes

Several research analysts have issued reports on AEM shares. BMO Capital Markets initiated coverage on shares of Agnico Eagle Mines in a research report on Wednesday, April 16th. They issued an "outperform" rating and a $181.00 price target on the stock. Lake Street Capital reissued a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. Royal Bank Of Canada increased their price objective on Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Bank of America boosted their price target on 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, CIBC restated an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, July 15th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, Agnico Eagle Mines presently has a consensus rating of "Buy" and an average target price of $136.90.

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.