Harbour Investments Inc. Has $362,000 Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Key Points

• Harbour Investments Inc. increased its stake in Agnico Eagle Mines by 569.7%, owning 3,342 shares worth $362,000 by the end of the most recent reporting period.
• Agnico Eagle Mines' stock has received various upgrades from analysts, with a current average rating of "Buy" and an average price target of $136.90.
• The company reported a 35.6% year-over-year revenue increase in its most recent quarter, achieving revenue of $2.86 billion and earnings per share of $1.94, surpassing analyst expectations.

Harbour Investments Inc. lifted its position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 569.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,342 shares of the mining company's stock after purchasing an additional 2,843 shares during the quarter. Harbour Investments Inc.'s holdings in Agnico Eagle Mines were worth $362,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AEM. DAVENPORT & Co LLC purchased a new stake in Agnico Eagle Mines in the 1st quarter valued at $226,000. Bank of New York Mellon Corp lifted its stake in Agnico Eagle Mines by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 485,317 shares of the mining company's stock valued at $52,613,000 after acquiring an additional 5,717 shares in the last quarter. Private Trust Co. NA lifted its stake in Agnico Eagle Mines by 454.9% during the 1st quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock valued at $31,000 after acquiring an additional 232 shares in the last quarter. Golden State Wealth Management LLC bought a new position in Agnico Eagle Mines during the 1st quarter valued at $34,000. Finally, Captrust Financial Advisors lifted its stake in Agnico Eagle Mines by 6.5% during the 4th quarter. Captrust Financial Advisors now owns 5,663 shares of the mining company's stock valued at $443,000 after acquiring an additional 347 shares in the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AEM. UBS Group raised their price objective on Agnico Eagle Mines from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, April 11th. Cfra Research upgraded Agnico Eagle Mines to a "strong-buy" rating in a research note on Friday, April 25th. BMO Capital Markets began coverage on Agnico Eagle Mines in a research note on Wednesday, April 16th. They set an "outperform" rating and a $181.00 price objective on the stock. Royal Bank Of Canada raised their price objective on Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Finally, National Bankshares restated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $136.90.

Agnico Eagle Mines Trading Up 2.4%

Shares of AEM opened at $134.55 on Wednesday. The business has a 50-day moving average of $121.73 and a 200 day moving average of $110.80. Agnico Eagle Mines Limited has a fifty-two week low of $71.93 and a fifty-two week high of $134.93. The firm has a market cap of $67.65 billion, a P/E ratio of 22.88, a price-to-earnings-growth ratio of 0.91 and a beta of 0.44. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings data 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 return on equity of 13.79% and a net margin of 30.63%. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter last year, the firm posted $1.07 EPS. The firm's revenue for the quarter was up 35.6% on a year-over-year basis. As a group, research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The company also recently disclosed a dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a yield of 136.0%. Agnico Eagle Mines's dividend payout ratio (DPR) is 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.

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