Kingsview Wealth Management LLC Buys Shares of 2,602 Agnico Eagle Mines Limited (NYSE:AEM)

Kingsview Wealth Management LLC acquired a new stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,602 shares of the mining company's stock, valued at approximately $282,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AEM. Brighton Jones LLC grew its stake in Agnico Eagle Mines by 11.5% in the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company's stock valued at $252,000 after acquiring an additional 331 shares during the period. American Century Companies Inc. grew its stake in Agnico Eagle Mines by 10.2% in the fourth quarter. American Century Companies Inc. now owns 759,962 shares of the mining company's stock valued at $59,443,000 after acquiring an additional 70,157 shares during the period. Vanguard Group Inc. boosted its position in shares of 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 buying an additional 331,087 shares during the period. Prudential Financial Inc. boosted its position in shares of Agnico Eagle Mines by 21.6% during the fourth quarter. Prudential Financial Inc. now owns 33,637 shares of the mining company's stock worth $2,630,000 after buying an additional 5,967 shares during the period. Finally, Mufg Securities Canada LTD. boosted its position in shares of Agnico Eagle Mines by 72.3% during the fourth quarter. Mufg Securities Canada LTD. now owns 765,833 shares of the mining company's stock worth $59,876,000 after buying an additional 321,354 shares during the period. Institutional investors own 68.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AEM. CIBC reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, July 15th. Scotiabank reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research report on Monday, April 14th. Royal Bank Of Canada upped their price objective on Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Raymond James Financial raised Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price objective for the company in a research report on Monday, June 30th. Finally, UBS Group upped their price objective on Agnico Eagle Mines from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. 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 company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $136.90.

Agnico Eagle Mines Stock Performance

Shares of AEM stock traded up $1.17 during midday trading on Friday, hitting $126.96. 3,436,973 shares of the company were exchanged, compared to its average volume of 3,007,915. The firm has a market capitalization of $63.84 billion, a P/E ratio of 27.01, a PEG ratio of 0.92 and a beta of 0.50. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.20 and a current ratio of 2.37. Agnico Eagle Mines Limited has a 52 week low of $69.72 and a 52 week high of $129.77. The firm's 50 day moving average price is $119.59 and its two-hundred day moving average price is $108.22.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings results on Thursday, April 24th. The mining company reported $1.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.14. The business had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.27 billion. Agnico Eagle Mines had a return on equity of 12.09% and a net margin of 26.48%. The firm's quarterly revenue was up 34.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.76 earnings per share. As a group, equities research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The business 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 was Friday, May 30th. Agnico Eagle Mines's dividend payout ratio is currently 34.04%.

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.