Liontrust Investment Partners LLP Acquires New Stake in Agnico Eagle Mines Limited $AEM

Key Points

• Liontrust Investment Partners LLP has invested approximately $6.65 million in Agnico Eagle Mines Limited by acquiring 61,375 shares in the first quarter.
• Agnico Eagle Mines has received multiple analyst upgrades, including a "strong-buy" rating from Cfra Research and a target price increase from Bank of America, now set at $173.00.
• The company recently announced a $0.40 dividend with a yield of 136.0%, indicating a healthy dividend payout ratio of 27.21%.

Liontrust Investment Partners LLP bought a new position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 61,375 shares of the mining company's stock, valued at approximately $6,654,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Agnico Eagle Mines in the first quarter worth about $26,000. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Agnico Eagle Mines in the 1st quarter valued at about $26,000. Private Trust Co. NA lifted its position 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 worth $31,000 after purchasing an additional 232 shares during the period. Golden State Wealth Management LLC purchased a new stake in shares of Agnico Eagle Mines in the 1st quarter worth approximately $34,000. Finally, Coppell Advisory Solutions LLC boosted its stake in shares of Agnico Eagle Mines by 235.0% during the fourth 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 in the last quarter. Institutional investors own 68.34% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on AEM shares. Raymond James Financial upgraded 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. TD Securities raised Agnico Eagle Mines to a "strong-buy" rating in a research report on Thursday, July 17th. 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 report on Wednesday, June 4th. Lake Street Capital reiterated a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. Finally, CIBC reissued an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, July 15th. Five equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $136.90.

Agnico Eagle Mines Stock Performance

Shares of NYSE:AEM traded up $4.4020 on Wednesday, hitting $134.6320. 2,609,722 shares of the company were exchanged, compared to its average volume of 2,600,798. The firm has a market capitalization of $67.70 billion, a P/E ratio of 22.90, a price-to-earnings-growth ratio of 0.90 and a beta of 0.44. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03. Agnico Eagle Mines Limited has a 1-year low of $75.17 and a 1-year high of $137.81. The stock's 50 day moving average price is $124.86 and its 200 day moving average price is $114.02.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 business posted $1.07 EPS. The firm's quarterly revenue was up 35.6% on a year-over-year basis. Sell-side analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The company also recently announced a dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $0.40 per share. 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 27.21%.

Agnico Eagle Mines 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.