Northwest & Ethical Investments L.P. Acquires 37,443 Shares of Agnico Eagle Mines Limited $AEM

Key Points

• Northwest & Ethical Investments L.P. increased its stake in Agnico Eagle Mines by 55.5%, now owning 104,888 shares worth approximately $11.37 million.
• Agnico Eagle Mines reported a quarterly EPS of $1.94, exceeding analyst estimates, with revenues of $2.86 billion, reflecting a 35.6% increase year-over-year.
• Analysts remain bullish on Agnico Eagle Mines, with a consensus rating of “Buy” and an average target price of $136.90.

Northwest & Ethical Investments L.P. lifted its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 55.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 104,888 shares of the mining company's stock after buying an additional 37,443 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Agnico Eagle Mines were worth $11,371,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of Agnico Eagle Mines in the first quarter worth $26,000. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Agnico Eagle Mines in the first quarter worth $26,000. Private Trust Co. NA boosted its position in shares of Agnico Eagle Mines by 454.9% in the first quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock worth $31,000 after buying an additional 232 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of Agnico Eagle Mines in the first quarter worth $34,000. Finally, Coppell Advisory Solutions LLC boosted its position in shares of Agnico Eagle Mines by 235.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 469 shares of the mining company's stock worth $37,000 after buying an additional 329 shares during the period. Institutional investors and hedge funds own 68.34% of the company's stock.

Agnico Eagle Mines Stock Up 3.4%

Shares of NYSE:AEM traded up $4.4020 on Wednesday, reaching $134.6320. The company had a trading volume of 2,609,722 shares, compared to its average volume of 2,957,286. Agnico Eagle Mines Limited has a twelve month low of $75.17 and a twelve month high of $137.81. The stock has a 50-day moving average price of $124.54 and a 200 day moving average price of $113.87. The stock has a market capitalization of $67.70 billion, a P/E ratio of 22.90, a P/E/G ratio of 0.92 and a beta of 0.44. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted 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 business had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $2.46 billion. During the same quarter in the previous year, the firm earned $1.07 EPS. The firm's revenue was up 35.6% compared to the same quarter last year. On average, equities analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The company also recently declared a dividend, which was paid on Monday, June 16th. Shareholders 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 is 27.21%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. TD Securities raised Agnico Eagle Mines to a "strong-buy" rating in a research report on Thursday, July 17th. Cfra Research upgraded Agnico Eagle Mines to a "strong-buy" rating in a research note on Friday, April 25th. Bank of America boosted their target price on Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Raymond James Financial upgraded Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 target price on the stock in a research note on Monday, June 30th. Finally, Lake Street Capital restated a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. Five analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Agnico Eagle Mines 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.