Principle Wealth Partners LLC Takes Position in Agnico Eagle Mines Limited (NYSE:AEM)

Principle Wealth Partners LLC bought a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,543 shares of the mining company's stock, valued at approximately $276,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Private Trust Co. NA lifted its holdings in shares of 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 acquired a new position in shares of Agnico Eagle Mines during the 1st quarter valued at $34,000. Hexagon Capital Partners LLC increased its stake in Agnico Eagle Mines by 31.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 367 shares of the mining company's stock worth $40,000 after buying an additional 87 shares during the period. Continuum Advisory LLC lifted its holdings in Agnico Eagle Mines by 47.0% in the 1st quarter. Continuum Advisory LLC now owns 397 shares of the mining company's stock worth $43,000 after buying an additional 127 shares in the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in Agnico Eagle Mines in the 1st quarter worth $49,000. Institutional investors and hedge funds own 68.34% of the company's stock.

Agnico Eagle Mines Stock Performance

Shares of NYSE:AEM traded up $1.17 during trading on Friday, reaching $126.96. 3,436,973 shares of the company's stock traded hands, compared to its average volume of 2,336,318. Agnico Eagle Mines Limited has a 12 month low of $69.72 and a 12 month high of $129.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.37 and a quick ratio of 1.20. The stock has a market capitalization of $63.84 billion, a P/E ratio of 27.01, a price-to-earnings-growth ratio of 0.91 and a beta of 0.50. The company has a 50 day moving average of $120.00 and a 200-day moving average of $108.53.

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

Agnico Eagle Mines Announces Dividend

The company also recently announced a dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $0.40 dividend. This represents a yield of 1.36%. The ex-dividend date of this dividend was Friday, May 30th. Agnico Eagle Mines's dividend payout ratio (DPR) is 34.04%.

Analysts Set New Price Targets

A number of equities analysts have commented on AEM shares. TD Securities upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a report on Thursday, July 17th. Raymond James Financial upgraded shares of Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price objective on the stock in a report on Monday, June 30th. BMO Capital Markets started coverage on shares of Agnico Eagle Mines in a report on Wednesday, April 16th. They issued an "outperform" rating and a $181.00 price objective on the stock. UBS Group boosted their price objective on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, April 11th. Finally, CIBC reissued an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, July 15th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $136.90.

Agnico Eagle Mines Company 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.