Resolute Wealth Strategies LLC Invests $428,000 in Agnico Eagle Mines Limited (NYSE:AEM)

Key Points

• Resolute Wealth Strategies LLC has invested approximately $428,000, acquiring 3,946 shares of Agnico Eagle Mines Limited during the first quarter.
• The company recently reported earnings of $1.53 per share, exceeding estimates, with total revenue of $2.38 billion for the quarter.
• Agnico Eagle Mines shares received multiple positive ratings from analysts, with an average rating of "Buy" and a consensus price target of $136.90.

Resolute Wealth Strategies LLC bought a new position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 3,946 shares of the mining company's stock, valued at approximately $428,000.

Other institutional investors also recently modified their holdings of the company. Private Trust Co. NA increased its stake 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 acquiring an additional 232 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Agnico Eagle Mines in the first quarter worth approximately $34,000. Coppell Advisory Solutions LLC boosted its holdings 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 last quarter. Hexagon Capital Partners LLC lifted its holdings in Agnico Eagle Mines by 31.1% during the first quarter. Hexagon Capital Partners LLC now owns 367 shares of the mining company's stock valued at $40,000 after purchasing an additional 87 shares in the last quarter. Finally, Continuum Advisory LLC raised its holdings in Agnico Eagle Mines by 47.0% during the first quarter. Continuum Advisory LLC now owns 397 shares of the mining company's stock valued at $43,000 after acquiring an additional 127 shares during the period. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM traded down $1.54 on Wednesday, reaching $124.77. 1,247,559 shares of the company were exchanged, compared to its average volume of 2,983,274. The company has a current ratio of 2.37, a quick ratio of 1.20 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average of $120.59 and a 200-day moving average of $109.28. Agnico Eagle Mines Limited has a 1-year low of $69.72 and a 1-year high of $129.77. The firm has a market cap of $62.73 billion, a price-to-earnings ratio of 26.54, a price-to-earnings-growth ratio of 0.89 and a beta of 0.50.

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 paid a dividend of $0.40 per share. This represents a dividend yield of 1.36%. The ex-dividend date was Friday, May 30th. Agnico Eagle Mines's payout ratio is 34.04%.

Analysts Set New Price Targets

Several equities analysts have recently commented on AEM shares. Lake Street Capital reissued a "buy" rating on shares of Agnico Eagle Mines in a report on Monday, June 23rd. Scotiabank restated an "outperform" rating on shares of Agnico Eagle Mines in a report on Monday, April 14th. 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 research note on Friday, April 11th. Bank of America raised their target price on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Finally, TD Securities upgraded Agnico Eagle Mines to a "strong-buy" rating in a research note on Thursday, July 17th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock 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.