Stratos Wealth Partners LTD. Purchases 3,005 Shares of Agnico Eagle Mines Limited $AEM

Key Points

• Stratos Wealth Partners LTD. increased its holdings in Agnico Eagle Mines by 26.6% in Q2, now owning 14,315 shares valued at approximately $1.7 million.
• Agnico Eagle Mines reported $1.94 earnings per share (EPS) for the last quarter, exceeding analyst expectations by $0.11, with revenues of $2.86 billion.
• Recent price targets for Agnico Eagle Mines have been raised, with Citigroup setting a new target of $198.00 and maintaining a "buy" rating.

Stratos Wealth Partners LTD. grew its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 26.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,315 shares of the mining company's stock after purchasing an additional 3,005 shares during the quarter. Stratos Wealth Partners LTD.'s holdings in Agnico Eagle Mines were worth $1,703,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AEM. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Agnico Eagle Mines by 1.5% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,702 shares of the mining company's stock worth $618,000 after acquiring an additional 85 shares during the period. Hexagon Capital Partners LLC increased its position 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 worth $40,000 after acquiring an additional 87 shares during the period. Continuum Advisory LLC increased its position in Agnico Eagle Mines by 47.0% during the first quarter. Continuum Advisory LLC now owns 397 shares of the mining company's stock worth $43,000 after acquiring an additional 127 shares during the period. US Bancorp DE increased its position in Agnico Eagle Mines by 2.0% during the first quarter. US Bancorp DE now owns 6,908 shares of the mining company's stock worth $749,000 after acquiring an additional 138 shares during the period. Finally, Parallel Advisors LLC increased its position in Agnico Eagle Mines by 8.2% during the second quarter. Parallel Advisors LLC now owns 1,871 shares of the mining company's stock worth $223,000 after acquiring an additional 142 shares during the period. Institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Stock Up 2.3%

Shares of NYSE AEM opened at $178.45 on Tuesday. The firm's 50-day simple moving average is $154.62 and its 200 day simple moving average is $131.46. The company has a market cap of $89.73 billion, a price-to-earnings ratio of 30.35, a price-to-earnings-growth ratio of 0.80 and a beta of 0.46. 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 Limited has a 12-month low of $75.17 and a 12-month high of $187.50.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.11. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.46 billion. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The firm's quarterly revenue was up 35.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.07 EPS. On average, research analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AEM has been the topic of a number of research reports. Lake Street Capital reaffirmed a "buy" rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. Citigroup boosted their price target on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the company a "buy" rating in a report on Wednesday, October 15th. Weiss Ratings reissued a "buy (a)" rating on shares of Agnico Eagle Mines in a report on Wednesday, October 8th. Raymond James Financial boosted their price target on shares of Agnico Eagle Mines from $155.00 to $182.00 and gave the company an "outperform" rating in a report on Friday, October 10th. Finally, TD Securities boosted their price target on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the company a "buy" rating in a report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $175.20.

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.

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