Wealth Enhancement Advisory Services LLC Increases Position in Agnico Eagle Mines Limited (NYSE:AEM)

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 6.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,138 shares of the mining company's stock after purchasing an additional 2,141 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Agnico Eagle Mines were worth $3,592,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in AEM. Norges Bank acquired a new position in shares of Agnico Eagle Mines during the 4th quarter valued at about $573,446,000. Capital World Investors increased its stake in Agnico Eagle Mines by 41.9% during the fourth quarter. Capital World Investors now owns 13,952,061 shares of the mining company's stock worth $1,091,550,000 after acquiring an additional 4,121,164 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Agnico Eagle Mines by 81.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company's stock valued at $551,339,000 after purchasing an additional 3,155,927 shares during the period. AGF Management Ltd. raised its position in Agnico Eagle Mines by 184.6% in the fourth quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company's stock valued at $109,205,000 after purchasing an additional 905,328 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Agnico Eagle Mines by 33.2% in the 4th quarter. Geode Capital Management LLC now owns 3,006,646 shares of the mining company's stock valued at $239,844,000 after purchasing an additional 749,932 shares during the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Down 5.6%

Agnico Eagle Mines stock traded down $6.95 during mid-day trading on Friday, reaching $116.10. 4,919,094 shares of the company's stock were exchanged, compared to its average volume of 2,595,969. The company has a quick ratio of 1.20, a current ratio of 2.37 and a debt-to-equity ratio of 0.05. Agnico Eagle Mines Limited has a twelve month low of $64.65 and a twelve month high of $126.76. The company has a market cap of $58.44 billion, a P/E ratio of 24.70, a P/E/G ratio of 0.91 and a beta of 0.51. The company has a fifty day moving average of $117.61 and a 200-day moving average of $102.73.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its earnings results on Thursday, April 24th. The mining company reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.14. Agnico Eagle Mines had a return on equity of 12.09% and a net margin of 26.48%. The firm had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the business posted $0.76 earnings per share. Agnico Eagle Mines's revenue was up 34.9% compared to the same quarter last year. Sell-side analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The business also recently disclosed a dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $0.40 dividend. This represents a dividend yield of 1.36%. The ex-dividend date of this dividend was Friday, May 30th. Agnico Eagle Mines's payout ratio is presently 34.04%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AEM. Cfra Research raised Agnico Eagle Mines to a "strong-buy" rating in a research report on Friday, April 25th. BMO Capital Markets initiated coverage on shares of Agnico Eagle Mines in a research note on Wednesday, April 16th. They set an "outperform" rating and a $181.00 target price for the company. Citigroup lifted their price target on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the company a "buy" rating in a research report on Monday, March 31st. Raymond James Financial boosted their price target on shares of Agnico Eagle Mines from $105.00 to $130.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. Finally, Lake Street Capital restated a "buy" rating on shares of Agnico Eagle Mines in a report on Monday. Two analysts have rated the stock with a hold rating, nine have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $130.50.

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.