Wealth Preservation Advisors LLC Invests $225,000 in Agnico Eagle Mines Limited $AEM

Key Points

• Wealth Preservation Advisors LLC has acquired a new position in Agnico Eagle Mines, purchasing 2,075 shares valued at approximately $225,000 during the first quarter of the year.
• Equity analysts have raised Agnico Eagle Mines ratings to "strong-buy" and "buy," with a consensus price target of $136.90.
• Agnico Eagle Mines reported strong quarterly earnings with an EPS of $1.94, exceeding estimates, and announced a dividend of $0.40 to be paid on September 15th.

Wealth Preservation Advisors LLC acquired a new position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,075 shares of the mining company's stock, valued at approximately $225,000.

Several other hedge funds also recently added to or reduced their stakes in AEM. MJT & Associates Financial Advisory Group Inc. purchased a new position in Agnico Eagle Mines in the first quarter worth approximately $26,000. Cary Street Partners Investment Advisory LLC purchased a new position in Agnico Eagle Mines in the first quarter worth approximately $26,000. Private Trust Co. NA grew its position in 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 acquiring an additional 232 shares during the period. Golden State Wealth Management LLC purchased a new position in Agnico Eagle Mines in the first quarter worth approximately $34,000. Finally, Dagco Inc. purchased a new position in Agnico Eagle Mines in the first quarter worth approximately $39,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Up 3.7%

Shares of NYSE AEM traded up $5.12 during mid-day trading on Friday, hitting $144.23. The company had a trading volume of 2,801,181 shares, compared to its average volume of 2,361,428. The company has a market capitalization of $72.52 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 0.95 and a beta of 0.44. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16. Agnico Eagle Mines Limited has a 1-year low of $75.17 and a 1-year high of $144.78. The business's 50-day simple moving average is $127.10 and its 200 day simple moving average is $116.00.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.46 billion. During the same period last year, the firm earned $1.07 earnings per share. Agnico Eagle Mines's quarterly revenue was up 35.6% on a year-over-year basis. On average, analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Royal Bank Of Canada increased their price objective on Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Bank of America upped their price target on Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. National Bankshares reiterated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. Lake Street Capital reiterated a "buy" rating on shares of Agnico Eagle Mines 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. Five equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Agnico Eagle Mines presently has an average rating of "Buy" and a consensus target price of $136.90.

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.