Wealthstar Advisors LLC Acquires New Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Wealthstar Advisors LLC acquired a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 8,524 shares of the mining company's stock, valued at approximately $924,000.

A number of other large investors also recently bought and sold shares of the business. Brighton Jones LLC raised its position in Agnico Eagle Mines by 11.5% during the 4th quarter. Brighton Jones LLC now owns 3,216 shares of the mining company's stock valued at $252,000 after purchasing an additional 331 shares in the last quarter. Private Advisor Group LLC raised its position in Agnico Eagle Mines by 6.1% during the 4th quarter. Private Advisor Group LLC now owns 9,626 shares of the mining company's stock valued at $753,000 after purchasing an additional 550 shares in the last quarter. Y Intercept Hong Kong Ltd raised its position in Agnico Eagle Mines by 86.6% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 8,292 shares of the mining company's stock valued at $649,000 after purchasing an additional 3,848 shares in the last quarter. IFP Advisors Inc raised its position in Agnico Eagle Mines by 6.0% during the 4th quarter. IFP Advisors Inc now owns 4,709 shares of the mining company's stock valued at $368,000 after purchasing an additional 266 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Agnico Eagle Mines by 7.4% during the 4th quarter. Bank of New York Mellon Corp now owns 479,600 shares of the mining company's stock valued at $37,510,000 after purchasing an additional 32,961 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AEM shares. BMO Capital Markets started coverage on Agnico Eagle Mines in a report on Wednesday, April 16th. They issued an "outperform" rating and a $181.00 price target on the stock. UBS Group lifted their price target on Agnico Eagle Mines from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, April 11th. Raymond James Financial lifted their price target on Agnico Eagle Mines from $105.00 to $130.00 and gave the company an "outperform" rating in a report on Friday, April 4th. Cfra Research upgraded Agnico Eagle Mines to a "strong-buy" rating in a report on Friday, April 25th. Finally, Scotiabank reiterated an "outperform" rating on shares of Agnico Eagle Mines in a report on Monday, April 14th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Agnico Eagle Mines has an average rating of "Buy" and a consensus target price of $130.50.

Agnico Eagle Mines Stock Down 5.6%

Shares of AEM opened at $116.10 on Friday. Agnico Eagle Mines Limited has a 52 week low of $64.65 and a 52 week high of $126.76. The company has a quick ratio of 1.20, a current ratio of 2.37 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $58.44 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 0.89 and a beta of 0.51. The stock's 50-day moving average price is $117.50 and its 200-day moving average price is $103.06.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its earnings results on Thursday, April 24th. The mining company reported $1.53 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the business earned $0.76 earnings per share. The company's revenue was up 34.9% compared to the same quarter last year. On average, sell-side analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

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

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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