West Michigan Advisors LLC bought a new position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,318 shares of the mining company's stock, valued at approximately $360,000.
Other hedge funds also recently made changes to their positions in the company. DAVENPORT & Co LLC acquired a new stake in shares of Agnico Eagle Mines during the first quarter valued at about $226,000. Bank of New York Mellon Corp raised its holdings in Agnico Eagle Mines by 1.2% in the 1st quarter. Bank of New York Mellon Corp now owns 485,317 shares of the mining company's stock valued at $52,613,000 after buying an additional 5,717 shares during the last quarter. Private Trust Co. NA raised its holdings in Agnico Eagle Mines by 454.9% in the 1st quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock valued at $31,000 after buying an additional 232 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in Agnico Eagle Mines during the 1st quarter worth approximately $34,000. Finally, Captrust Financial Advisors grew its holdings in Agnico Eagle Mines by 6.5% during the 4th quarter. Captrust Financial Advisors now owns 5,663 shares of the mining company's stock worth $443,000 after acquiring an additional 347 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have issued reports on AEM. Scotiabank restated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Monday, April 14th. Royal Bank Of Canada increased their price objective on Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. TD Securities raised Agnico Eagle Mines to a "strong-buy" rating in a report on Thursday, July 17th. Cfra Research upgraded Agnico Eagle Mines to a "strong-buy" rating in a research report on Friday, April 25th. Finally, BMO Capital Markets initiated coverage on Agnico Eagle Mines in a research report on Wednesday, April 16th. They set an "outperform" rating and a $181.00 price objective for the company. Two 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 company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $136.90.
Get Our Latest Research Report on AEM
Agnico Eagle Mines Trading Down 0.1%
Shares of NYSE:AEM traded down $0.12 during midday trading on Friday, reaching $135.66. The company's stock had a trading volume of 2,239,790 shares, compared to its average volume of 2,703,854. Agnico Eagle Mines Limited has a fifty-two week low of $72.78 and a fifty-two week high of $137.81. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03. The firm has a 50 day moving average price of $122.78 and a two-hundred day moving average price of $111.64. The firm has a market capitalization of $68.21 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 0.94 and a beta of 0.44.
Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.11. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.46 billion. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%. The firm's revenue for the quarter was up 35.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.07 earnings per share. As a group, analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.
Agnico Eagle Mines Announces Dividend
The business also recently announced 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. The ex-dividend date of this dividend was Friday, May 30th. This represents a yield of 136.0%. Agnico Eagle Mines's dividend payout ratio is currently 27.21%.
Agnico Eagle Mines Profile
(
Free Report)
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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