Assetmark Inc. Purchases 3,886 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Assetmark Inc. lifted its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 159.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,327 shares of the mining company’s stock after acquiring an additional 3,886 shares during the quarter. Assetmark Inc.’s holdings in Agnico Eagle Mines were worth $686,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Private Trust Co. NA increased its stake 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 worth $31,000 after buying an additional 232 shares during the period. Golden State Wealth Management LLC purchased a new position in Agnico Eagle Mines in the 1st quarter worth about $34,000. Hexagon Capital Partners LLC increased its stake in Agnico Eagle Mines by 31.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 367 shares of the mining company’s stock worth $40,000 after buying an additional 87 shares during the period. Continuum Advisory LLC increased its stake in Agnico Eagle Mines by 47.0% in the 1st quarter. Continuum Advisory LLC now owns 397 shares of the mining company’s stock worth $43,000 after buying an additional 127 shares during the period. Finally, ORG Wealth Partners LLC purchased a new position in Agnico Eagle Mines during the 1st quarter valued at about $49,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $125.21 on Friday. The firm’s fifty day moving average price is $121.09 and its 200 day moving average price is $109.95. Agnico Eagle Mines Limited has a 1-year low of $69.72 and a 1-year high of $129.77. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.20. The firm has a market cap of $62.96 billion, a price-to-earnings ratio of 21.29, a price-to-earnings-growth ratio of 0.88 and a beta of 0.44.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data 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 net margin of 30.63% and a return on equity of 13.79%. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period last year, the firm posted $1.07 EPS. Agnico Eagle Mines’s quarterly revenue was up 35.6% on a year-over-year basis. On average, sell-side analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The company also recently disclosed a dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a $0.40 dividend. This represents a yield of 136.0%. The ex-dividend date was Friday, May 30th. Agnico Eagle Mines’s dividend payout ratio (DPR) is 34.04%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Lake Street Capital reissued a “buy” rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. Royal Bank Of Canada raised their target price on shares of Agnico Eagle Mines from $115.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, June 4th. Raymond James Financial raised shares of Agnico Eagle Mines to a “moderate buy” rating and set a $130.00 target price on the stock in a research report on Monday, June 30th. TD Securities raised shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Thursday, July 17th. Finally, Cfra Research raised shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Friday, April 25th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $136.90.

Agnico Eagle Mines Company 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.