6,000 Shares in Agnico Eagle Mines Limited $AEM Bought by RKL Wealth Management LLC

RKL Wealth Management LLC bought a new position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 6,000 shares of the mining company’s stock, valued at approximately $1,011,000.

Other hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its position in shares of Agnico Eagle Mines by 381.3% during the third quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock worth $26,000 after acquiring an additional 122 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in Agnico Eagle Mines in the 2nd quarter valued at about $29,000. Blue Bell Private Wealth Management LLC boosted its stake in Agnico Eagle Mines by 59.7% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock valued at $33,000 after purchasing an additional 74 shares during the period. MCF Advisors LLC bought a new position in Agnico Eagle Mines in the 3rd quarter worth about $34,000. Finally, Addison Advisors LLC increased its stake in shares of Agnico Eagle Mines by 94.1% in the third quarter. Addison Advisors LLC now owns 229 shares of the mining company’s stock valued at $39,000 after purchasing an additional 111 shares during the period. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Trading Down 1.4%

Shares of Agnico Eagle Mines stock opened at $240.63 on Thursday. The business has a fifty day simple moving average of $199.36 and a 200-day simple moving average of $173.31. Agnico Eagle Mines Limited has a fifty-two week low of $92.11 and a fifty-two week high of $245.81. The firm has a market cap of $120.56 billion, a price-to-earnings ratio of 27.10, a price-to-earnings-growth ratio of 0.57 and a beta of 0.63. The company has a quick ratio of 1.33, a current ratio of 2.02 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 EPS for the quarter, topping the consensus estimate of $2.56 by $0.13. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.09%. The firm had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the previous year, the business earned $1.26 earnings per share. Agnico Eagle Mines’s revenue for the quarter was up 60.3% compared to the same quarter last year. On average, equities analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, March 2nd. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s payout ratio is presently 18.02%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AEM shares. Royal Bank Of Canada downgraded Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $185.00 to $205.00 in a research report on Wednesday, December 10th. Jefferies Financial Group set a $189.00 target price on Agnico Eagle Mines in a research note on Sunday, December 7th. Zacks Research cut Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. JPMorgan Chase & Co. lowered their price target on Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating on the stock in a report on Wednesday, February 18th. Finally, Erste Group Bank cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Agnico Eagle Mines presently has an average rating of “Moderate Buy” and an average price target of $234.91.

Agnico Eagle Mines Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.