Legacy Wealth Asset Management LLC Buys New Holdings in Agnico Eagle Mines Limited $AEM

Legacy Wealth Asset Management LLC purchased a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,909 shares of the mining company’s stock, valued at approximately $663,000.

A number of other large investors have also bought and sold shares of the stock. Avanza Fonder AB grew its holdings in shares of Agnico Eagle Mines by 13.6% in the fourth quarter. Avanza Fonder AB now owns 49,584 shares of the mining company’s stock worth $8,406,000 after purchasing an additional 5,940 shares during the last quarter. Clear Trail Advisors LLC bought a new stake in Agnico Eagle Mines during the 4th quarter valued at $1,740,000. 180 Wealth Advisors LLC raised its holdings in Agnico Eagle Mines by 184.1% during the 4th quarter. 180 Wealth Advisors LLC now owns 5,793 shares of the mining company’s stock valued at $982,000 after buying an additional 3,754 shares during the last quarter. Baker Tilly Wealth Management LLC purchased a new stake in Agnico Eagle Mines during the 4th quarter valued at $221,000. Finally, Fulton Bank N.A. bought a new stake in Agnico Eagle Mines in the 4th quarter worth $203,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on AEM. Wall Street Zen raised shares of Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Canadian Imperial Bank of Commerce set a $296.00 price target on Agnico Eagle Mines and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Jefferies Financial Group set a $189.00 price objective on Agnico Eagle Mines in a research report on Sunday, December 7th. Weiss Ratings downgraded Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a report on Monday, January 12th. Finally, UBS Group reiterated a “neutral” rating and issued a $240.00 price target on shares of Agnico Eagle Mines in a report on Friday, January 30th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and a consensus target price of $234.91.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $183.25 on Wednesday. Agnico Eagle Mines Limited has a 12 month low of $94.77 and a 12 month high of $255.24. The firm has a market capitalization of $91.81 billion, a P/E ratio of 20.64 and a beta of 0.61. The company has a current ratio of 2.02, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $213.24 and a two-hundred day simple moving average of $183.85.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share (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 company had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same period last year, the business earned $1.26 EPS. Agnico Eagle Mines’s quarterly revenue 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 earnings per share for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Monday, March 2nd. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s dividend payout ratio (DPR) is currently 20.27%.

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.