Legacy Wealth Asset Management LLC Makes New $663,000 Investment in Agnico Eagle Mines Limited $AEM

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

Several other hedge funds also recently modified their holdings of AEM. True Wealth Design LLC raised its position in Agnico Eagle Mines by 381.3% in the 3rd quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock valued at $26,000 after buying an additional 122 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Agnico Eagle Mines in the 2nd quarter worth $29,000. Blue Bell Private Wealth Management LLC raised its holdings in shares of Agnico Eagle Mines by 59.7% in the third 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 last quarter. MCF Advisors LLC bought a new position in shares of Agnico Eagle Mines during the third quarter valued at about $34,000. Finally, Caitlin John LLC purchased a new position in Agnico Eagle Mines during the third quarter worth about $36,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. TD Securities lifted their target price on shares of Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Zacks Research raised Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. Wall Street Zen upgraded shares of Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Weiss Ratings downgraded shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research report on Monday, January 12th. Finally, Scotiabank restated an “outperform” rating and issued a $280.00 target price on shares of Agnico Eagle Mines in a research note on Tuesday, February 17th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines has an average rating of “Moderate Buy” and a consensus price target of $234.91.

Agnico Eagle Mines Trading Down 0.4%

AEM stock opened at $183.25 on Wednesday. The company has a market capitalization of $91.81 billion, a PE ratio of 20.64 and a beta of 0.61. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.02. Agnico Eagle Mines Limited has a one year low of $94.77 and a one year high of $255.24. The company’s 50 day moving average price is $213.24 and its two-hundred day moving average price is $183.85.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $3.40 billion. During the same quarter in the prior year, the company earned $1.26 EPS. The firm’s revenue was up 60.3% on a year-over-year basis. As a group, analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Increases Dividend

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

Agnico Eagle Mines Company 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.