RKL Wealth Management LLC Makes New Investment in Agnico Eagle Mines Limited $AEM

RKL Wealth Management LLC acquired a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 6,000 shares of the mining company’s stock, valued at approximately $1,011,000.

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on AEM shares. Canadian Imperial Bank of Commerce set a $296.00 price target on Agnico Eagle Mines and gave the company an “outperform” rating in a report on Wednesday, February 4th. TD Securities set a $251.00 target price on Agnico Eagle Mines and gave the company a “buy” rating in a research report on Tuesday, February 17th. 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. Citigroup lifted their price target on shares of Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a “buy” rating in a research note on Thursday, January 15th. Finally, Jefferies Financial Group set a $189.00 price objective on shares of Agnico Eagle Mines in a research note on Sunday, December 7th. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and a consensus target price of $234.91.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at $240.63 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.02 and a quick ratio of 1.33. Agnico Eagle Mines Limited has a 12 month low of $92.11 and a 12 month high of $245.81. The company has a fifty day moving average price of $199.36 and a two-hundred day moving average price of $173.31. The company has a market cap of $120.56 billion, a PE ratio of 27.10, a P/E/G ratio of 0.57 and a beta of 0.63.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $3.40 billion. During the same period last year, the firm posted $1.26 EPS. The company’s revenue for the quarter was up 60.3% on a year-over-year basis. Research analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Increases Dividend

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

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.