Sound View Wealth Advisors Group LLC Makes New Investment in Agnico Eagle Mines Limited $AEM

Sound View Wealth Advisors Group LLC bought 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 SEC. The institutional investor bought 2,090 shares of the mining company’s stock, valued at approximately $352,000.

Other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC lifted its position in shares of Agnico Eagle Mines by 381.3% in the third quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock valued at $26,000 after acquiring 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 stake in shares of 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 worth $33,000 after purchasing an additional 74 shares during the last quarter. MCF Advisors LLC acquired a new stake in shares of Agnico Eagle Mines during the 3rd quarter worth about $34,000. Finally, Addison Advisors LLC grew its holdings 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 buying an additional 111 shares in the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Price Performance

AEM stock opened at $240.28 on Tuesday. The stock has a 50-day moving average price of $196.35 and a two-hundred day moving average price of $172.07. Agnico Eagle Mines Limited has a 12-month low of $92.11 and a 12-month high of $240.82. 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 company has a market cap of $120.39 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 0.53 and a beta of 0.63.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.13. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The business had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same period in the previous year, the company posted $1.26 EPS. The company’s revenue was up 60.3% compared to the same quarter last year. As a group, research analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.45 per share. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, March 2nd. Agnico Eagle Mines’s payout ratio is presently 20.27%.

Analyst Ratings Changes

Several equities analysts recently issued reports on AEM shares. Canadian Imperial Bank of Commerce set a $296.00 price objective on shares of Agnico Eagle Mines and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Wall Street Zen cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 31st. Raymond James Financial reiterated an “outperform” rating and issued a $225.00 price target on shares of Agnico Eagle Mines in a report on Wednesday, January 14th. Erste Group Bank cut Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Finally, Weiss Ratings downgraded Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research report on Monday, January 12th. Three investment 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.91.

About Agnico Eagle Mines

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.