SteelPeak Wealth LLC Invests $2.20 Million in Agnico Eagle Mines Limited $AEM

SteelPeak Wealth LLC bought a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 12,968 shares of the mining company’s stock, valued at approximately $2,198,000.

Several other institutional investors also recently modified their holdings of the stock. True Wealth Design LLC lifted 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 worth $26,000 after buying an additional 122 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in Agnico Eagle Mines during the second quarter valued at approximately $29,000. Blue Bell Private Wealth Management LLC raised its stake in shares of Agnico Eagle Mines by 59.7% during the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock worth $33,000 after acquiring an additional 74 shares in the last quarter. MCF Advisors LLC bought a new stake in shares of Agnico Eagle Mines in the 3rd quarter worth approximately $34,000. Finally, Abound Wealth Management boosted its stake in shares of Agnico Eagle Mines by 99.0% in the 4th quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock valued at $35,000 after purchasing an additional 104 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Price Performance

AEM opened at $208.52 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.02. The stock has a market capitalization of $104.48 billion, a PE ratio of 23.48 and a beta of 0.71. The stock’s 50 day moving average price is $212.43 and its 200-day moving average price is $186.20. Agnico Eagle Mines Limited has a 52-week low of $94.77 and a 52-week high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released 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 during the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the prior year, the firm earned $1.26 earnings per share. Agnico Eagle Mines’s revenue was up 60.3% on a year-over-year basis. On average, equities research analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were given a $0.45 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.80 annualized dividend and a dividend yield of 0.9%. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s dividend payout ratio is currently 20.27%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AEM shares. 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. Scotiabank reiterated an “outperform” rating and issued a $280.00 price objective on shares of Agnico Eagle Mines in a report on Tuesday, February 17th. JPMorgan Chase & Co. lowered their target price on Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Jefferies Financial Group set a $189.00 target price on Agnico Eagle Mines in a report on Sunday, December 7th. Finally, Citigroup raised their price target on Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $232.18.

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.