2,420 Shares in Agnico Eagle Mines Limited (NYSE:AEM) Purchased by Forum Financial Management LP

Forum Financial Management LP bought a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the first quarter, HoldingsChannel.com reports. The firm bought 2,420 shares of the mining company’s stock, valued at approximately $262,000.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its stake in Agnico Eagle Mines by 11.5% in the 4th quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock valued at $252,000 after purchasing an additional 331 shares during the period. Proficio Capital Partners LLC bought a new stake in Agnico Eagle Mines in the 4th quarter valued at $814,000. Corient Private Wealth LLC boosted its stake in Agnico Eagle Mines by 117.8% in the 4th quarter. Corient Private Wealth LLC now owns 23,623 shares of the mining company’s stock valued at $1,848,000 after purchasing an additional 12,777 shares during the period. Magnetar Financial LLC bought a new stake in shares of Agnico Eagle Mines during the 4th quarter valued at $523,000. Finally, Virtu Financial LLC bought a new stake in shares of Agnico Eagle Mines during the 4th quarter valued at $1,292,000. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Down 0.8%

Agnico Eagle Mines stock opened at $117.72 on Friday. Agnico Eagle Mines Limited has a 1-year low of $69.72 and a 1-year high of $126.76. The company has a current ratio of 2.37, a quick ratio of 1.20 and a debt-to-equity ratio of 0.05. The firm’s fifty day moving average price is $117.99 and its two-hundred day moving average price is $107.15. The firm has a market capitalization of $59.19 billion, a price-to-earnings ratio of 25.05, a price-to-earnings-growth ratio of 0.86 and a beta of 0.50.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Thursday, April 24th. The mining company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.14. Agnico Eagle Mines had a return on equity of 12.09% and a net margin of 26.48%. The company had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter last year, the company earned $0.76 earnings per share. The company’s revenue for the quarter was up 34.9% on a year-over-year basis. On average, equities research analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The firm also recently declared a dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a yield of 1.36%. Agnico Eagle Mines’s dividend payout ratio (DPR) is currently 34.04%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Bank of America upped their price objective on Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a “buy” rating in a research report on Monday, June 23rd. National Bankshares restated an “outperform” rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Raymond James Financial upgraded Agnico Eagle Mines to a “moderate buy” rating and set a $130.00 price objective for the company in a research report on Monday, June 30th. CIBC restated an “outperform” rating on shares of Agnico Eagle Mines in a research report on Tuesday. Finally, Scotiabank restated an “outperform” rating on shares of Agnico Eagle Mines in a research report on Monday, April 14th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, Agnico Eagle Mines currently has an average rating of “Buy” and a consensus target price of $136.90.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.