Royal Fund Management LLC Purchases 1,461 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Royal Fund Management LLC grew its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 5.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 26,412 shares of the mining company’s stock after acquiring an additional 1,461 shares during the quarter. Royal Fund Management LLC’s holdings in Agnico Eagle Mines were worth $1,575,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AEM. Bruce G. Allen Investments LLC purchased a new position in Agnico Eagle Mines in the fourth quarter worth about $33,000. CVA Family Office LLC bought a new position in shares of Agnico Eagle Mines during the 4th quarter valued at approximately $36,000. Scarborough Advisors LLC purchased a new stake in Agnico Eagle Mines during the 4th quarter valued at $47,000. Atlantic Edge Private Wealth Management LLC bought a new stake in Agnico Eagle Mines in the fourth quarter worth $49,000. Finally, Creekmur Asset Management LLC purchased a new position in Agnico Eagle Mines during the fourth quarter worth $54,000. 68.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AEM shares. National Bank Financial reissued an “outperform overweight” rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. TD Securities increased their price objective on shares of Agnico Eagle Mines from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Scotiabank boosted their target price on Agnico Eagle Mines from $71.00 to $81.00 and gave the company a “sector outperform” rating in a research report on Thursday, May 23rd. Citigroup increased their price target on Agnico Eagle Mines from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Finally, Jefferies Financial Group boosted their price objective on Agnico Eagle Mines from $58.00 to $59.00 and gave the company a “hold” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.22.

Agnico Eagle Mines Stock Performance

Shares of NYSE:AEM traded up $0.56 on Monday, hitting $65.79. 111,809 shares of the company were exchanged, compared to its average volume of 3,027,222. The company has a current ratio of 2.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The stock’s 50 day moving average price is $66.01 and its 200 day moving average price is $57.55. Agnico Eagle Mines Limited has a 1-year low of $43.22 and a 1-year high of $71.50. The firm has a market capitalization of $32.91 billion, a P/E ratio of 68.66, a price-to-earnings-growth ratio of 0.73 and a beta of 1.11.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, April 25th. The mining company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.16. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The company’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period last year, the business posted $0.57 earnings per share. Sell-side analysts predict that Agnico Eagle Mines Limited will post 3.16 EPS for the current year.

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.