Oak Harvest Investment Services Acquires Shares of 98,354 Agnico Eagle Mines Limited (NYSE:AEM)

Oak Harvest Investment Services acquired a new position in 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 institutional investor acquired 98,354 shares of the mining company’s stock, valued at approximately $7,923,000.

Other institutional investors have also recently made changes to their positions in the company. Continuum Advisory LLC boosted its position in Agnico Eagle Mines by 1,134.4% in the 2nd quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock worth $26,000 after purchasing an additional 363 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new stake in Agnico Eagle Mines during the second quarter worth $32,000. FSC Wealth Advisors LLC purchased a new stake in Agnico Eagle Mines during the third quarter worth $32,000. McClarren Financial Advisors Inc. grew its position in Agnico Eagle Mines by 684.6% during the third quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock valued at $41,000 after buying an additional 445 shares during the period. Finally, WASHINGTON TRUST Co increased its holdings in Agnico Eagle Mines by 92.1% in the second quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock valued at $48,000 after buying an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $88.24 on Thursday. The company has a market cap of $44.14 billion, a P/E ratio of 92.88, a P/E/G ratio of 0.71 and a beta of 1.10. Agnico Eagle Mines Limited has a twelve month low of $44.37 and a twelve month high of $89.00. The company’s 50-day moving average price is $82.15 and its 200-day moving average price is $73.88. The company has a current ratio of 1.51, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.14. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the firm posted $0.65 EPS. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. On average, sell-side analysts forecast that Agnico Eagle Mines Limited will post 3.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on AEM. Scotiabank lifted their price target on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. UBS Group assumed coverage on Agnico Eagle Mines in a research note on Tuesday, September 17th. They set a “buy” rating and a $95.00 target price for the company. CIBC lifted their price target on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Jefferies Financial Group upped their price objective on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Finally, TD Securities increased their price objective on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and a consensus price target of $86.78.

About Agnico Eagle Mines

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.