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

Oak Harvest Investment Services purchased a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the third quarter, HoldingsChannel reports. The firm purchased 98,354 shares of the mining company’s stock, valued at approximately $7,923,000.

A number of other institutional investors and hedge funds have also made changes to their positions in AEM. TD Asset Management Inc boosted its position in shares of Agnico Eagle Mines by 24.1% during the first quarter. TD Asset Management Inc now owns 5,306,106 shares of the mining company’s stock worth $316,700,000 after buying an additional 1,031,142 shares during the period. Capital Wealth Planning LLC lifted its holdings in Agnico Eagle Mines by 62.3% during the 1st quarter. Capital Wealth Planning LLC now owns 2,620,345 shares of the mining company’s stock worth $156,304,000 after buying an additional 1,006,001 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Agnico Eagle Mines by 27.9% in the first quarter. National Bank of Canada FI now owns 4,007,554 shares of the mining company’s stock worth $239,051,000 after acquiring an additional 874,920 shares in the last quarter. First Eagle Investment Management LLC increased its position in shares of Agnico Eagle Mines by 10.8% during the first quarter. First Eagle Investment Management LLC now owns 6,891,385 shares of the mining company’s stock worth $411,106,000 after acquiring an additional 672,503 shares during the period. Finally, Progeny 3 Inc. acquired a new stake in Agnico Eagle Mines in the 2nd quarter valued at about $18,151,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $88.24 on Thursday. Agnico Eagle Mines Limited has a 52-week low of $44.37 and a 52-week high of $89.00. The business’s 50-day moving average price is $82.15 and its 200 day moving average price is $73.88. The company has a quick ratio of 0.76, a current ratio of 1.51 and a debt-to-equity ratio of 0.06. The firm 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 (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.14. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The company 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 company posted $0.65 EPS. Agnico Eagle Mines’s revenue was up 20.9% compared to the same quarter last year. On average, equities research analysts expect that Agnico Eagle Mines Limited will post 3.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

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