Harvest Portfolios Group Inc. Grows Stock Position in Agnico Eagle Mines Limited $AEM

Harvest Portfolios Group Inc. raised its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 180.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,977 shares of the mining company’s stock after buying an additional 10,285 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Agnico Eagle Mines were worth $1,904,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AEM. Ameritas Advisory Services LLC purchased a new stake in Agnico Eagle Mines in the 2nd quarter worth about $25,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Agnico Eagle Mines in the first quarter worth about $26,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Agnico Eagle Mines in the first quarter worth about $26,000. Private Trust Co. NA raised its position in shares of Agnico Eagle Mines by 454.9% in the first quarter. Private Trust Co. NA now owns 283 shares of the mining company’s stock valued at $31,000 after purchasing an additional 232 shares during the period. Finally, City State Bank lifted its stake in shares of Agnico Eagle Mines by 69.2% during the 2nd quarter. City State Bank now owns 269 shares of the mining company’s stock valued at $32,000 after buying an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Wall Street Zen upgraded Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Bank of America increased their price objective on Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Raymond James Financial raised their target price on Agnico Eagle Mines from $155.00 to $182.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Finally, UBS Group boosted their price objective on shares of Agnico Eagle Mines from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Four analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $184.50.

Agnico Eagle Mines Trading Up 1.2%

Shares of AEM opened at $161.28 on Friday. Agnico Eagle Mines Limited has a 1-year low of $75.17 and a 1-year high of $187.50. The company has a market capitalization of $81.04 billion, a P/E ratio of 23.54, a P/E/G ratio of 0.70 and a beta of 0.45. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16. The firm’s 50 day simple moving average is $161.41 and its 200 day simple moving average is $135.94.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.40. The business had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.97%. During the same quarter in the previous year, the company earned $1.14 EPS. Sell-side analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal 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.