Oak Harvest Investment Services Lowers Stake in Agnico Eagle Mines Limited $AEM

Oak Harvest Investment Services lowered its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 4.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 105,632 shares of the mining company’s stock after selling 4,857 shares during the period. Agnico Eagle Mines accounts for about 1.6% of Oak Harvest Investment Services’ holdings, making the stock its 13th largest holding. Oak Harvest Investment Services’ holdings in Agnico Eagle Mines were worth $12,563,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the company. Hussman Strategic Advisors Inc. raised its position in shares of Agnico Eagle Mines by 87.5% during the 2nd quarter. Hussman Strategic Advisors Inc. now owns 153,000 shares of the mining company’s stock valued at $18,196,000 after purchasing an additional 71,400 shares during the period. Kingswood Wealth Advisors LLC bought a new stake in shares of Agnico Eagle Mines in the second quarter worth about $232,000. Zurich Insurance Group Ltd FI grew its holdings in Agnico Eagle Mines by 32.6% during the 1st quarter. Zurich Insurance Group Ltd FI now owns 509,058 shares of the mining company’s stock valued at $55,214,000 after buying an additional 125,223 shares in the last quarter. Atticus Wealth Management LLC purchased a new stake in shares of Agnico Eagle Mines during the 2nd quarter worth approximately $222,000. Finally, Sienna Gestion boosted its position in shares of Agnico Eagle Mines by 10.3% during the 2nd quarter. Sienna Gestion now owns 95,400 shares of the mining company’s stock valued at $10,357,000 after acquiring an additional 8,900 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $168.67 on Friday. The business’s fifty day simple moving average is $163.19 and its 200-day simple moving average is $137.32. The company has a market cap of $84.75 billion, a PE ratio of 24.62, a PEG ratio of 0.70 and a beta of 0.45. Agnico Eagle Mines Limited has a 12-month low of $75.17 and a 12-month high of $187.50. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.40. The firm had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.93 billion. Agnico Eagle Mines had a return on equity of 15.97% and a net margin of 32.62%.During the same period in the prior year, the firm earned $1.14 EPS. Analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on AEM shares. UBS Group upped their target price on shares of Agnico Eagle Mines from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Wall Street Zen lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 9th. Weiss Ratings lowered Agnico Eagle Mines from a “buy (a)” rating to a “buy (b+)” rating in a research note on Friday, October 24th. Raymond James Financial increased 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, Scotiabank reiterated an “outperform” rating on shares of Agnico Eagle Mines in a report on Thursday, October 23rd. Four analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $184.50.

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.