Oakmont Investment Advisors Inc. bought a new stake in Agnico Eagle Mines Limited (NYSE:AEM – Free Report) (TSE:AEM) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,187 shares of the mining company’s stock, valued at approximately $494,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in AEM. Acumen Wealth Advisors LLC bought a new stake in shares of Agnico Eagle Mines in the 4th quarter valued at $26,000. Dunhill Financial LLC bought a new position in Agnico Eagle Mines during the second quarter worth $31,000. Fiduciary Financial Advisors bought a new position in Agnico Eagle Mines during the second quarter worth $32,000. Jessup Wealth Management Inc acquired a new position in Agnico Eagle Mines in the fourth quarter valued at $35,000. Finally, Allied Private Wealth LLC acquired a new position in Agnico Eagle Mines in the second quarter valued at $36,000. Institutional investors and hedge funds own 68.34% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the company. UBS Group decreased their price target on Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Canadian Imperial Bank of Commerce set a $285.00 price objective on Agnico Eagle Mines in a research note on Thursday, July 16th. Bank of America decreased their target price on Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Raymond James Financial lowered their target price on Agnico Eagle Mines from $230.00 to $225.00 and set an “outperform” rating for the company in a report on Friday. Finally, Jefferies Financial Group raised Agnico Eagle Mines from a “hold” rating to a “buy” rating and boosted their price target for the company from $187.00 to $200.00 in a research note on Monday, July 6th. Twelve research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $226.00.
Agnico Eagle Mines Trading Down 1.1%
NYSE:AEM opened at $204.75 on Friday. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $103.79 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 2.58 and a beta of 0.67. The firm has a fifty day simple moving average of $169.72 and a two-hundred day simple moving average of $187.05. Agnico Eagle Mines Limited has a 12 month low of $134.38 and a 12 month high of $255.24.
Agnico Eagle Mines (NYSE:AEM – Get Free Report) (TSE:AEM) last posted its quarterly earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.16. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the previous year, the firm posted $1.94 earnings per share. The business’s revenue was up 35.0% compared to the same quarter last year. Analysts expect that Agnico Eagle Mines Limited will post 11.56 EPS for the current fiscal year.
Agnico Eagle Mines Company Profile
Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.
Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.
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