Oliver Lagore Vanvalin Investment Group Invests $658,000 in Agnico Eagle Mines Limited $AEM

Key Points

• Oliver Lagore Vanvalin Investment Group acquired 6,074 shares of Agnico Eagle Mines Limited, valued at approximately $658,000, during the second quarter.
• Agnico Eagle Mines reported a 35.6% year-over-year increase in revenue for the last quarter, totaling $2.86 billion, and earnings per share of $1.94, exceeding estimates.
• Analyst ratings for Agnico Eagle Mines have been positive, with multiple firms assigning a "buy" or "strong buy" rating, and an average price target of $136.90.

Oliver Lagore Vanvalin Investment Group bought a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 6,074 shares of the mining company's stock, valued at approximately $658,000.

A number of other large investors also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA increased its stake in shares of Agnico Eagle Mines by 3.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 13,441,198 shares of the mining company's stock valued at $1,457,160,000 after acquiring an additional 499,362 shares during the last quarter. TD Asset Management Inc increased its stake in shares of Agnico Eagle Mines by 42.8% in the 1st quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company's stock valued at $978,553,000 after acquiring an additional 2,709,005 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Agnico Eagle Mines by 11.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company's stock valued at $728,214,000 after acquiring an additional 673,400 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Agnico Eagle Mines by 57.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,344,302 shares of the mining company's stock valued at $254,029,000 after acquiring an additional 854,924 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Agnico Eagle Mines by 10.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,977,395 shares of the mining company's stock worth $214,361,000 after purchasing an additional 189,935 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Bank of America raised their target price on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Lake Street Capital reissued a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. CIBC reissued an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. National Bankshares reissued an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. Finally, UBS Group raised their target price on shares of Agnico Eagle Mines from $125.00 to $160.00 and gave the company a "neutral" rating in a research note on Friday. Five analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $141.40.

Agnico Eagle Mines Trading Up 1.0%

Shares of Agnico Eagle Mines stock traded up $1.67 on Tuesday, reaching $162.86. 1,211,847 shares of the company's stock were exchanged, compared to its average volume of 2,977,128. The company has a market capitalization of $81.89 billion, a P/E ratio of 27.68, a price-to-earnings-growth ratio of 1.08 and a beta of 0.44. Agnico Eagle Mines Limited has a 52 week low of $75.17 and a 52 week high of $164.64. The firm's 50-day moving average is $137.76 and its two-hundred day moving average is $122.45. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, beating analysts' consensus estimates of $1.83 by $0.11. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period last year, the firm earned $1.07 earnings per share. The business's quarterly revenue was up 35.6% compared to the same quarter last year. Sell-side analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

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.