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

Key Points

• Oak Harvest Investment Services increased its stake in Agnico Eagle Mines Limited by 7.9%, acquiring an additional 8,106 shares and making the mining company its 11th biggest position, valued at $11,978,000.
• Several institutional investors have also increased their positions in Agnico Eagle Mines, with a total of 68.34% of the company's stock now owned by hedge funds and other institutions.
• Agnico Eagle Mines reported a quarterly EPS of $1.94, beating estimates, with revenue of $2.86 billion, reflecting a year-over-year increase of 35.6%.

Oak Harvest Investment Services raised its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 7.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 110,489 shares of the mining company's stock after purchasing an additional 8,106 shares during the quarter. Agnico Eagle Mines accounts for about 1.7% of Oak Harvest Investment Services' portfolio, making the stock its 11th biggest position. Oak Harvest Investment Services' holdings in Agnico Eagle Mines were worth $11,978,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of AEM. Brighton Jones LLC grew its stake in Agnico Eagle Mines by 11.5% in the 4th quarter. Brighton Jones LLC now owns 3,216 shares of the mining company's stock valued at $252,000 after purchasing an additional 331 shares during the period. Marshall Wace LLP bought a new stake in Agnico Eagle Mines during the 4th quarter worth approximately $422,000. First Trust Advisors LP raised its position in shares of Agnico Eagle Mines by 5.2% in the fourth quarter. First Trust Advisors LP now owns 169,101 shares of the mining company's stock worth $13,226,000 after buying an additional 8,394 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Agnico Eagle Mines by 147.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,828 shares of the mining company's stock valued at $143,000 after acquiring an additional 1,089 shares during the last quarter. Finally, Coppell Advisory Solutions LLC increased its holdings in shares of Agnico Eagle Mines by 235.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 469 shares of the mining company's stock worth $37,000 after buying an additional 329 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Price Performance

Shares of AEM traded down $0.39 during mid-day trading on Thursday, hitting $139.11. 1,850,243 shares of the stock were exchanged, compared to its average volume of 2,922,942. Agnico Eagle Mines Limited has a 52-week low of $75.17 and a 52-week high of $140.45. The company has a market cap of $69.95 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 0.96 and a beta of 0.44. The firm has a 50-day moving average of $126.30 and a two-hundred day moving average of $115.42. 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 posted its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.11. The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.46 billion. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The company's revenue for the quarter was up 35.6% on a year-over-year basis. During the same period last year, the company earned $1.07 EPS. On average, equities analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Wall Street Analyst Weigh In

AEM has been the topic of several research reports. Bank of America lifted their price target on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Lake Street Capital reaffirmed a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. Royal Bank Of Canada increased their price objective on Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. TD Securities upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a report on Thursday, July 17th. Finally, National Bankshares reiterated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. Five equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Agnico Eagle Mines presently has an average rating of "Buy" and an average price target of $136.90.

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.