Pin Oak Investment Advisors Inc. Makes New $1.12 Million Investment in Agnico Eagle Mines Limited $AEM

Key Points

• Pin Oak Investment Advisors purchased 7,240 Agnico Eagle Mines shares worth approximately $1.12 million in the second quarter.
• Institutional investors own 68.34% of AEM, with several firms initiating or increasing positions during the period.
• Agnico Eagle reported quarterly EPS of $3.05, beating estimates of $2.89, while revenue rose 35% year over year to $3.77 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $226.

Pin Oak Investment Advisors Inc. acquired a new position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 7,240 shares of the mining company's stock, valued at approximately $1,123,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AEM. K.J. Harrison & Partners Inc acquired a new stake in Agnico Eagle Mines in the 2nd quarter valued at $6,923,000. BIP Wealth LLC acquired a new stake in shares of Agnico Eagle Mines in the 2nd quarter valued at $1,167,000. Annex Advisory Services LLC grew its holdings in shares of Agnico Eagle Mines by 70.5% in the 2nd quarter. Annex Advisory Services LLC now owns 29,007 shares of the mining company's stock worth $4,500,000 after purchasing an additional 11,995 shares during the last quarter. RFG Advisory LLC acquired a new stake in shares of Agnico Eagle Mines during the 4th quarter worth about $1,122,000. Finally, Harvest Portfolios Group Inc. lifted its holdings in Agnico Eagle Mines by 45.7% during the 4th quarter. Harvest Portfolios Group Inc. now owns 137,292 shares of the mining company's stock valued at $23,282,000 after purchasing an additional 43,051 shares during the last quarter. Institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Stock Down 4.2%

Shares of NYSE:AEM opened at $206.41 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.86 and a quick ratio of 2.02. The stock has a market cap of $104.63 billion, a price-to-earnings ratio of 17.66, a P/E/G ratio of 2.68 and a beta of 0.60. The company has a 50 day moving average of $165.50 and a 200-day moving average of $187.44. Agnico Eagle Mines Limited has a one year low of $134.38 and a one year high of $255.24.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $3.78 billion. During the same period last year, the firm earned $1.94 earnings per share. The business's revenue for the quarter was up 35.0% on a year-over-year basis. On average, sell-side analysts forecast that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AEM. Weiss Ratings cut shares of Agnico Eagle Mines from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, July 2nd. Royal Bank Of Canada reduced their price objective on Agnico Eagle Mines from $230.00 to $210.00 and set a "sector perform" rating on the stock in a research note on Thursday, July 9th. Scotia cut their price target on Agnico Eagle Mines from $280.00 to $278.00 and set a "sector outperform" rating for the company in a report on Friday, July 3rd. Bank of America lowered their price objective on shares of Agnico Eagle Mines from $302.00 to $240.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Finally, Wall Street Zen cut shares of Agnico Eagle Mines from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Agnico Eagle Mines has an average rating of "Moderate Buy" and an average target price of $226.00.

Agnico Eagle Mines 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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