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

Pin Oak Investment Advisors Inc. purchased a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,240 shares of the mining company’s stock, valued at approximately $1,123,000.

Several other hedge funds and other institutional investors have also bought and sold shares of AEM. K.J. Harrison & Partners Inc bought a new position in Agnico Eagle Mines during the 2nd quarter valued at $6,923,000. BIP Wealth LLC bought a new position in shares of Agnico Eagle Mines during the second quarter worth about $1,167,000. Annex Advisory Services LLC grew its stake in Agnico Eagle Mines by 70.5% in the second 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 in the last quarter. RFG Advisory LLC acquired a new position in Agnico Eagle Mines in the fourth quarter worth about $1,122,000. Finally, Harvest Portfolios Group Inc. raised its stake in Agnico Eagle Mines by 45.7% during the fourth quarter. Harvest Portfolios Group Inc. now owns 137,292 shares of the mining company’s stock valued at $23,282,000 after buying an additional 43,051 shares in the last quarter. Institutional investors own 68.34% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on AEM. Zacks Research lowered Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Citigroup dropped their target price on shares of Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, July 27th. Scotiabank lowered their price objective on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating for the company in a research report on Tuesday, July 14th. ATB Cormark Capital Markets raised shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a report on Monday, May 4th. Finally, Jefferies Financial Group upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating and increased their price target for the stock from $187.00 to $200.00 in a research report on Monday, July 6th. Twelve investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $226.00.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM opened at $206.41 on Friday. The firm’s 50 day moving average is $165.50 and its two-hundred day moving average is $187.44. The firm has a market capitalization of $104.63 billion, a P/E ratio of 17.66, a PEG ratio of 2.68 and a beta of 0.60. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a 52 week low of $134.38 and a 52 week high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.16. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.The business 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% on a year-over-year basis. Analysts anticipate that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current year.

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.