Oakmont Investment Advisors Inc. Takes $494,000 Position in Agnico Eagle Mines Limited $AEM

Oakmont Investment Advisors Inc. bought a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,187 shares of the mining company’s stock, valued at approximately $494,000.

A number of other large investors also recently modified their holdings of AEM. Munich Reinsurance Co Stock Corp in Munich acquired a new stake in Agnico Eagle Mines in the 2nd quarter valued at $2,266,000. denkapparat Operations GmbH raised its holdings in Agnico Eagle Mines by 58.5% during the second quarter. denkapparat Operations GmbH now owns 8,222 shares of the mining company’s stock worth $1,275,000 after buying an additional 3,036 shares during the last quarter. Nykredit A S acquired a new position in Agnico Eagle Mines during the second quarter worth $32,165,000. XML Financial LLC lifted its stake in shares of Agnico Eagle Mines by 11.1% in the second quarter. XML Financial LLC now owns 2,994 shares of the mining company’s stock valued at $464,000 after buying an additional 300 shares in the last quarter. Finally, Nwam LLC lifted its stake in shares of Agnico Eagle Mines by 3.6% in the second quarter. Nwam LLC now owns 32,282 shares of the mining company’s stock valued at $5,008,000 after buying an additional 1,130 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AEM has been the subject of several recent research reports. Scotiabank decreased their target price 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. JPMorgan Chase & Co. raised their price target on shares of Agnico Eagle Mines from $175.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Zacks Research lowered Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Barclays lowered their price objective on Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Finally, UBS Group dropped their target price on Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. Twelve research 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $226.00.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $204.75 on Friday. The firm has a 50-day moving average of $169.72 and a 200-day moving average of $187.05. The company has a market cap of $103.79 billion, a P/E ratio of 17.51, a P/E/G ratio of 2.58 and a beta of 0.67. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.86 and a quick ratio of 2.02. 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) (TSE:AEM) last released its quarterly earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share 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 company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same period last year, the firm earned $1.94 earnings per share. The firm’s revenue was up 35.0% on a year-over-year basis. Equities research analysts forecast 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.