Harvest Portfolios Group Inc. Grows Position in Agnico Eagle Mines Limited $AEM

Harvest Portfolios Group Inc. boosted its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 45.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 137,292 shares of the mining company’s stock after purchasing an additional 43,051 shares during the period. Harvest Portfolios Group Inc.’s holdings in Agnico Eagle Mines were worth $23,282,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. MCF Advisors LLC purchased a new position in Agnico Eagle Mines in the third quarter worth about $34,000. Lodestone Wealth Management LLC purchased a new position in Agnico Eagle Mines in the fourth quarter worth about $35,000. Abound Wealth Management boosted its position in Agnico Eagle Mines by 99.0% in the fourth quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock worth $35,000 after purchasing an additional 104 shares during the last quarter. Caitlin John LLC purchased a new position in Agnico Eagle Mines in the third quarter worth about $36,000. Finally, Bangor Savings Bank purchased a new position in Agnico Eagle Mines in the fourth quarter worth about $37,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AEM has been the topic of several recent research reports. Wall Street Zen downgraded Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 11th. Zacks Research downgraded Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Erste Group Bank downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Tuesday, March 24th. TD lifted their target price on Agnico Eagle Mines from $251.00 to $252.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Finally, TD Securities lifted their target price on Agnico Eagle Mines from $241.00 to $251.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.18.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $173.12 on Wednesday. The stock has a market capitalization of $86.64 billion, a PE ratio of 16.27, a P/E/G ratio of 3.91 and a beta of 0.58. The business has a 50 day simple moving average of $200.82 and a two-hundred day simple moving average of $193.62. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18. Agnico Eagle Mines Limited has a 1-year low of $108.22 and a 1-year high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.21. The business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The firm’s revenue for the quarter was up 66.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.53 EPS. On average, research analysts predict that Agnico Eagle Mines Limited will post 13.14 EPS for the current fiscal year.

Trending Headlines about Agnico Eagle Mines

Here are the key news stories impacting Agnico Eagle Mines this week:

• Positive Sentiment: Agnico Eagle approved the Hope Bay investment decision, advancing a new Arctic mine that could produce 400,000 to 435,000 ounces of gold annually and support long-term growth. Article Title
• Positive Sentiment: News reports say Agnico is moving ahead with the Hope Bay gold mine project, signaling confidence in the project’s economics and future production growth. Article Title
• Positive Sentiment: Analysts and media coverage highlighted Hope Bay as part of Agnico’s ambitious growth push, which may improve investor sentiment around the company’s production profile. Article Title
• Positive Sentiment: Seeking Alpha noted Agnico plans to build the Hope Bay mine with an estimated $1.7 billion investment, reinforcing the scale of the growth opportunity. Article Title
• Neutral Sentiment: Other mining-sector coverage on Barrick’s production trends is not directly about AEM, but broader gold-production news may influence sentiment for the group. Article Title

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.