Agnico Eagle Mines Limited (NYSE:AEM) Stake Reduced by Euro Pacific Asset Management LLC

Euro Pacific Asset Management LLC trimmed its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 592,867 shares of the mining company’s stock after selling 16,871 shares during the quarter. Agnico Eagle Mines makes up 8.8% of Euro Pacific Asset Management LLC’s portfolio, making the stock its biggest position. Euro Pacific Asset Management LLC’s holdings in Agnico Eagle Mines were worth $47,831,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AEM. Avantax Advisory Services Inc. boosted its position in Agnico Eagle Mines by 3.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 16,616 shares of the mining company’s stock valued at $991,000 after acquiring an additional 585 shares in the last quarter. Acadian Asset Management LLC boosted its position in Agnico Eagle Mines by 12.5% during the first quarter. Acadian Asset Management LLC now owns 7,200 shares of the mining company’s stock valued at $429,000 after purchasing an additional 799 shares in the last quarter. Hillsdale Investment Management Inc. grew its stake in Agnico Eagle Mines by 1,244.4% in the first quarter. Hillsdale Investment Management Inc. now owns 12,100 shares of the mining company’s stock valued at $720,000 after purchasing an additional 11,200 shares during the last quarter. Clearbridge Investments LLC raised its holdings in Agnico Eagle Mines by 5.6% in the first quarter. Clearbridge Investments LLC now owns 2,546,594 shares of the mining company’s stock worth $151,904,000 after purchasing an additional 135,351 shares in the last quarter. Finally, UniSuper Management Pty Ltd lifted its position in shares of Agnico Eagle Mines by 89.2% during the first quarter. UniSuper Management Pty Ltd now owns 7,000 shares of the mining company’s stock valued at $418,000 after buying an additional 3,300 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

AEM has been the subject of several recent analyst reports. Royal Bank of Canada boosted their price objective on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Jefferies Financial Group upped their price target on Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. TD Securities boosted their target price on Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Scotiabank upped their target price on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Finally, UBS Group initiated coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price target for the company. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and an average price target of $86.78.

Agnico Eagle Mines Trading Down 1.1 %

Shares of NYSE:AEM opened at $76.76 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a 52-week low of $44.37 and a 52-week high of $89.00. The stock has a market cap of $38.51 billion, a price-to-earnings ratio of 38.38, a PEG ratio of 0.66 and a beta of 1.09. The business has a 50-day moving average price of $82.43 and a 200-day moving average price of $75.34.

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.