Investors Buy High Volume of Put Options on Agnico Eagle Mines (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) was the target of some unusual options trading on Tuesday. Investors bought 10,389 put options on the stock. This represents an increase of 101% compared to the average volume of 5,181 put options.

Analyst Ratings Changes

Several analysts recently issued reports on AEM shares. CIBC increased their target price on Agnico Eagle Mines from $81.00 to $101.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. UBS Group began coverage on shares of Agnico Eagle Mines in a report on Tuesday, September 17th. They set a “buy” rating and a $95.00 price objective for the company. Scotiabank boosted their target price on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Jefferies Financial Group upped their target price on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Finally, TD Securities raised their price target on Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and a consensus price target of $86.78.

Institutional Trading of Agnico Eagle Mines

Several institutional investors and hedge funds have recently made changes to their positions in AEM. GSA Capital Partners LLP increased its stake in Agnico Eagle Mines by 132.2% in the 3rd quarter. GSA Capital Partners LLP now owns 18,472 shares of the mining company’s stock worth $1,488,000 after buying an additional 10,516 shares during the period. Tacita Capital Inc increased its position in shares of Agnico Eagle Mines by 13.1% during the third quarter. Tacita Capital Inc now owns 4,570 shares of the mining company’s stock worth $369,000 after acquiring an additional 530 shares during the period. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management purchased a new stake in shares of Agnico Eagle Mines in the third quarter valued at approximately $6,847,000. Baker Avenue Asset Management LP bought a new position in Agnico Eagle Mines in the third quarter worth approximately $242,000. Finally, Sigma Planning Corp purchased a new position in Agnico Eagle Mines during the 3rd quarter worth $208,000. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Trading Down 0.3 %

Shares of AEM traded down $0.24 during mid-day trading on Tuesday, reaching $85.65. 548,494 shares of the company’s stock traded hands, compared to its average volume of 2,649,199. The stock’s 50-day moving average is $82.38 and its two-hundred day moving average is $74.46. Agnico Eagle Mines has a 12 month low of $44.37 and a 12 month high of $89.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 0.83. The stock has a market cap of $42.97 billion, a P/E ratio of 42.64, a P/E/G ratio of 0.74 and a beta of 1.09.

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.