Moors & Cabot Inc. Sells 1,596 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Moors & Cabot Inc. lessened its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 7.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,876 shares of the mining company’s stock after selling 1,596 shares during the quarter. Moors & Cabot Inc.’s holdings in Agnico Eagle Mines were worth $1,521,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Manning & Napier Advisors LLC purchased a new position in Agnico Eagle Mines in the second quarter worth about $2,595,000. Tidal Investments LLC raised its holdings in Agnico Eagle Mines by 87.8% during the 1st quarter. Tidal Investments LLC now owns 20,598 shares of the mining company’s stock valued at $1,195,000 after buying an additional 9,628 shares during the period. M&G Plc bought a new stake in Agnico Eagle Mines in the second quarter worth $1,802,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Agnico Eagle Mines during the second quarter valued at $7,084,000. Finally, Swiss National Bank lifted its holdings in shares of Agnico Eagle Mines by 0.6% in the 3rd quarter. Swiss National Bank now owns 1,506,558 shares of the mining company’s stock worth $121,558,000 after acquiring an additional 9,400 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AEM shares. TD Securities increased their price objective on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Scotiabank raised their price target on Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. UBS Group initiated coverage on Agnico Eagle Mines in a research report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price objective on the stock. Jefferies Financial Group lifted their target price 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. Finally, Royal Bank of Canada increased their price objective on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and an average target price of $86.78.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $83.57 on Friday. The firm has a market capitalization of $41.96 billion, a P/E ratio of 41.79, a PEG ratio of 0.72 and a beta of 1.09. Agnico Eagle Mines Limited has a 52 week low of $44.37 and a 52 week high of $89.00. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The company has a 50 day moving average price of $82.65 and a 200 day moving average price of $75.83.

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.