Pekin Hardy Strauss Inc. Increases Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Pekin Hardy Strauss Inc. increased its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 0.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 83,410 shares of the mining company’s stock after purchasing an additional 527 shares during the quarter. Agnico Eagle Mines accounts for 0.9% of Pekin Hardy Strauss Inc.’s investment portfolio, making the stock its 27th biggest position. Pekin Hardy Strauss Inc.’s holdings in Agnico Eagle Mines were worth $6,719,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in AEM. Continuum Advisory LLC boosted its stake in shares of Agnico Eagle Mines by 1,134.4% during the second quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock valued at $26,000 after purchasing an additional 363 shares during the period. FSC Wealth Advisors LLC bought a new stake in Agnico Eagle Mines in the 3rd quarter worth $32,000. Abich Financial Wealth Management LLC purchased a new position in shares of Agnico Eagle Mines in the second quarter valued at about $32,000. McClarren Financial Advisors Inc. increased its position in shares of Agnico Eagle Mines by 684.6% in the third quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock valued at $41,000 after acquiring an additional 445 shares during the period. Finally, WASHINGTON TRUST Co boosted its holdings in shares of Agnico Eagle Mines by 92.1% during the second quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock worth $48,000 after purchasing an additional 350 shares during the period. 68.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AEM. TD Securities boosted 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. UBS Group started coverage on Agnico Eagle Mines in a research note on Tuesday, September 17th. They set a “buy” rating and a $95.00 target price on the stock. 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. Royal Bank of Canada boosted their price objective on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Finally, Jefferies Financial Group upped their price objective on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, October 4th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $86.78.

Agnico Eagle Mines Stock Up 0.9 %

Shares of Agnico Eagle Mines stock opened at $84.30 on Friday. Agnico Eagle Mines Limited has a 1 year low of $44.37 and a 1 year high of $89.00. The firm has a market cap of $42.32 billion, a price-to-earnings ratio of 42.15, a PEG ratio of 0.73 and a beta of 1.09. The company has a 50-day moving average of $82.68 and a 200 day moving average of $76.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 0.83.

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.