Freedom Investment Management Inc. Makes New Investment in Agnico Eagle Mines Limited (NYSE:AEM)

Freedom Investment Management Inc. acquired a new position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 7,127 shares of the mining company’s stock, valued at approximately $574,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Continuum Advisory LLC lifted its position in Agnico Eagle Mines by 1,134.4% in 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 last quarter. Abich Financial Wealth Management LLC bought a new stake in Agnico Eagle Mines during the 2nd quarter valued at $32,000. FSC Wealth Advisors LLC purchased a new stake in Agnico Eagle Mines during the 3rd quarter valued at $32,000. McClarren Financial Advisors Inc. grew its holdings in Agnico Eagle Mines by 684.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock worth $41,000 after acquiring an additional 445 shares during the last quarter. Finally, WASHINGTON TRUST Co increased its position in shares of Agnico Eagle Mines by 92.1% in the second quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock valued at $48,000 after acquiring an additional 350 shares during the period. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

AEM opened at $84.50 on Friday. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06. The company has a market cap of $42.42 billion, a price-to-earnings ratio of 42.25, a price-to-earnings-growth ratio of 0.65 and a beta of 1.09. The stock has a fifty day simple moving average of $82.78 and a two-hundred day simple moving average of $76.40. Agnico Eagle Mines Limited has a 12-month low of $44.37 and a 12-month high of $89.00.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AEM. UBS Group initiated coverage on shares of Agnico Eagle Mines in a report on Tuesday, September 17th. They set a “buy” rating and a $95.00 target price for the company. Scotiabank lifted their price objective on Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. TD Securities boosted their target price on Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Jefferies Financial Group raised their price target on Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Finally, 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. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.78.

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.