Erste Asset Management GmbH Invests $10.10 Million in Agnico Eagle Mines Limited (NYSE:AEM)

Erste Asset Management GmbH purchased a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the third quarter, Holdings Channel.com reports. The firm purchased 123,400 shares of the mining company’s stock, valued at approximately $10,102,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Continuum Advisory LLC boosted its position 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 buying an additional 363 shares during the last quarter. FSC Wealth Advisors LLC bought a new position in Agnico Eagle Mines during the 3rd quarter valued at $32,000. Abich Financial Wealth Management LLC purchased a new position in Agnico Eagle Mines during the 2nd quarter worth $32,000. McClarren Financial Advisors Inc. grew its stake in shares of 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 in the last quarter. Finally, WASHINGTON TRUST Co raised its holdings 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 purchasing an additional 350 shares during the last quarter. 68.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on AEM. UBS Group started coverage on shares of Agnico Eagle Mines in a report on Tuesday, September 17th. They set a “buy” rating and a $95.00 price target on the stock. Jefferies Financial Group boosted their target price 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. Royal Bank of Canada increased their price target on 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, Scotiabank boosted 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. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $86.78.

Agnico Eagle Mines Trading Up 1.0 %

Shares of AEM opened at $84.42 on Monday. Agnico Eagle Mines Limited has a fifty-two week low of $44.37 and a fifty-two week high of $89.00. The business has a 50-day moving average of $82.80 and a 200 day moving average of $76.57. The firm has a market cap of $42.38 billion, a P/E ratio of 42.21, a price-to-earnings-growth ratio of 0.66 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75.

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.