Van ECK Associates Corp lifted its stake in Agnico Eagle Mines Limited (NYSE:AEM – Free Report) (TSE:AEM) by 21.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,225,477 shares of the mining company’s stock after purchasing an additional 3,062,705 shares during the period. Agnico Eagle Mines accounts for about 2.4% of Van ECK Associates Corp’s investment portfolio, making the stock its 5th biggest holding. Van ECK Associates Corp owned about 3.44% of Agnico Eagle Mines worth $2,920,258,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently bought and sold shares of AEM. Abound Wealth Management lifted its position in Agnico Eagle Mines by 99.0% during the 4th quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock valued at $35,000 after acquiring an additional 104 shares during the period. Lodestone Wealth Management LLC purchased a new stake in shares of Agnico Eagle Mines during the fourth quarter valued at about $35,000. Jessup Wealth Management Inc purchased a new position in shares of Agnico Eagle Mines in the 4th quarter valued at approximately $35,000. Caitlin John LLC purchased a new position in shares of Agnico Eagle Mines in the 3rd quarter valued at approximately $36,000. Finally, Bangor Savings Bank purchased a new position in shares of Agnico Eagle Mines in the 4th quarter valued at approximately $37,000. 68.34% of the stock is owned by hedge funds and other institutional investors.
Agnico Eagle Mines Stock Performance
Shares of Agnico Eagle Mines stock opened at $162.70 on Friday. Agnico Eagle Mines Limited has a one year low of $114.60 and a one year high of $255.24. The company has a market cap of $81.43 billion, a PE ratio of 15.29, a P/E/G ratio of 3.46 and a beta of 0.56. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15. The business has a 50-day simple moving average of $190.08 and a 200-day simple moving average of $194.36.
Analyst Ratings Changes
A number of equities research analysts have recently commented on AEM shares. Weiss Ratings cut shares of Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. TD raised their price objective on Agnico Eagle Mines from $251.00 to $252.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Zacks Research lowered Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. UBS Group reduced their price target on Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating on the stock in a report on Friday, March 27th. Finally, Scotiabank reiterated an “outperform” rating and set a $280.00 price target on shares of Agnico Eagle Mines in a report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $236.08.
Check Out Our Latest Report on AEM
Agnico Eagle Mines Company Profile
Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.
Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.
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