Titan Investment Solutions Ltd purchased a new position in Agnico Eagle Mines Limited (NYSE:AEM – Free Report) (TSE:AEM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 9,770 shares of the mining company’s stock, valued at approximately $1,656,000.
A number of other hedge funds also recently modified their holdings of AEM. Norges Bank bought a new stake in shares of Agnico Eagle Mines in the 4th quarter worth approximately $1,367,783,000. Capital World Investors raised its holdings in shares of Agnico Eagle Mines by 20.0% in the 3rd quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock worth $3,497,470,000 after purchasing an additional 3,462,968 shares during the period. Clearbridge Investments LLC raised its holdings in shares of Agnico Eagle Mines by 60.5% in the 4th quarter. Clearbridge Investments LLC now owns 2,149,463 shares of the mining company’s stock worth $364,398,000 after purchasing an additional 810,543 shares during the period. Lazard Asset Management LLC raised its holdings in shares of Agnico Eagle Mines by 566.2% in the 3rd quarter. Lazard Asset Management LLC now owns 888,239 shares of the mining company’s stock worth $149,593,000 after purchasing an additional 754,919 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Agnico Eagle Mines by 26,635.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 736,835 shares of the mining company’s stock worth $124,916,000 after purchasing an additional 734,079 shares during the period. Institutional investors own 68.34% of the company’s stock.
Agnico Eagle Mines Trading Up 3.1%
Shares of AEM stock opened at $162.70 on Friday. The company’s fifty day simple moving average is $190.08 and its two-hundred day simple moving average is $194.36. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18. Agnico Eagle Mines Limited has a 1 year low of $114.60 and a 1 year high of $255.24. The stock has a market capitalization of $81.43 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 3.46 and a beta of 0.56.
Wall Street Analyst Weigh In
A number of research firms recently commented on AEM. Weiss Ratings cut shares of Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, May 13th. Barclays began coverage on shares of Agnico Eagle Mines in a report on Thursday, May 21st. They issued an “overweight” rating and a $213.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. ATB Cormark Capital Markets raised shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a report on Monday, May 4th. Finally, Wall Street Zen cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $236.08.
View Our Latest Research Report on Agnico Eagle Mines
About Agnico Eagle Mines
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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