Focus Partners Advisor Solutions LLC acquired a new stake in Agnico Eagle Mines Limited (NYSE:AEM – Free Report) (TSE:AEM) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 2,865 shares of the mining company’s stock, valued at approximately $444,000.
Several other institutional investors have also added to or reduced their stakes in the business. Acumen Wealth Advisors LLC bought a new stake in shares of Agnico Eagle Mines in the 4th quarter worth $26,000. Jessup Wealth Management Inc bought a new stake in Agnico Eagle Mines in the 4th quarter worth about $35,000. Allied Private Wealth LLC bought a new stake in Agnico Eagle Mines in the 2nd quarter worth about $36,000. Banque Cantonale Vaudoise purchased a new position in Agnico Eagle Mines in the 4th quarter worth about $39,000. Finally, University of Texas Texas AM Investment Management Co. raised its position in Agnico Eagle Mines by 64.7% in the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 229 shares of the mining company’s stock worth $39,000 after buying an additional 90 shares during the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.
Agnico Eagle Mines Stock Down 1.1%
AEM stock opened at $186.79 on Wednesday. Agnico Eagle Mines Limited has a fifty-two week low of $130.04 and a fifty-two week high of $255.24. The business’s 50-day moving average is $157.75 and its two-hundred day moving average is $186.40. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.86. The company has a market cap of $94.68 billion, a price-to-earnings ratio of 15.98, a P/E/G ratio of 2.32 and a beta of 0.61.
Analysts Set New Price Targets
AEM has been the topic of a number of recent analyst reports. Weiss Ratings downgraded shares of Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 2nd. Bank of America decreased their price objective on shares of Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating for the company in a report on Thursday, July 9th. TD increased their price objective on shares of Agnico Eagle Mines from $251.00 to $252.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. UBS Group dropped their target price on shares of Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. Finally, Scotia cut their target price on shares of Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating for the company in a research report on Friday, July 3rd. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and an average price target of $226.00.
Get Our Latest Stock Report on Agnico Eagle Mines
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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