Aigen Investment Management LP Purchases New Position in Agnico Eagle Mines Limited (NYSE:AEM)

Aigen Investment Management LP purchased a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 7,529 shares of the mining company’s stock, valued at approximately $607,000.

Other large investors have also made changes to their positions in the company. Continuum Advisory LLC grew its stake in shares of Agnico Eagle Mines by 1,134.4% in the 2nd quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock valued at $26,000 after buying an additional 363 shares in the last quarter. Abich Financial Wealth Management LLC bought a new stake in shares of Agnico Eagle Mines in the 2nd quarter valued at approximately $32,000. FSC Wealth Advisors LLC bought a new stake in shares of Agnico Eagle Mines in the 3rd quarter valued at approximately $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 valued at $41,000 after buying an additional 445 shares in the last quarter. Finally, WASHINGTON TRUST Co lifted its holdings in Agnico Eagle Mines by 92.1% in the 2nd quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock worth $48,000 after purchasing an additional 350 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

Shares of NYSE AEM opened at $75.99 on Thursday. The business has a fifty day simple moving average of $82.45 and a 200 day simple moving average of $75.24. 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 firm has a market capitalization of $38.13 billion, a price-to-earnings ratio of 38.00, a PEG ratio of 0.67 and a beta of 1.09. Agnico Eagle Mines Limited has a one year low of $44.37 and a one year high of $89.00.

Wall Street Analyst Weigh In

AEM has been the subject of several analyst reports. Royal Bank of Canada boosted their target price on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. 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 report on Friday, October 4th. TD Securities boosted their target price on Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. UBS Group initiated coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 target price for the company. Finally, Scotiabank boosted their target price on Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $86.78.

About Agnico Eagle Mines

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.