CWA Asset Management Group LLC Makes New Investment in Agnico Eagle Mines Limited (NYSE:AEM)

CWA Asset Management Group LLC bought a new position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 56,668 shares of the mining company’s stock, valued at approximately $4,565,000.

A number of other institutional investors have also bought and sold shares of AEM. Norden Group LLC raised its position in shares of Agnico Eagle Mines by 67.5% during the 1st quarter. Norden Group LLC now owns 7,353 shares of the mining company’s stock valued at $439,000 after buying an additional 2,963 shares during the period. Private Advisor Group LLC raised its position in shares of Agnico Eagle Mines by 10.6% during the 1st quarter. Private Advisor Group LLC now owns 11,189 shares of the mining company’s stock valued at $667,000 after buying an additional 1,073 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Agnico Eagle Mines during the 1st quarter valued at approximately $878,000. Envestnet Portfolio Solutions Inc. raised its position in shares of Agnico Eagle Mines by 2.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 54,123 shares of the mining company’s stock valued at $3,228,000 after buying an additional 1,141 shares during the period. Finally, Empowered Funds LLC purchased a new stake in shares of Agnico Eagle Mines during the 1st quarter valued at approximately $2,054,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AEM has been the topic of a number of research analyst reports. TD Securities boosted their target price on Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Scotiabank boosted their target price on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. UBS Group initiated coverage on Agnico Eagle Mines in a research report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 target price on the stock. Jefferies Financial Group boosted their target price on Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Finally, Royal Bank of Canada boosted their price target on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $86.78.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM opened at $83.84 on Friday. The company has a 50-day simple moving average of $82.60 and a 200-day simple moving average of $74.90. Agnico Eagle Mines Limited has a one year low of $44.37 and a one year high of $89.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75. The stock has a market capitalization of $42.07 billion, a price-to-earnings ratio of 41.92, a PEG ratio of 0.74 and a beta of 1.09.

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.