Bamco Inc. NY Reduces Position in Agnico Eagle Mines Limited (NYSE:AEM)

Bamco Inc. NY trimmed its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 9.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,746 shares of the mining company’s stock after selling 5,424 shares during the period. Bamco Inc. NY’s holdings in Agnico Eagle Mines were worth $4,249,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Continuum Advisory LLC lifted its stake in Agnico Eagle Mines by 1,134.4% in the 2nd quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock worth $26,000 after purchasing an additional 363 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of Agnico Eagle Mines in the second quarter valued at approximately $32,000. FSC Wealth Advisors LLC acquired a new position in Agnico Eagle Mines during the third quarter worth $32,000. McClarren Financial Advisors Inc. boosted its stake in Agnico Eagle Mines by 684.6% during the third quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock worth $41,000 after buying an additional 445 shares during the last quarter. Finally, WASHINGTON TRUST Co increased its stake in shares of 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 acquiring an additional 350 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Up 3.8 %

Shares of NYSE AEM opened at $85.99 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $82.81 and its two-hundred day moving average is $76.72. Agnico Eagle Mines Limited has a 52-week low of $44.37 and a 52-week high of $89.00. The firm has a market cap of $43.17 billion, a price-to-earnings ratio of 43.00, a PEG ratio of 0.65 and a beta of 1.07.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. UBS Group started coverage on shares of Agnico Eagle Mines in a research report on Tuesday, September 17th. They set a “buy” rating and a $95.00 price target on the stock. Jefferies Financial Group boosted their target price on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a report on Friday, October 4th. Scotiabank raised their price target on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Finally, Royal Bank of Canada upped their price objective on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $86.78.

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.