Short Interest in Agnico Eagle Mines Limited (NYSE:AEM) Expands By 19.8%

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) saw a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 4,110,000 shares, an increase of 19.8% from the December 31st total of 3,430,000 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average daily trading volume, of 1,990,000 shares, the short-interest ratio is presently 2.1 days.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of institutional investors and hedge funds have recently modified their holdings of AEM. Private Advisor Group LLC raised its holdings in shares of Agnico Eagle Mines by 6.1% during the fourth quarter. Private Advisor Group LLC now owns 9,626 shares of the mining company’s stock worth $753,000 after acquiring an additional 550 shares in the last quarter. Kestra Investment Management LLC bought a new position in Agnico Eagle Mines during the fourth quarter valued at approximately $50,000. D.A. Davidson & CO. raised its position in Agnico Eagle Mines by 11.8% during the fourth quarter. D.A. Davidson & CO. now owns 13,676 shares of the mining company’s stock valued at $1,070,000 after acquiring an additional 1,440 shares in the last quarter. CIBC Asset Management Inc raised its position in Agnico Eagle Mines by 5.5% during the fourth quarter. CIBC Asset Management Inc now owns 6,383,024 shares of the mining company’s stock valued at $499,956,000 after acquiring an additional 332,576 shares in the last quarter. Finally, Allworth Financial LP raised its position in Agnico Eagle Mines by 10.8% during the fourth quarter. Allworth Financial LP now owns 3,376 shares of the mining company’s stock valued at $264,000 after acquiring an additional 330 shares in the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Trading Up 4.0 %

Shares of Agnico Eagle Mines stock traded up $3.68 on Monday, reaching $96.62. 321,913 shares of the company were exchanged, compared to its average volume of 1,623,001. The stock has a fifty day moving average price of $83.69 and a 200-day moving average price of $81.61. The firm has a market capitalization of $48.53 billion, a price-to-earnings ratio of 48.16, a price-to-earnings-growth ratio of 0.62 and a beta of 1.10. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines has a fifty-two week low of $44.37 and a fifty-two week high of $95.79.

Wall Street Analyst Weigh In

AEM has been the topic of several recent research reports. Scotiabank raised their price target on Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 21st. Jefferies Financial Group raised their price target on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Tuesday, January 7th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.50.

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.