Agnico Eagle Mines Limited (NYSE:AEM) Shares Sold by M&G Plc

M&G Plc lessened its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 21.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,622 shares of the mining company’s stock after selling 6,080 shares during the quarter. M&G Plc’s holdings in Agnico Eagle Mines were worth $1,742,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of AEM. Continuum Advisory LLC raised 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 acquiring an additional 363 shares during the period. Abich Financial Wealth Management LLC purchased a new position in Agnico Eagle Mines in the second quarter valued at about $32,000. FSC Wealth Advisors LLC acquired a new position in shares of Agnico Eagle Mines during the third quarter worth about $32,000. McClarren Financial Advisors Inc. lifted its stake in shares of 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 purchasing an additional 445 shares in the last quarter. Finally, WASHINGTON TRUST Co boosted its position in shares of Agnico Eagle Mines by 92.1% in the second quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock worth $48,000 after buying an additional 350 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

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

Agnico Eagle Mines Stock Performance

AEM stock opened at $83.84 on Friday. The stock’s 50 day simple moving average is $82.60 and its 200 day simple moving average is $74.90. Agnico Eagle Mines Limited has a 12-month low of $44.37 and a 12-month high of $89.00. The firm has a market cap of $42.07 billion, a P/E ratio of 41.92, a P/E/G ratio of 0.74 and a beta of 1.09. 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 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.