Citigroup Inc. Buys 83,387 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Citigroup Inc. lifted its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 84.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 182,142 shares of the mining company’s stock after acquiring an additional 83,387 shares during the quarter. Citigroup Inc.’s holdings in Agnico Eagle Mines were worth $14,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Sapient Capital LLC grew its stake in Agnico Eagle Mines by 1.3% during the third quarter. Sapient Capital LLC now owns 11,001 shares of the mining company’s stock worth $886,000 after purchasing an additional 145 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in Agnico Eagle Mines by 2.2% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 7,217 shares of the mining company’s stock worth $472,000 after purchasing an additional 158 shares during the period. Azzad Asset Management Inc. ADV grew its stake in Agnico Eagle Mines by 0.3% during the second quarter. Azzad Asset Management Inc. ADV now owns 61,820 shares of the mining company’s stock worth $4,043,000 after purchasing an additional 189 shares during the period. Lombard Odier Asset Management Europe Ltd grew its stake in Agnico Eagle Mines by 0.4% during the second quarter. Lombard Odier Asset Management Europe Ltd now owns 49,651 shares of the mining company’s stock worth $3,248,000 after purchasing an additional 190 shares during the period. Finally, Baader Bank Aktiengesellschaft grew its stake in Agnico Eagle Mines by 4.8% during the second quarter. Baader Bank Aktiengesellschaft now owns 4,192 shares of the mining company’s stock worth $269,000 after purchasing an additional 192 shares during the period. 68.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Jefferies Financial Group raised their target price 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. Scotiabank raised their price objective on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. TD Securities raised their price objective 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. Royal Bank of Canada raised their price objective on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Finally, UBS Group initiated coverage on Agnico Eagle Mines in a research report on Tuesday, September 17th. They set a “buy” rating and a $95.00 target price on the stock. One equities research 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, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and an average price target of $86.78.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $83.54 on Thursday. The business’s fifty day simple moving average is $82.70 and its 200 day simple moving average is $76.30. The firm has a market capitalization of $41.94 billion, a P/E ratio of 42.17, a price-to-earnings-growth ratio of 0.70 and a beta of 1.09. Agnico Eagle Mines Limited has a 12 month low of $44.37 and a 12 month high of $89.00. 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 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.