123,400 Shares in Agnico Eagle Mines Limited (NYSE:AEM) Acquired by Erste Asset Management GmbH

Erste Asset Management GmbH purchased a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 123,400 shares of the mining company’s stock, valued at approximately $10,102,000.

Several other large investors have also recently modified their holdings of AEM. Continuum Advisory LLC increased its holdings in Agnico Eagle Mines by 1,134.4% in the second quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock valued at $26,000 after purchasing an additional 363 shares during the period. Abich Financial Wealth Management LLC acquired a new stake in shares of Agnico Eagle Mines in the second quarter valued at about $32,000. FSC Wealth Advisors LLC acquired a new stake in shares of Agnico Eagle Mines in the third quarter valued at about $32,000. McClarren Financial Advisors Inc. raised its position 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 acquiring an additional 445 shares during the last quarter. Finally, WASHINGTON TRUST Co lifted its stake 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 acquiring an additional 350 shares during the period. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $84.42 on Monday. Agnico Eagle Mines Limited has a one year low of $44.37 and a one year high of $89.00. The company has a market cap of $42.38 billion, a PE ratio of 42.21, a P/E/G ratio of 0.66 and a beta of 1.09. The stock has a 50-day moving average of $82.80 and a 200-day moving average of $76.57. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 0.83.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AEM. Royal Bank of Canada increased their target price on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Scotiabank lifted their target price on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. 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. Finally, 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 price objective for the company. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $86.78.

About Agnico Eagle Mines

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.