FSA Wealth Management LLC Purchases New Stake in Agnico Eagle Mines Limited (NYSE:AEM)

FSA Wealth Management LLC acquired a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 721 shares of the mining company’s stock, valued at approximately $58,000.

Several other large investors also recently added to or reduced their stakes in the stock. Continuum Advisory LLC raised its holdings in shares of Agnico Eagle Mines by 1,134.4% during the 2nd quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock worth $26,000 after acquiring an additional 363 shares during the period. Abich Financial Wealth Management LLC purchased a new position in Agnico Eagle Mines during the second quarter worth about $32,000. FSC Wealth Advisors LLC acquired a new position in Agnico Eagle Mines in the 3rd quarter valued at about $32,000. McClarren Financial Advisors Inc. grew its stake in shares of Agnico Eagle Mines by 684.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock valued at $41,000 after buying an additional 445 shares during the period. Finally, WASHINGTON TRUST Co grew 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 valued at $48,000 after buying an additional 350 shares during the period. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Up 1.0 %

Shares of AEM opened at $84.42 on Monday. The company’s 50-day simple moving average is $82.80 and its 200-day simple moving average is $76.57. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75. Agnico Eagle Mines Limited has a 1 year low of $44.37 and a 1 year high of $89.00. The stock has a market capitalization of $42.38 billion, a PE ratio of 42.21, a P/E/G ratio of 0.66 and a beta of 1.09.

Analysts Set New Price Targets

Several research firms have recently commented on AEM. UBS Group initiated coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price objective on the stock. Scotiabank upped their price target 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. Royal Bank of Canada raised their price objective on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Finally, Jefferies Financial Group upped their target price on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, October 4th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and a consensus 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.