Portside Wealth Group LLC Cuts Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Portside Wealth Group LLC lowered its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 0.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 15,714 shares of the mining company’s stock after selling 134 shares during the period. Portside Wealth Group LLC’s holdings in Agnico Eagle Mines were worth $1,266,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in Agnico Eagle Mines by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,136,854 shares of the mining company’s stock valued at $91,681,000 after purchasing an additional 32,991 shares in the last quarter. Bridgewater Associates LP boosted its holdings in Agnico Eagle Mines by 123.2% in the 3rd quarter. Bridgewater Associates LP now owns 204,168 shares of the mining company’s stock valued at $16,448,000 after purchasing an additional 112,712 shares in the last quarter. Caldwell Investment Management Ltd. raised its position in Agnico Eagle Mines by 12.0% in the fourth quarter. Caldwell Investment Management Ltd. now owns 87,700 shares of the mining company’s stock worth $6,812,000 after acquiring an additional 9,400 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in Agnico Eagle Mines by 14.8% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 225,965 shares of the mining company’s stock worth $18,223,000 after acquiring an additional 29,106 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Agnico Eagle Mines by 8.6% in the third quarter. Geode Capital Management LLC now owns 2,256,714 shares of the mining company’s stock worth $183,491,000 after acquiring an additional 178,999 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analysts Set New Price Targets

Separately, Jefferies Financial Group boosted their price objective on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.13.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $85.12 on Friday. Agnico Eagle Mines Limited has a fifty-two week low of $44.37 and a fifty-two week high of $89.00. The stock has a market cap of $42.72 billion, a price-to-earnings ratio of 42.56, a price-to-earnings-growth ratio of 0.56 and a beta of 1.08. The business has a fifty day moving average of $81.70 and a 200-day moving average of $80.33. The company has a quick ratio of 0.83, a current ratio of 1.75 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.