Triasima Portfolio Management inc. Increases Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Triasima Portfolio Management inc. raised its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 12.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,100 shares of the mining company’s stock after purchasing an additional 6,250 shares during the period. Triasima Portfolio Management inc.’s holdings in Agnico Eagle Mines were worth $4,309,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AEM. AQR Capital Management LLC increased its stake in Agnico Eagle Mines by 23.3% in the second quarter. AQR Capital Management LLC now owns 13,017 shares of the mining company’s stock valued at $851,000 after purchasing an additional 2,464 shares during the last quarter. Truist Financial Corp increased its stake in Agnico Eagle Mines by 10.4% in the second quarter. Truist Financial Corp now owns 45,315 shares of the mining company’s stock valued at $2,964,000 after purchasing an additional 4,276 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in Agnico Eagle Mines in the second quarter valued at approximately $678,000. Diversified Trust Co purchased a new position in Agnico Eagle Mines in the third quarter valued at approximately $235,000. Finally, Miracle Mile Advisors LLC purchased a new position in Agnico Eagle Mines in the third quarter valued at approximately $236,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $98.97 on Friday. The firm’s fifty day moving average price is $84.79 and its 200 day moving average price is $82.14. Agnico Eagle Mines Limited has a 1-year low of $44.37 and a 1-year high of $99.70. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 0.83. The firm has a market cap of $49.71 billion, a price-to-earnings ratio of 49.48, a price-to-earnings-growth ratio of 0.62 and a beta of 1.10.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AEM shares. Scotiabank lifted their target price on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 21st. Jefferies Financial Group lifted their target price on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a report on Tuesday, January 7th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $90.50.

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.