General American Investors Co. Inc. Lowers Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

General American Investors Co. Inc. decreased its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 14.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 415,000 shares of the mining company’s stock after selling 70,000 shares during the quarter. Agnico Eagle Mines makes up 2.3% of General American Investors Co. Inc.’s holdings, making the stock its 12th largest holding. General American Investors Co. Inc. owned 0.08% of Agnico Eagle Mines worth $33,432,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Continuum Advisory LLC boosted its position in shares of Agnico Eagle Mines by 1,134.4% during the second 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 last quarter. Abich Financial Wealth Management LLC purchased a new position in shares of Agnico Eagle Mines during the second quarter valued at about $32,000. FSC Wealth Advisors LLC bought a new stake in shares of Agnico Eagle Mines in the third quarter worth about $32,000. McClarren Financial Advisors Inc. lifted its position in shares of Agnico Eagle Mines by 684.6% in the third quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock worth $41,000 after buying an additional 445 shares in the last quarter. Finally, WASHINGTON TRUST Co boosted its stake in Agnico Eagle Mines by 92.1% during the second 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 last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Scotiabank raised their target price on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Royal Bank of Canada lifted their price objective on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Jefferies Financial Group increased their price target 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. UBS Group started coverage on Agnico Eagle Mines in a research note on Tuesday, September 17th. They set a “buy” rating and a $95.00 price objective on the stock. Finally, TD Securities lifted their target price on Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $86.78.

Agnico Eagle Mines Trading Up 0.9 %

AEM traded up $0.76 during trading on Thursday, hitting $83.93. 247,411 shares of the stock were exchanged, compared to its average volume of 2,650,011. The firm has a market cap of $42.11 billion, a price-to-earnings ratio of 41.60, a P/E/G ratio of 0.74 and a beta of 1.09. 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 firm has a 50 day simple moving average of $82.49 and a 200 day simple moving average of $74.67.

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.