Plato Investment Management Ltd Takes Position in Agnico Eagle Mines Limited (NYSE:AEM)

Plato Investment Management Ltd acquired a new position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 28,925 shares of the mining company’s stock, valued at approximately $2,330,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Continuum Advisory LLC lifted its stake in 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 purchasing an additional 363 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new position in Agnico Eagle Mines during the 2nd quarter worth about $32,000. FSC Wealth Advisors LLC purchased a new position in Agnico Eagle Mines during the 3rd quarter valued at about $32,000. McClarren Financial Advisors Inc. grew its position in 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 acquiring an additional 445 shares in the last quarter. Finally, WASHINGTON TRUST Co increased 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 worth $48,000 after purchasing an additional 350 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Down 1.5 %

Shares of NYSE AEM opened at $75.99 on Thursday. Agnico Eagle Mines Limited has a 1 year low of $44.37 and a 1 year high of $89.00. The company has a market capitalization of $38.13 billion, a price-to-earnings ratio of 38.00, a price-to-earnings-growth ratio of 0.67 and a beta of 1.09. 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 business has a 50-day moving average of $82.45 and a two-hundred day moving average of $75.24.

Analysts Set New Price Targets

Several research analysts have recently commented on AEM shares. Jefferies Financial Group raised their price objective on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, October 4th. UBS Group started coverage on shares of Agnico Eagle Mines in a report on Tuesday, September 17th. They set a “buy” rating and a $95.00 target price on the stock. Scotiabank boosted their price target 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. TD Securities lifted their target price on Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada upped their price target on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and a consensus 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.