Hara Capital LLC Reduces Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Hara Capital LLC lowered its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 19.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,181 shares of the mining company’s stock after selling 1,719 shares during the quarter. Hara Capital LLC’s holdings in Agnico Eagle Mines were worth $579,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of AEM. Manning & Napier Advisors LLC purchased a new position in shares of Agnico Eagle Mines during the second quarter worth about $2,595,000. Capital Wealth Planning LLC raised its position in shares of Agnico Eagle Mines by 62.3% during the 1st quarter. Capital Wealth Planning LLC now owns 2,620,345 shares of the mining company’s stock worth $156,304,000 after purchasing an additional 1,006,001 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Agnico Eagle Mines in the 1st quarter valued at approximately $878,000. Tidal Investments LLC grew its holdings in Agnico Eagle Mines by 87.8% during the 1st quarter. Tidal Investments LLC now owns 20,598 shares of the mining company’s stock valued at $1,195,000 after buying an additional 9,628 shares during the last quarter. Finally, M&G Plc purchased a new position in Agnico Eagle Mines during the second quarter worth $1,802,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Trading Up 1.0 %

AEM traded up $0.87 on Thursday, reaching $84.04. 557,521 shares of the company’s stock were exchanged, compared to its average volume of 2,651,721. The company has a market cap of $42.17 billion, a price-to-earnings ratio of 41.60, a PEG 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 twelve month low of $44.37 and a twelve month high of $89.00. The company’s 50 day moving average is $82.49 and its 200-day moving average is $74.67.

Analyst Upgrades and Downgrades

AEM has been the topic of several recent research reports. CIBC upped their price objective on Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Royal Bank of Canada lifted their price target on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Scotiabank upped their price objective on shares of 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. Jefferies Financial Group raised their target price on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Finally, UBS Group started coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price target for the company. One 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $86.78.

Agnico Eagle Mines 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.