Agnico Eagle Mines Limited $AEM Stock Position Raised by Candriam S.C.A.

Candriam S.C.A. grew its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 26.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 218,303 shares of the mining company’s stock after buying an additional 45,585 shares during the quarter. Candriam S.C.A.’s holdings in Agnico Eagle Mines were worth $36,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC acquired a new stake in Agnico Eagle Mines in the second quarter valued at approximately $25,000. True Wealth Design LLC raised its holdings in shares of Agnico Eagle Mines by 381.3% during the 3rd quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock valued at $26,000 after purchasing an additional 122 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Agnico Eagle Mines in the 2nd quarter valued at $29,000. City State Bank boosted its holdings in Agnico Eagle Mines by 69.2% in the second quarter. City State Bank now owns 269 shares of the mining company’s stock worth $32,000 after purchasing an additional 110 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC increased its position in Agnico Eagle Mines by 59.7% during the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock worth $33,000 after buying an additional 74 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Up 6.6%

Shares of Agnico Eagle Mines stock opened at $209.64 on Tuesday. Agnico Eagle Mines Limited has a 1 year low of $92.11 and a 1 year high of $225.00. The company’s fifty day simple moving average is $186.09 and its 200-day simple moving average is $165.68. The company has a market cap of $104.96 billion, a price-to-earnings ratio of 30.60, a PEG ratio of 0.48 and a beta of 0.63. The company has a current ratio of 2.12, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01.

Analysts Set New Price Targets

A number of brokerages have weighed in on AEM. Citigroup boosted their price target on Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Canadian Imperial Bank of Commerce set a $296.00 target price on Agnico Eagle Mines and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Bank of America upped their target price on Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. JPMorgan Chase & Co. began coverage on shares of Agnico Eagle Mines in a research report on Thursday, January 29th. They issued a “neutral” rating and a $248.00 price target on the stock. Finally, Raymond James Financial restated an “outperform” rating and issued a $225.00 price objective on shares of Agnico Eagle Mines in a research note on Wednesday, January 14th. Four research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Buy” and a consensus price target of $230.64.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.