Swiss National Bank Grows Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

Swiss National Bank increased its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 0.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,506,558 shares of the mining company’s stock after purchasing an additional 9,400 shares during the quarter. Swiss National Bank’s holdings in Agnico Eagle Mines were worth $121,558,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Continuum Advisory LLC lifted its position 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 buying an additional 363 shares during the period. FSC Wealth Advisors LLC purchased a new stake in shares of Agnico Eagle Mines during the 3rd quarter valued at about $32,000. Abich Financial Wealth Management LLC purchased a new stake in shares of Agnico Eagle Mines during the 2nd quarter valued at about $32,000. McClarren Financial Advisors Inc. raised its holdings in shares of Agnico Eagle Mines by 684.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock valued at $41,000 after buying an additional 445 shares during the period. Finally, WASHINGTON TRUST Co raised its holdings in shares of Agnico Eagle Mines by 92.1% during the 2nd 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 period. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Performance

Shares of NYSE AEM opened at $80.01 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $40.17 billion, a price-to-earnings ratio of 40.01, a PEG ratio of 0.67 and a beta of 1.09. The stock’s fifty day simple moving average is $82.47 and its 200 day simple moving average is $75.60. Agnico Eagle Mines Limited has a 52-week low of $44.37 and a 52-week high of $89.00.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AEM shares. UBS Group initiated coverage on Agnico Eagle Mines in a research note on Tuesday, September 17th. They set a “buy” rating and a $95.00 price objective for the company. TD Securities raised their price target on Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Royal Bank of Canada raised 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. Scotiabank lifted their target price on 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. Finally, Jefferies Financial Group lifted their target price on Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, October 4th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average 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.