Avanza Fonder AB Buys Shares of 43,123 Agnico Eagle Mines Limited (NYSE:AEM)

Avanza Fonder AB bought a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the fourth quarter, Holdings Channel.com reports. The firm bought 43,123 shares of the mining company’s stock, valued at approximately $3,373,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc purchased a new stake in Agnico Eagle Mines in the fourth quarter valued at $26,000. Decker Retirement Planning Inc. purchased a new stake in Agnico Eagle Mines in the fourth quarter valued at $29,000. FSC Wealth Advisors LLC purchased a new stake in Agnico Eagle Mines in the third quarter valued at $32,000. Abich Financial Wealth Management LLC purchased a new stake in Agnico Eagle Mines in the second quarter valued at $32,000. Finally, McClarren Financial Advisors Inc. raised its position in Agnico Eagle Mines by 684.6% in the third quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock valued at $41,000 after purchasing an additional 445 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Up 1.1 %

NYSE:AEM opened at $85.12 on Friday. Agnico Eagle Mines Limited has a 12-month low of $44.37 and a 12-month high of $89.00. The firm has a market cap of $42.72 billion, a PE ratio of 42.56, a price-to-earnings-growth ratio of 0.56 and a beta of 1.08. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06. The stock has a fifty day moving average price of $81.70 and a 200 day moving average price of $80.22.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group increased their target price on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.13.

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.