Ninety One SA PTY Ltd Sells 10,509 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Ninety One SA PTY Ltd reduced its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 17.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,498 shares of the mining company’s stock after selling 10,509 shares during the quarter. Ninety One SA PTY Ltd’s holdings in Agnico Eagle Mines were worth $3,871,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Versant Capital Management Inc acquired a new position in shares of Agnico Eagle Mines in the fourth quarter valued at approximately $26,000. Decker Retirement Planning Inc. bought a new stake in Agnico Eagle Mines in the 4th quarter valued at $29,000. FSC Wealth Advisors LLC acquired a new position in Agnico Eagle Mines in the 3rd quarter valued at $32,000. Fifth Third Bancorp increased its position in Agnico Eagle Mines by 176.9% during the 4th quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock worth $32,000 after buying an additional 260 shares during the period. Finally, McClarren Financial Advisors Inc. lifted its holdings in shares of Agnico Eagle Mines by 684.6% during the third quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock worth $41,000 after buying an additional 445 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM opened at $95.62 on Wednesday. The firm has a 50 day moving average of $84.18 and a 200-day moving average of $81.91. Agnico Eagle Mines Limited has a 12 month low of $44.37 and a 12 month high of $97.01. 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 market capitalization of $48.03 billion, a PE ratio of 47.81, a PEG ratio of 0.62 and a beta of 1.10.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AEM shares. Scotiabank raised their price target on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 21st. Jefferies Financial Group lifted their price target on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Tuesday, January 7th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.50.

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.