Harbor Advisors LLC Takes Position in Agnico Eagle Mines Limited (NYSE:AEM)

Harbor Advisors LLC purchased a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 2,800 shares of the mining company’s stock, valued at approximately $226,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AEM. Manning & Napier Advisors LLC acquired a new position in Agnico Eagle Mines during the second quarter valued at approximately $2,595,000. Bridgewater Associates LP grew its stake in Agnico Eagle Mines by 123.2% during the third quarter. Bridgewater Associates LP now owns 204,168 shares of the mining company’s stock valued at $16,448,000 after acquiring an additional 112,712 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Agnico Eagle Mines by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,136,854 shares of the mining company’s stock worth $91,681,000 after purchasing an additional 32,991 shares during the period. Mirabella Financial Services LLP bought a new stake in shares of Agnico Eagle Mines during the 3rd quarter valued at about $655,000. Finally, Swiss National Bank raised its holdings in Agnico Eagle Mines by 0.6% in the third quarter. Swiss National Bank now owns 1,506,558 shares of the mining company’s stock worth $121,558,000 after buying an additional 9,400 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

NYSE AEM opened at $82.87 on Tuesday. Agnico Eagle Mines Limited has a twelve month low of $44.37 and a twelve month high of $89.00. The stock has a market capitalization of $41.61 billion, a PE ratio of 41.44, a P/E/G ratio of 0.66 and a beta of 1.09. The stock has a 50-day simple moving average of $82.80 and a 200 day simple moving average of $76.63. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Royal Bank of Canada boosted their price objective on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Jefferies Financial Group upped their price target on Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. UBS Group started coverage on shares of Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 target price for the company. Finally, Scotiabank lifted their target price on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.