Tradition Wealth Management LLC Lowers Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Tradition Wealth Management LLC cut its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 9.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,286 shares of the mining company’s stock after selling 352 shares during the period. Tradition Wealth Management LLC’s holdings in Agnico Eagle Mines were worth $265,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AEM. Continuum Advisory LLC grew its position in shares of 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 in the last quarter. Abich Financial Wealth Management LLC acquired a new stake in Agnico Eagle Mines in the second quarter valued at approximately $32,000. FSC Wealth Advisors LLC purchased a new position in Agnico Eagle Mines in the third quarter worth approximately $32,000. McClarren Financial Advisors Inc. grew its holdings in Agnico Eagle Mines by 684.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock worth $41,000 after acquiring an additional 445 shares in the last quarter. Finally, WASHINGTON TRUST Co increased its position in shares of Agnico Eagle Mines by 92.1% in the 2nd quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock valued at $48,000 after purchasing an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AEM. Scotiabank lifted their price objective on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Royal Bank of Canada lifted 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. Jefferies Financial Group increased their price objective on Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a report on Friday, October 4th. Finally, 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 target price for the company. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $86.78.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $82.87 on Tuesday. 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 cap of $41.61 billion, a P/E ratio of 41.44, a P/E/G ratio of 0.66 and a beta of 1.09. The stock has a 50 day moving average of $82.80 and a two-hundred day moving average of $76.63. Agnico Eagle Mines Limited has a twelve month low of $44.37 and a twelve month high of $89.00.

Agnico Eagle Mines Company 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.