Penn Mutual Asset Management Decreases Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Penn Mutual Asset Management lessened its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 7.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,500 shares of the mining company’s stock after selling 350 shares during the period. Penn Mutual Asset Management’s holdings in Agnico Eagle Mines were worth $363,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Continuum Advisory LLC grew its position in shares of Agnico Eagle Mines by 1,134.4% during the 2nd quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock valued at $26,000 after purchasing an additional 363 shares in the last quarter. Abich Financial Wealth Management LLC bought a new position in shares of Agnico Eagle Mines during the 2nd quarter valued at $32,000. FSC Wealth Advisors LLC bought a new position in Agnico Eagle Mines during the 3rd quarter worth approximately $32,000. McClarren Financial Advisors Inc. grew its holdings in Agnico Eagle Mines by 684.6% in 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 during the last quarter. Finally, WASHINGTON TRUST Co raised its position in 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 purchasing an additional 350 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Up 3.8 %

Shares of NYSE AEM opened at $85.99 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 0.83. The business’s 50 day moving average is $82.81 and its two-hundred day moving average is $76.72. The stock has a market capitalization of $43.17 billion, a P/E ratio of 43.00, a PEG ratio of 0.65 and a beta of 1.07. Agnico Eagle Mines Limited has a 1-year low of $44.37 and a 1-year high of $89.00.

Wall Street Analysts Forecast Growth

AEM has been the topic of a number of research reports. Jefferies Financial Group lifted their target price on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, October 4th. UBS Group started coverage on shares of Agnico Eagle Mines in a report on Tuesday, September 17th. They set a “buy” rating and a $95.00 price objective for the company. Royal Bank of Canada upped their price target on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Finally, Scotiabank upped their price target on 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. One 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 an average rating of “Moderate Buy” and a consensus price target 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.