Nwam LLC Makes New $283,000 Investment in Agnico Eagle Mines Limited (NYSE:AEM)

Nwam LLC bought a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,508 shares of the mining company’s stock, valued at approximately $283,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Telemark Asset Management LLC purchased a new stake in Agnico Eagle Mines in the 3rd quarter valued at approximately $8,056,000. Citigroup Inc. lifted its holdings in shares of Agnico Eagle Mines by 84.4% in the 3rd quarter. Citigroup Inc. now owns 182,142 shares of the mining company’s stock valued at $14,689,000 after buying an additional 83,387 shares during the period. Raymond James Trust N.A. boosted its stake in shares of Agnico Eagle Mines by 3.8% in the third quarter. Raymond James Trust N.A. now owns 5,579 shares of the mining company’s stock valued at $449,000 after buying an additional 203 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Agnico Eagle Mines by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,136,854 shares of the mining company’s stock worth $91,681,000 after acquiring an additional 32,991 shares during the period. Finally, Navellier & Associates Inc. purchased a new position in Agnico Eagle Mines in the third quarter worth $4,646,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Down 3.1 %

Shares of NYSE:AEM opened at $81.72 on Tuesday. The company’s fifty day moving average is $82.66 and its two-hundred day moving average is $76.19. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75. Agnico Eagle Mines Limited has a 1-year low of $44.37 and a 1-year high of $89.00. The stock has a market capitalization of $41.03 billion, a price-to-earnings ratio of 40.86, a price-to-earnings-growth ratio of 0.73 and a beta of 1.09.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AEM shares. Scotiabank upped their price target 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. Royal Bank of Canada increased their target price on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the company 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 research note on Friday, October 4th. TD Securities upped their price objective on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, UBS Group began coverage on shares of Agnico Eagle Mines in a research report on Tuesday, September 17th. They set a “buy” rating and a $95.00 price target for the company. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and an average price target of $86.78.

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.