Saturna Capital Corp Grows Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

Saturna Capital Corp lifted its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 6.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,689 shares of the mining company’s stock after purchasing an additional 1,393 shares during the period. Saturna Capital Corp’s holdings in Agnico Eagle Mines were worth $1,989,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AEM. MQS Management LLC purchased a new stake in Agnico Eagle Mines during the 3rd quarter worth about $1,336,000. Aigen Investment Management LP purchased a new stake in Agnico Eagle Mines during the 3rd quarter worth about $607,000. GSA Capital Partners LLP lifted its holdings in Agnico Eagle Mines by 132.2% during the 3rd quarter. GSA Capital Partners LLP now owns 18,472 shares of the mining company’s stock worth $1,488,000 after buying an additional 10,516 shares during the last quarter. Tacita Capital Inc lifted its holdings in Agnico Eagle Mines by 13.1% during the 3rd quarter. Tacita Capital Inc now owns 4,570 shares of the mining company’s stock worth $369,000 after buying an additional 530 shares during the last quarter. Finally, Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management purchased a new stake in Agnico Eagle Mines during the 3rd quarter worth about $6,847,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AEM has been the subject of a number of recent analyst reports. Jefferies Financial Group lifted their price target on Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, October 4th. 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. UBS Group initiated coverage on Agnico Eagle Mines in a research report on Tuesday, September 17th. They set a “buy” rating and a $95.00 target price on the stock. Scotiabank lifted their target price 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. Finally, TD Securities lifted their target price on Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $86.78.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $77.86 on Wednesday. The stock has a market capitalization of $39.07 billion, a PE ratio of 38.99, a price-to-earnings-growth ratio of 0.68 and a beta of 1.09. Agnico Eagle Mines Limited has a 52-week low of $44.37 and a 52-week high of $89.00. The stock’s 50-day moving average price is $82.50 and its 200 day moving average price is $75.24. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06.

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.