Bamco Inc. NY Reduces Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

Bamco Inc. NY decreased its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 9.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,746 shares of the mining company’s stock after selling 5,424 shares during the quarter. Bamco Inc. NY’s holdings in Agnico Eagle Mines were worth $4,249,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Continuum Advisory LLC lifted its stake in 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 acquiring an additional 363 shares during the period. FSC Wealth Advisors LLC acquired a new position in Agnico Eagle Mines during the third quarter valued at $32,000. Abich Financial Wealth Management LLC purchased a new stake in Agnico Eagle Mines in the second quarter valued at $32,000. McClarren Financial Advisors Inc. grew its position 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 purchasing an additional 445 shares during the period. Finally, FSA Wealth Management LLC purchased a new position in shares of Agnico Eagle Mines during the 3rd quarter valued at about $58,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Jefferies Financial Group upped their target price on Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Scotiabank raised 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 note on Monday, August 19th. UBS Group initiated coverage on shares of Agnico Eagle Mines in a research note on Tuesday, September 17th. They issued a “buy” rating and a $95.00 target price for the company. Finally, Royal Bank of Canada raised 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. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. 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 Up 3.8 %

AEM stock opened at $85.99 on Wednesday. Agnico Eagle Mines Limited has a 52 week low of $44.37 and a 52 week high of $89.00. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The firm has a 50-day simple moving average of $82.81 and a 200-day simple moving average of $76.72. The stock has a market capitalization of $43.17 billion, a P/E ratio of 43.00, a P/E/G ratio of 0.65 and a beta of 1.07.

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.