Beacon Financial Group Cuts Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Beacon Financial Group lessened its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 6.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 21,611 shares of the mining company’s stock after selling 1,558 shares during the quarter. Beacon Financial Group’s holdings in Agnico Eagle Mines were worth $1,690,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Agnico Eagle Mines by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,136,854 shares of the mining company’s stock worth $91,681,000 after purchasing an additional 32,991 shares during the period. Bridgewater Associates LP lifted its position in Agnico Eagle Mines by 123.2% during the third quarter. Bridgewater Associates LP now owns 204,168 shares of the mining company’s stock valued at $16,448,000 after buying an additional 112,712 shares in the last quarter. Caldwell Investment Management Ltd. grew its stake in Agnico Eagle Mines by 12.0% during the fourth quarter. Caldwell Investment Management Ltd. now owns 87,700 shares of the mining company’s stock worth $6,812,000 after buying an additional 9,400 shares during the period. Forsta AP Fonden increased its position in shares of Agnico Eagle Mines by 8.9% in the fourth quarter. Forsta AP Fonden now owns 195,100 shares of the mining company’s stock worth $15,256,000 after acquiring an additional 16,000 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Agnico Eagle Mines by 14.8% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 225,965 shares of the mining company’s stock valued at $18,223,000 after acquiring an additional 29,106 shares during the period. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on AEM. Jefferies Financial Group upped their price target on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research report on Tuesday, January 7th. Scotiabank upped their target price on Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada increased their target price on Agnico Eagle Mines from $96.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $92.75.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at $98.42 on Wednesday. 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 50 day moving average of $85.67 and a 200-day moving average of $82.78. The stock has a market cap of $49.43 billion, a P/E ratio of 49.21, a price-to-earnings-growth ratio of 0.66 and a beta of 1.10. Agnico Eagle Mines Limited has a 52 week low of $44.37 and a 52 week high of $101.45.

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.