Metis Global Partners LLC Purchases 7,209 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Metis Global Partners LLC increased its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 16.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,899 shares of the mining company’s stock after purchasing an additional 7,209 shares during the quarter. Metis Global Partners LLC’s holdings in Agnico Eagle Mines were worth $4,181,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Huntington National Bank boosted its stake in Agnico Eagle Mines by 261.4% in the third quarter. Huntington National Bank now owns 1,424 shares of the mining company’s stock valued at $115,000 after acquiring an additional 1,030 shares during the last quarter. Regal Partners Ltd lifted its stake in shares of Agnico Eagle Mines by 36.4% in the 3rd quarter. Regal Partners Ltd now owns 169,448 shares of the mining company’s stock valued at $13,651,000 after purchasing an additional 45,262 shares during the period. Plato Investment Management Ltd bought a new position in shares of Agnico Eagle Mines in the 3rd quarter worth $2,330,000. Kovack Advisors Inc. acquired a new stake in shares of Agnico Eagle Mines during the third quarter worth $224,000. Finally, Saturna Capital Corp increased its holdings in Agnico Eagle Mines by 6.0% in the third quarter. Saturna Capital Corp now owns 24,689 shares of the mining company’s stock valued at $1,989,000 after purchasing an additional 1,393 shares during the last quarter. 68.34% of the stock is owned by institutional investors.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $77.64 on Friday. The company’s fifty day simple moving average is $82.43 and its 200-day simple moving average is $75.26. Agnico Eagle Mines Limited has a 12 month low of $44.37 and a 12 month 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 market cap of $38.96 billion, a PE ratio of 38.82, a P/E/G ratio of 0.67 and a beta of 1.09.

Analyst Ratings Changes

AEM has been the topic of several recent analyst reports. Royal Bank of Canada lifted their price objective on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Scotiabank boosted their price target on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. UBS Group began coverage on Agnico Eagle Mines in a research note on Tuesday, September 17th. They set a “buy” rating and a $95.00 price objective on the stock. Jefferies Financial Group boosted their target price 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. Finally, TD Securities raised their price target 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 equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $86.78.

About Agnico Eagle Mines

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.