Pekin Hardy Strauss Inc. Grows Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Pekin Hardy Strauss Inc. lifted its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,410 shares of the mining company’s stock after purchasing an additional 527 shares during the quarter. Agnico Eagle Mines accounts for approximately 0.9% of Pekin Hardy Strauss Inc.’s holdings, making the stock its 27th biggest position. Pekin Hardy Strauss Inc.’s holdings in Agnico Eagle Mines were worth $6,719,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of AEM. Continuum Advisory LLC raised its stake in shares of Agnico Eagle Mines by 1,134.4% in the second quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock worth $26,000 after purchasing an additional 363 shares during the last quarter. Abich Financial Wealth Management LLC bought a new stake in shares of Agnico Eagle Mines in the second quarter worth approximately $32,000. FSC Wealth Advisors LLC purchased a new position in shares of Agnico Eagle Mines during the third quarter valued at approximately $32,000. McClarren Financial Advisors Inc. raised its holdings in shares of Agnico Eagle Mines by 684.6% during the third quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock valued at $41,000 after purchasing an additional 445 shares during the last quarter. Finally, WASHINGTON TRUST Co lifted its holdings in shares of Agnico Eagle Mines by 92.1% during the 2nd quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock valued at $48,000 after buying an additional 350 shares during the period. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at $84.30 on Friday. 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 Limited has a twelve month low of $44.37 and a twelve month high of $89.00. The company’s 50-day moving average price is $82.68 and its 200-day moving average price is $76.03. The company has a market cap of $42.32 billion, a PE ratio of 42.15, a price-to-earnings-growth ratio of 0.73 and a beta of 1.09.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AEM. Royal Bank of Canada lifted their price objective on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. TD Securities lifted their price objective on Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group lifted their target price on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Scotiabank upped their price target on 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. Finally, UBS Group assumed coverage on shares of Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price target on the stock. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.