NFJ Investment Group LLC Sells 3,613 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

NFJ Investment Group LLC reduced its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 25.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 10,355 shares of the mining company’s stock after selling 3,613 shares during the quarter. NFJ Investment Group LLC’s holdings in Agnico Eagle Mines were worth $834,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Continuum Advisory LLC raised its holdings 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 worth $26,000 after purchasing an additional 363 shares during the last quarter. FSC Wealth Advisors LLC bought a new stake in shares of Agnico Eagle Mines in the 3rd quarter valued at about $32,000. Abich Financial Wealth Management LLC bought a new stake in shares of Agnico Eagle Mines in the 2nd quarter valued at about $32,000. McClarren Financial Advisors Inc. increased its stake in shares of Agnico Eagle Mines by 684.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock valued at $41,000 after acquiring an additional 445 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new stake in shares of Agnico Eagle Mines in the 3rd quarter valued at about $58,000. 68.34% of the stock is owned by institutional investors.

Agnico Eagle Mines Price Performance

Shares of AEM opened at $85.51 on Thursday. Agnico Eagle Mines Limited has a 52-week low of $44.37 and a 52-week high of $89.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75. The stock has a 50 day simple moving average of $82.85 and a 200 day simple moving average of $76.84. The firm has a market capitalization of $42.93 billion, a PE ratio of 42.76, a P/E/G ratio of 0.65 and a beta of 1.07.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Scotiabank upped their price target on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. UBS Group assumed coverage on Agnico Eagle Mines in a research note on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price target for the company. Jefferies Financial Group upped their price target 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, Royal Bank of Canada boosted their price objective on 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 investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently 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.