Erste Asset Management GmbH Buys Shares of 123,400 Agnico Eagle Mines Limited (NYSE:AEM)

Erste Asset Management GmbH acquired a new position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 123,400 shares of the mining company's stock, valued at approximately $10,102,000.

A number of other institutional investors have also recently bought and sold shares of AEM. 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. Abich Financial Wealth Management LLC bought a new stake in Agnico Eagle Mines in the 2nd quarter valued at $32,000. FSC Wealth Advisors LLC bought a new stake in Agnico Eagle Mines in the 3rd quarter valued at $32,000. McClarren Financial Advisors Inc. increased 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 buying an additional 445 shares during the period. Finally, WASHINGTON TRUST Co grew 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 worth $48,000 after purchasing an additional 350 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company's stock.

Analyst Ratings Changes

AEM has been the subject of a number of analyst reports. Royal Bank of Canada raised their price objective on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 10th. Jefferies Financial Group raised their price target on Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a "hold" rating in a research report on Friday, October 4th. UBS Group began coverage on 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, Scotiabank lifted their price objective on Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a "sector outperform" rating in a report on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $86.78.

Agnico Eagle Mines Trading Down 1.9 %

Shares of AEM traded down $1.60 on Monday, hitting $82.82. 550,465 shares of the stock traded hands, compared to its average volume of 2,630,293. 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 capitalization of $41.58 billion, a P/E ratio of 41.90, a P/E/G ratio of 0.66 and a beta of 1.09. Agnico Eagle Mines Limited has a 1 year low of $44.37 and a 1 year high of $89.00. The stock's 50 day moving average is $82.80 and its two-hundred day moving average is $76.63.

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.