Chiron Investment Management LLC Buys New Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Chiron Investment Management LLC bought a new stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 84,570 shares of the mining company's stock, valued at approximately $6,813,000. Agnico Eagle Mines accounts for 2.4% of Chiron Investment Management LLC's portfolio, making the stock its 16th biggest position.

A number of other institutional investors also recently modified their holdings of the business. Bridgewater Associates LP increased its stake in shares of Agnico Eagle Mines by 123.2% in 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 during the period. Charles Schwab Investment Management Inc. increased its position 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 valued at $91,681,000 after purchasing an additional 32,991 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Agnico Eagle Mines by 14.8% during the third 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 purchasing an additional 29,106 shares during the last quarter. Mirabella Financial Services LLP bought a new position in Agnico Eagle Mines during the third quarter worth about $655,000. Finally, Citigroup Inc. boosted its position in Agnico Eagle Mines by 84.4% during the third quarter. Citigroup Inc. now owns 182,142 shares of the mining company's stock worth $14,689,000 after purchasing an additional 83,387 shares during the period. Institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Trading Up 2.3 %

AEM stock traded up $1.95 during mid-day trading on Wednesday, reaching $86.26. 870,986 shares of the stock traded hands, compared to its average volume of 2,596,892. The business has a 50-day moving average price of $83.06 and a two-hundred day moving average price of $77.39. 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 market capitalization of $43.31 billion, a PE ratio of 42.16, a PEG ratio of 0.65 and a beta of 1.07. Agnico Eagle Mines Limited has a one year low of $44.37 and a one year high of $89.00.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AEM. UBS Group initiated coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a "buy" rating and a $95.00 price objective on the stock. Scotiabank raised their target price 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. Royal Bank of Canada boosted their target price on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the company an "outperform" rating in a report on Tuesday, September 10th. Finally, Jefferies Financial Group upped their price objective on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a "hold" rating in a report on Friday, October 4th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average 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.