Access Investment Management LLC Reduces Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Access Investment Management LLC decreased its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 15.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,467 shares of the mining company's stock after selling 15,220 shares during the period. Agnico Eagle Mines accounts for about 2.0% of Access Investment Management LLC's holdings, making the stock its 15th largest holding. Access Investment Management LLC's holdings in Agnico Eagle Mines were worth $6,563,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Continuum Advisory LLC increased its position in shares of Agnico Eagle Mines by 1,134.4% during the second quarter. Continuum Advisory LLC now owns 395 shares of the mining company's stock valued at $26,000 after buying an additional 363 shares during the period. Abich Financial Wealth Management LLC bought a new position in shares of Agnico Eagle Mines in the 2nd quarter worth approximately $32,000. FSC Wealth Advisors LLC purchased a new position in shares of Agnico Eagle Mines in the 3rd quarter valued at approximately $32,000. McClarren Financial Advisors Inc. boosted its position 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 in the last quarter. Finally, WASHINGTON TRUST Co grew its stake in Agnico Eagle Mines by 92.1% in the second quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company's stock worth $48,000 after purchasing an additional 350 shares during the period. Hedge funds and other institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock traded down $5.72 during trading on Monday, hitting $78.12. 4,494,411 shares of the company's stock traded hands, compared to its average volume of 2,669,675. Agnico Eagle Mines Limited has a 1 year low of $44.37 and a 1 year high of $89.00. The business has a 50-day simple moving average of $82.60 and a 200-day simple moving average of $75.06. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 0.83. The stock has a market capitalization of $39.20 billion, a P/E ratio of 41.92, a PEG ratio of 0.72 and a beta of 1.09.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Jefferies Financial Group raised their price objective on Agnico Eagle Mines from $68.00 to $85.00 and gave the company a "hold" rating in a research report on Friday, October 4th. Royal Bank of Canada boosted their price target 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. TD Securities raised 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. UBS Group started coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a "buy" rating and a $95.00 target price on the stock. Finally, Scotiabank increased their target price 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. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently 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.