Agnico Eagle Mines Limited (NYSE:AEM) Position Reduced by Marlin Sams Capital Management LLC

Marlin Sams Capital Management LLC cut its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 13.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,000,000 shares of the mining company's stock after selling 300,000 shares during the period. Agnico Eagle Mines comprises approximately 84.2% of Marlin Sams Capital Management LLC's portfolio, making the stock its largest position. Marlin Sams Capital Management LLC owned approximately 0.40% of Agnico Eagle Mines worth $161,120,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in AEM. Assetmark Inc. increased its holdings in shares of Agnico Eagle Mines by 30.6% in the 3rd quarter. Assetmark Inc. now owns 2,363 shares of the mining company's stock valued at $190,000 after acquiring an additional 554 shares during the period. CWA Asset Management Group LLC purchased a new position in Agnico Eagle Mines during the 3rd quarter worth $4,565,000. Hollencrest Capital Management increased its stake in Agnico Eagle Mines by 1.9% in the third quarter. Hollencrest Capital Management now owns 55,754 shares of the mining company's stock valued at $4,492,000 after purchasing an additional 1,065 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of Agnico Eagle Mines in the third quarter valued at about $211,000. Finally, Confluence Investment Management LLC boosted its stake in shares of Agnico Eagle Mines by 3.7% during the third quarter. Confluence Investment Management LLC now owns 20,057 shares of the mining company's stock worth $1,616,000 after buying an additional 709 shares during the period. Hedge funds and other institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM traded down $1.69 during trading on Friday, hitting $83.84. 1,990,111 shares of the company were exchanged, compared to its average volume of 2,661,268. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 0.83. Agnico Eagle Mines Limited has a 1 year low of $44.37 and a 1 year high of $89.00. The company has a market cap of $42.07 billion, a price-to-earnings ratio of 41.92, a PEG ratio of 0.74 and a beta of 1.09. The firm's fifty day moving average price is $82.60 and its 200 day moving average price is $74.90.

Analyst Upgrades and Downgrades

AEM has been the topic of several recent research reports. Jefferies Financial Group boosted their price target 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. 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. Royal Bank of Canada increased their price target 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 shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Finally, Scotiabank upped their price objective on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a "sector outperform" rating in a research 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. Based on data from MarketBeat.com, the stock currently 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.