Charles Schwab Investment Management Inc. Increases Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Charles Schwab Investment Management Inc. boosted its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 3.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,136,854 shares of the mining company's stock after purchasing an additional 32,991 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.23% of Agnico Eagle Mines worth $91,681,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Continuum Advisory LLC boosted its holdings in Agnico Eagle Mines by 1,134.4% in the second quarter. Continuum Advisory LLC now owns 395 shares of the mining company's stock worth $26,000 after acquiring an additional 363 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new position in shares of Agnico Eagle Mines in the second quarter worth $32,000. FSC Wealth Advisors LLC acquired a new stake in shares of Agnico Eagle Mines during the third quarter worth $32,000. McClarren Financial Advisors Inc. increased its position 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 period. Finally, WASHINGTON TRUST Co raised its stake in Agnico Eagle Mines by 92.1% in the 2nd quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company's stock worth $48,000 after acquiring an additional 350 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Up 2.9 %

Shares of NYSE AEM opened at $84.11 on Wednesday. The firm has a market cap of $42.23 billion, a price-to-earnings ratio of 42.06, a price-to-earnings-growth ratio of 0.73 and a beta of 1.09. The company's 50-day simple moving average is $82.66 and its 200-day simple moving average is $76.19. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a 52-week low of $44.37 and a 52-week high of $89.00.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on AEM shares. Scotiabank raised their price objective 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. 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 research report on Tuesday, September 10th. Jefferies Financial Group upped their target price on Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a "hold" rating in a research note on Friday, October 4th. TD Securities boosted their price target on Agnico Eagle Mines from $90.00 to $91.00 and gave the company a "buy" rating in a report on Friday, August 2nd. Finally, UBS Group started coverage on shares of Agnico Eagle Mines in a report on Tuesday, September 17th. They set a "buy" rating and a $95.00 target price for the company. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.