Swiss National Bank Grows Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

Swiss National Bank increased its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 0.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,506,558 shares of the mining company's stock after acquiring an additional 9,400 shares during the period. Swiss National Bank owned about 0.30% of Agnico Eagle Mines worth $121,558,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Continuum Advisory LLC raised its stake in shares of 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 period. FSC Wealth Advisors LLC purchased a new stake in shares of Agnico Eagle Mines during the third quarter worth $32,000. Abich Financial Wealth Management LLC bought a new position in shares of Agnico Eagle Mines in the second quarter worth $32,000. McClarren Financial Advisors Inc. grew its position in shares of Agnico Eagle Mines by 684.6% in 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 increased its holdings in shares of 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. Institutional investors and hedge funds own 68.34% of the company's stock.

Agnico Eagle Mines Stock Up 2.9 %

Agnico Eagle Mines stock traded up $2.34 during mid-day trading on Tuesday, reaching $82.33. The stock had a trading volume of 1,353,130 shares, compared to its average volume of 2,670,542. 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 company has a market capitalization of $41.33 billion, a price-to-earnings ratio of 40.73, a PEG ratio of 0.67 and a beta of 1.09. The company has a 50-day moving average price of $82.47 and a two-hundred day moving average price of $75.60. Agnico Eagle Mines Limited has a one year low of $44.37 and a one year high of $89.00.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AEM. Jefferies Financial Group increased their price target on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the company a "hold" rating in a research report on Friday, October 4th. TD Securities boosted their price target on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Royal Bank of Canada raised their price objective on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an "outperform" rating in a research note on Tuesday, September 10th. UBS Group started coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They set a "buy" rating and a $95.00 target price for the company. Finally, Scotiabank upped their price objective on shares of 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. One 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, the company has an average rating of "Moderate Buy" and a consensus target price of $86.78.

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.