M&G Plc Has $1.74 Million Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

M&G PLC cut its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 21.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,622 shares of the mining company's stock after selling 6,080 shares during the period. M&G PLC's holdings in Agnico Eagle Mines were worth $1,742,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Continuum Advisory LLC increased its stake 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 valued at $26,000 after acquiring an additional 363 shares during the last quarter. Abich Financial Wealth Management LLC bought a new position in shares of Agnico Eagle Mines in the 2nd quarter valued at $32,000. FSC Wealth Advisors LLC acquired a new position in shares of Agnico Eagle Mines during the 3rd quarter worth $32,000. McClarren Financial Advisors Inc. raised its holdings in shares of Agnico Eagle Mines by 684.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company's stock worth $41,000 after buying an additional 445 shares in the last quarter. Finally, WASHINGTON TRUST Co boosted 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 valued at $48,000 after buying an additional 350 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Trading Down 2.0 %

Shares of AEM stock traded down $1.69 on Friday, hitting $83.84. The company had a trading volume of 1,990,111 shares, compared to its average volume of 2,661,268. Agnico Eagle Mines Limited has a twelve month low of $44.37 and a twelve month high of $89.00. 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 firm has a market cap of $42.07 billion, a P/E ratio of 41.92, a P/E/G ratio of 0.74 and a beta of 1.09. The stock's 50-day moving average is $82.60 and its two-hundred day moving average is $74.90.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Jefferies Financial Group boosted 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 target price 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. 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 price target for the company. Scotiabank raised their price objective on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a "sector outperform" rating in a report on Monday, August 19th. Finally, Royal Bank of Canada boosted their price objective 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. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.