Agnico Eagle Mines (NYSE:AEM) Shares Gap Down - Time to Sell?

Agnico Eagle Mines Limited (NYSE:AEM - Get Free Report) TSE: AEM shares gapped down before the market opened on Monday . The stock had previously closed at $83.84, but opened at $80.91. Agnico Eagle Mines shares last traded at $80.10, with a volume of 767,807 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. 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. TD Securities raised their target price on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. UBS Group started coverage on shares of Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a "buy" rating and a $95.00 price target on the stock. Jefferies Financial Group raised their price objective on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a "hold" rating in a research note on Friday, October 4th. Finally, Royal Bank of Canada boosted their target price on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the company an "outperform" rating in a research note 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, Agnico Eagle Mines currently has a consensus rating of "Moderate Buy" and a consensus target price of $86.78.

Agnico Eagle Mines Stock Down 6.6 %

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 business's 50 day moving average price is $82.60 and its 200 day moving average price is $75.06. The firm has a market cap of $39.30 billion, a PE ratio of 41.92, a PEG ratio of 0.72 and a beta of 1.09.

Institutional Trading of Agnico Eagle Mines

Institutional investors have recently made changes to their positions in the company. Manning & Napier Advisors LLC acquired a new stake in shares of Agnico Eagle Mines in the second quarter valued at about $2,595,000. Tidal Investments LLC lifted its position in Agnico Eagle Mines by 87.8% during the first quarter. Tidal Investments LLC now owns 20,598 shares of the mining company's stock worth $1,195,000 after buying an additional 9,628 shares in the last quarter. M&G Plc acquired a new position in Agnico Eagle Mines during the second quarter worth $1,802,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Agnico Eagle Mines in the 2nd quarter valued at $7,084,000. Finally, Gunderson Capital Management Inc. acquired a new stake in shares of Agnico Eagle Mines in the 3rd quarter worth $3,583,000. 68.34% of the stock is owned by institutional investors and hedge funds.

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.

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