B&L Asset Management LLC Invests $2.95 Million in Agnico Eagle Mines Limited (NYSE:AEM)

B&L Asset Management LLC purchased a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 36,646 shares of the mining company's stock, valued at approximately $2,952,000. Agnico Eagle Mines comprises approximately 1.9% of B&L Asset Management LLC's portfolio, making the stock its 18th biggest holding.

A number of other large investors have also bought and sold shares of AEM. Sapient Capital LLC grew its holdings in shares of Agnico Eagle Mines by 1.3% in the third quarter. Sapient Capital LLC now owns 11,001 shares of the mining company's stock worth $886,000 after purchasing an additional 145 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in Agnico Eagle Mines by 2.2% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 7,217 shares of the mining company's stock valued at $472,000 after buying an additional 158 shares during the period. Azzad Asset Management Inc. ADV grew its holdings in Agnico Eagle Mines by 0.3% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 61,820 shares of the mining company's stock worth $4,043,000 after acquiring an additional 189 shares during the last quarter. Lombard Odier Asset Management Europe Ltd increased its position in shares of Agnico Eagle Mines by 0.4% in the second quarter. Lombard Odier Asset Management Europe Ltd now owns 49,651 shares of the mining company's stock valued at $3,248,000 after acquiring an additional 190 shares during the period. Finally, Baader Bank Aktiengesellschaft raised its stake in shares of Agnico Eagle Mines by 4.8% during the second quarter. Baader Bank Aktiengesellschaft now owns 4,192 shares of the mining company's stock valued at $269,000 after acquiring an additional 192 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Jefferies Financial Group raised 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. Scotiabank boosted their target price on 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. UBS Group began 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, Royal Bank of Canada lifted their price target on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the company an "outperform" rating in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Agnico Eagle Mines presently has a consensus rating of "Moderate Buy" and an average target price of $86.78.

Agnico Eagle Mines Stock Up 1.5 %

Shares of NYSE:AEM traded up $1.26 during midday trading on Friday, reaching $84.42. The company's stock had a trading volume of 889,636 shares, compared to its average volume of 2,289,920. Agnico Eagle Mines Limited has a 12-month low of $44.37 and a 12-month high of $89.00. The firm has a market capitalization of $42.38 billion, a P/E ratio of 42.21, a PEG ratio of 0.66 and a beta of 1.09. The firm has a 50 day moving average of $82.80 and a 200-day moving average of $76.57. 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 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.