Black Swift Group LLC Makes New Investment in Agnico Eagle Mines Limited (NYSE:AEM)

Black Swift Group LLC purchased a new stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 8,500 shares of the mining company's stock, valued at approximately $685,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Avantax Advisory Services Inc. boosted its holdings in Agnico Eagle Mines by 3.6% in the first quarter. Avantax Advisory Services Inc. now owns 16,616 shares of the mining company's stock valued at $991,000 after purchasing an additional 585 shares during the last quarter. Delos Wealth Advisors LLC grew its position in shares of Agnico Eagle Mines by 43.6% during the first quarter. Delos Wealth Advisors LLC now owns 36,855 shares of the mining company's stock worth $2,198,000 after buying an additional 11,196 shares in the last quarter. Anthracite Investment Company Inc. increased its stake in shares of Agnico Eagle Mines by 12.5% in the first quarter. Anthracite Investment Company Inc. now owns 45,000 shares of the mining company's stock worth $2,684,000 after buying an additional 5,000 shares during the last quarter. Cumberland Partners Ltd acquired a new stake in Agnico Eagle Mines in the first quarter valued at $639,000. Finally, Acadian Asset Management LLC raised its holdings in Agnico Eagle Mines by 12.5% in the first quarter. Acadian Asset Management LLC now owns 7,200 shares of the mining company's stock valued at $429,000 after acquiring an additional 799 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company's stock.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock traded up $1.65 during trading hours on Thursday, hitting $77.64. 3,803,404 shares of the company traded hands, compared to its average volume of 2,677,504. The firm's 50-day simple moving average is $82.45 and its two-hundred day simple moving average is $75.24. The firm has a market cap of $38.96 billion, a P/E ratio of 38.00, a P/E/G ratio of 0.67 and a beta of 1.09. Agnico Eagle Mines Limited has a 1-year low of $44.37 and a 1-year high of $89.00. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AEM. 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 report on Friday, August 2nd. UBS Group initiated coverage on Agnico Eagle Mines in a research note on Tuesday, September 17th. They set a "buy" rating and a $95.00 price objective on the stock. Scotiabank lifted their target price on Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a "sector outperform" rating in a research report on Monday, August 19th. Jefferies Financial Group boosted their price target on Agnico Eagle Mines from $68.00 to $85.00 and gave the company a "hold" rating in a report on Friday, October 4th. Finally, Royal Bank of Canada raised their price objective on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock 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 given a buy rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines presently has an average rating of "Moderate Buy" and a consensus price target of $86.78.

Agnico Eagle Mines 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.