General American Investors Co. Inc. Trims Stake in Agnico Eagle Mines Limited (NYSE:AEM)

General American Investors Co. Inc. lessened its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 14.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 415,000 shares of the mining company's stock after selling 70,000 shares during the quarter. Agnico Eagle Mines accounts for approximately 2.3% of General American Investors Co. Inc.'s holdings, making the stock its 12th biggest position. General American Investors Co. Inc. owned approximately 0.08% of Agnico Eagle Mines worth $33,432,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Continuum Advisory LLC raised its holdings in Agnico Eagle Mines by 1,134.4% in 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. Abich Financial Wealth Management LLC purchased a new position in shares of Agnico Eagle Mines during the 2nd quarter valued at about $32,000. FSC Wealth Advisors LLC bought a new position in shares of Agnico Eagle Mines during the 3rd quarter valued at approximately $32,000. McClarren Financial Advisors Inc. increased its holdings in Agnico Eagle Mines by 684.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company's stock worth $41,000 after acquiring an additional 445 shares in the last quarter. Finally, WASHINGTON TRUST Co raised its stake in Agnico Eagle Mines by 92.1% during the 2nd quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company's stock worth $48,000 after acquiring an additional 350 shares during the period. Institutional investors own 68.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AEM. CIBC upped their price target on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the stock an "outperformer" rating in a research report on Wednesday, July 10th. Royal Bank of Canada raised their price target on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an "outperform" rating in a report on Tuesday, September 10th. Jefferies Financial Group boosted their price objective on 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 increased their target price on Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Finally, UBS Group started coverage on Agnico Eagle Mines in a research note on Tuesday, September 17th. They set a "buy" rating and a $95.00 target price on the stock. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. 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 Price Performance

Shares of NYSE:AEM traded up $2.37 on Thursday, reaching $85.54. The company's stock had a trading volume of 3,290,843 shares, compared to its average volume of 2,664,375. The company has a 50-day simple moving average of $82.49 and a 200 day simple moving average of $74.67. 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 company has a market cap of $42.92 billion, a P/E ratio of 41.60, a PEG ratio of 0.74 and a beta of 1.09. Agnico Eagle Mines Limited has a 52-week low of $44.37 and a 52-week high of $89.00.

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.