Independent Advisor Alliance Invests $772,000 in Agnico Eagle Mines Limited (NYSE:AEM)

Independent Advisor Alliance purchased a new stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM during the third quarter, according to its most recent filing with the SEC. The fund purchased 9,589 shares of the mining company's stock, valued at approximately $772,000.

Several other hedge funds have also bought and sold shares of AEM. Continuum Advisory LLC grew its holdings in shares of 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 purchasing an additional 363 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new position in shares of Agnico Eagle Mines in the 2nd quarter worth $32,000. FSC Wealth Advisors LLC bought a new stake in shares of Agnico Eagle Mines in the 3rd quarter worth about $32,000. McClarren Financial Advisors Inc. raised its position 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 valued at $41,000 after buying an additional 445 shares in the last quarter. Finally, WASHINGTON TRUST Co lifted its holdings in shares of Agnico Eagle Mines by 92.1% in the 2nd quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company's stock valued at $48,000 after acquiring an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company's stock.

Analyst Ratings Changes

AEM has been the topic of a number of recent research reports. Scotiabank upped their price objective on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a "sector outperform" rating in a research report on Monday, August 19th. TD Securities raised their price target 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. Jefferies Financial Group lifted 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. Royal Bank of Canada increased 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. Finally, UBS Group initiated coverage on shares of Agnico Eagle Mines in a research note on Tuesday, September 17th. They set a "buy" rating and a $95.00 price target for the company. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $86.78.

Agnico Eagle Mines Stock Down 0.7 %

Shares of NYSE:AEM traded down $0.56 during trading on Thursday, reaching $83.55. The stock had a trading volume of 1,682,864 shares, compared to its average volume of 2,646,990. The firm's 50-day simple moving average is $82.74 and its 200 day simple moving average is $76.35. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a one year low of $44.37 and a one year high of $89.00. The company has a market capitalization of $41.95 billion, a P/E ratio of 41.78, a PEG ratio of 0.70 and a beta of 1.09.

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.