Meixler Investment Management Ltd. Cuts Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Meixler Investment Management Ltd. trimmed its position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 56.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,580 shares of the mining company's stock after selling 7,231 shares during the quarter. Meixler Investment Management Ltd.'s holdings in Agnico Eagle Mines were worth $450,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management acquired a new stake in shares of Agnico Eagle Mines in the third quarter valued at about $6,847,000. Baker Avenue Asset Management LP acquired a new stake in Agnico Eagle Mines during the 3rd quarter valued at approximately $242,000. Sigma Planning Corp bought a new position in Agnico Eagle Mines during the 3rd quarter worth approximately $208,000. Atria Investments Inc bought a new position in Agnico Eagle Mines during the 3rd quarter worth approximately $239,000. Finally, Oxbow Advisors LLC lifted its holdings in Agnico Eagle Mines by 0.7% during the 3rd quarter. Oxbow Advisors LLC now owns 178,532 shares of the mining company's stock worth $14,383,000 after buying an additional 1,173 shares during the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Trading Down 6.5 %

Shares of NYSE AEM traded down $5.45 during midday trading on Monday, reaching $78.39. The stock had a trading volume of 3,887,726 shares, compared to its average volume of 2,666,896. The firm has a market cap of $39.33 billion, a price-to-earnings ratio of 41.92, a price-to-earnings-growth ratio of 0.72 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75. Agnico Eagle Mines Limited has a twelve month low of $44.37 and a twelve month high of $89.00. The company's 50 day moving average price is $82.60 and its 200 day moving average price is $75.06.

Analyst Ratings Changes

AEM has been the topic of several analyst reports. Royal Bank of Canada raised their target price on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an "outperform" rating in a research report on Tuesday, September 10th. Scotiabank lifted 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 boosted 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. UBS Group began coverage on Agnico Eagle Mines in a research report on Tuesday, September 17th. They issued a "buy" rating and a $95.00 price target for the company. Finally, Jefferies Financial Group lifted their price objective 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. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $86.78.

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.