MQS Management LLC Acquires Shares of 16,590 Agnico Eagle Mines Limited (NYSE:AEM)

MQS Management LLC purchased a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,590 shares of the mining company's stock, valued at approximately $1,336,000. Agnico Eagle Mines makes up approximately 0.7% of MQS Management LLC's portfolio, making the stock its largest holding.

Several other large investors have also recently added to or reduced their stakes in the stock. Aigen Investment Management LP acquired a new stake in Agnico Eagle Mines in the third quarter worth $607,000. GSA Capital Partners LLP increased its holdings in shares of Agnico Eagle Mines by 132.2% during the 3rd quarter. GSA Capital Partners LLP now owns 18,472 shares of the mining company's stock valued at $1,488,000 after acquiring an additional 10,516 shares during the last quarter. Tacita Capital Inc grew its holdings in Agnico Eagle Mines by 13.1% in the 3rd quarter. Tacita Capital Inc now owns 4,570 shares of the mining company's stock valued at $369,000 after buying an additional 530 shares during the last quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management bought a new position in shares of Agnico Eagle Mines during the 3rd quarter worth approximately $6,847,000. Finally, Baker Avenue Asset Management LP bought a new position in Agnico Eagle Mines in the 3rd quarter valued at $242,000. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Trading Down 1.5 %

Shares of Agnico Eagle Mines stock traded down $1.16 on Wednesday, reaching $75.99. 2,187,667 shares of the company's stock were exchanged, compared to its average volume of 2,671,600. The company has a market capitalization of $38.13 billion, a P/E ratio of 38.20, a price-to-earnings-growth ratio of 0.67 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. The firm's 50-day moving average is $82.50 and its two-hundred day moving average is $75.24. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75.

Wall Street Analyst Weigh In

AEM has been the subject of several research analyst reports. Jefferies Financial Group lifted 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. UBS Group assumed coverage on Agnico Eagle Mines in a research report on Tuesday, September 17th. They set a "buy" rating and a $95.00 target price for the company. Royal Bank of Canada boosted their target price on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 10th. TD Securities boosted 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, Scotiabank boosted 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. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently 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.