Investors Buy Large Volume of Agnico Eagle Mines Put Options (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM - Get Free Report) TSE: AEM saw unusually large options trading on Tuesday. Stock traders bought 10,389 put options on the company. This represents an increase of 101% compared to the typical daily volume of 5,181 put options.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AEM. Jefferies Financial Group increased their price target on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a "hold" rating in a research report on Friday, October 4th. TD Securities increased their target price on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. UBS Group started coverage on shares of 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. Scotiabank raised their price objective on Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a "sector outperform" rating in a report on Monday, August 19th. Finally, Royal Bank of Canada boosted their target price on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an "outperform" rating in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $86.78.

Agnico Eagle Mines Stock Performance

Shares of NYSE:AEM traded down $0.10 during midday trading on Tuesday, hitting $85.79. The stock had a trading volume of 1,513,684 shares, compared to its average volume of 2,653,709. The company has a market capitalization of $43.04 billion, a PE ratio of 42.64, a P/E/G ratio of 0.74 and a beta of 1.09. Agnico Eagle Mines has a 1 year low of $44.37 and a 1 year high of $89.00. The stock has a 50 day moving average price of $82.38 and a two-hundred day moving average price of $74.46. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06.

Institutional Trading of Agnico Eagle Mines

Hedge funds have recently modified their holdings of the business. Aigen Investment Management LP purchased a new position in Agnico Eagle Mines in the third quarter worth $607,000. GSA Capital Partners LLP lifted its stake in shares of Agnico Eagle Mines by 132.2% in the third quarter. GSA Capital Partners LLP now owns 18,472 shares of the mining company's stock valued at $1,488,000 after purchasing an additional 10,516 shares during the period. Tacita Capital Inc boosted its holdings in Agnico Eagle Mines by 13.1% during the third quarter. Tacita Capital Inc now owns 4,570 shares of the mining company's stock worth $369,000 after buying an additional 530 shares in the last quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management acquired a new position in Agnico Eagle Mines during the third quarter worth about $6,847,000. Finally, Baker Avenue Asset Management LP purchased a new position in Agnico Eagle Mines in the third quarter valued at about $242,000. 68.34% of the stock is owned by institutional investors and hedge funds.

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.