Caldwell Investment Management Ltd. Sells 4,800 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Caldwell Investment Management Ltd. cut its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 5.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 78,300 shares of the mining company’s stock after selling 4,800 shares during the period. Agnico Eagle Mines comprises approximately 4.5% of Caldwell Investment Management Ltd.’s investment portfolio, making the stock its 6th biggest holding. Caldwell Investment Management Ltd.’s holdings in Agnico Eagle Mines were worth $6,406,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AEM. Sapient Capital LLC lifted its stake in shares of Agnico Eagle Mines by 1.3% in the 3rd quarter. Sapient Capital LLC now owns 11,001 shares of the mining company’s stock valued at $886,000 after purchasing an additional 145 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in shares of Agnico Eagle Mines by 2.2% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 7,217 shares of the mining company’s stock worth $472,000 after acquiring an additional 158 shares in the last quarter. Azzad Asset Management Inc. ADV grew its position in shares of Agnico Eagle Mines by 0.3% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 61,820 shares of the mining company’s stock valued at $4,043,000 after acquiring an additional 189 shares during the period. Lombard Odier Asset Management Europe Ltd increased its stake in shares of Agnico Eagle Mines by 0.4% in the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 49,651 shares of the mining company’s stock valued at $3,248,000 after purchasing an additional 190 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft increased its stake in shares of Agnico Eagle Mines by 4.8% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 4,192 shares of the mining company’s stock valued at $269,000 after purchasing an additional 192 shares in the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AEM. UBS Group began coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price objective on the stock. Royal Bank of Canada boosted their price target on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. TD Securities increased their price objective on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Jefferies Financial Group boosted their target price 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. Finally, Scotiabank raised their price target on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and an average price target of $86.78.

Agnico Eagle Mines Price Performance

AEM stock opened at $80.01 on Tuesday. Agnico Eagle Mines Limited has a 1 year low of $44.37 and a 1 year high of $89.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 0.83. The firm has a market capitalization of $40.17 billion, a PE ratio of 40.01, a price-to-earnings-growth ratio of 0.67 and a beta of 1.09. The business has a 50 day simple moving average of $82.47 and a 200-day simple moving average of $75.60.

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.