Agnico Eagle Mines Limited (NYSE:AEM) Shares Bought by Wahed Invest LLC

Wahed Invest LLC lifted its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 11.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,547 shares of the mining company’s stock after purchasing an additional 660 shares during the period. Wahed Invest LLC’s holdings in Agnico Eagle Mines were worth $527,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Stifel Financial Corp grew its stake in shares of Agnico Eagle Mines by 6.2% in the 3rd quarter. Stifel Financial Corp now owns 471,686 shares of the mining company’s stock worth $37,999,000 after purchasing an additional 27,584 shares during the last quarter. Quantinno Capital Management LP grew its stake in shares of Agnico Eagle Mines by 10.8% in the 3rd quarter. Quantinno Capital Management LP now owns 17,561 shares of the mining company’s stock worth $1,415,000 after purchasing an additional 1,713 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Agnico Eagle Mines by 8.4% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 6,289 shares of the mining company’s stock worth $507,000 after purchasing an additional 486 shares during the last quarter. Harbor Advisors LLC acquired a new position in shares of Agnico Eagle Mines in the third quarter worth about $226,000. Finally, HighTower Advisors LLC boosted its holdings in shares of Agnico Eagle Mines by 10.8% in the third quarter. HighTower Advisors LLC now owns 50,066 shares of the mining company’s stock worth $4,035,000 after buying an additional 4,865 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AEM shares. UBS Group started coverage on shares of Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 target price for the company. Royal Bank of Canada raised their target price 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. Scotiabank raised their target price on shares of 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, Jefferies Financial Group raised their target price on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, October 4th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and a consensus target price of $86.78.

Agnico Eagle Mines Stock Performance

AEM stock opened at $83.59 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75. The stock has a market cap of $41.97 billion, a P/E ratio of 41.80, a P/E/G ratio of 0.67 and a beta of 1.07. The firm has a 50 day simple moving average of $82.93 and a 200 day simple moving average of $77.04. Agnico Eagle Mines Limited has a 52 week low of $44.37 and a 52 week high of $89.00.

Agnico Eagle Mines 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.