Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management Acquires Shares of 85,000 Agnico Eagle Mines Limited (NYSE:AEM)

Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management bought a new position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the third quarter, Holdings Channel reports. The fund bought 85,000 shares of the mining company’s stock, valued at approximately $6,847,000. Agnico Eagle Mines makes up 0.9% of Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management’s portfolio, making the stock its 28th biggest holding.

Other institutional investors also recently modified their holdings of the company. Continuum Advisory LLC boosted its holdings in Agnico Eagle Mines by 1,134.4% in the second quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock worth $26,000 after acquiring an additional 363 shares in the last quarter. FSC Wealth Advisors LLC purchased a new position in shares of Agnico Eagle Mines in the 3rd quarter worth about $32,000. Abich Financial Wealth Management LLC bought a new position in Agnico Eagle Mines in the 2nd quarter worth about $32,000. McClarren Financial Advisors Inc. grew its position in Agnico Eagle Mines by 684.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock valued at $41,000 after purchasing an additional 445 shares during the last quarter. Finally, WASHINGTON TRUST Co increased its stake in Agnico Eagle Mines by 92.1% during the 2nd quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock valued at $48,000 after purchasing an additional 350 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock traded down $1.69 during mid-day trading on Friday, reaching $83.84. 1,990,111 shares of the stock traded hands, compared to its average volume of 2,447,188. The stock has a market capitalization of $42.07 billion, a PE 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 current ratio of 1.75 and a quick ratio of 0.83. The business’s 50-day moving average is $82.60 and its 200-day moving average is $74.98. Agnico Eagle Mines Limited has a 12-month low of $44.37 and a 12-month high of $89.00.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AEM shares. Jefferies Financial Group upped 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. Royal Bank of Canada upped their price objective 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. TD Securities increased their target price on Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Scotiabank boosted their price target on Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Finally, 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 price objective on the stock. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.78.

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.