Metis Global Partners LLC Acquires 7,209 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Metis Global Partners LLC lifted its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 16.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 51,899 shares of the mining company’s stock after buying an additional 7,209 shares during the quarter. Metis Global Partners LLC’s holdings in Agnico Eagle Mines were worth $4,181,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AEM. Continuum Advisory LLC lifted its position in shares of Agnico Eagle Mines by 1,134.4% during the 2nd quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock valued at $26,000 after acquiring an additional 363 shares during the period. FSC Wealth Advisors LLC acquired a new stake in Agnico Eagle Mines during the 3rd quarter worth approximately $32,000. Abich Financial Wealth Management LLC acquired a new stake in Agnico Eagle Mines in the second quarter valued at $32,000. McClarren Financial Advisors Inc. raised its position in shares of Agnico Eagle Mines by 684.6% during the third quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock worth $41,000 after acquiring an additional 445 shares during the last quarter. Finally, WASHINGTON TRUST Co lifted its holdings in Agnico Eagle Mines by 92.1% in the second quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock valued at $48,000 after buying an additional 350 shares during the period. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Trading Up 2.2 %

Shares of AEM stock opened at $77.64 on Friday. The stock has a market capitalization of $38.96 billion, a PE ratio of 38.82, a P/E/G ratio of 0.67 and a beta of 1.09. 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 business has a 50-day moving average of $82.43 and a 200 day moving average of $75.26.

Analyst Upgrades and Downgrades

AEM has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their target price on 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 target price on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Scotiabank upped their price objective on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Jefferies Financial Group boosted their target price 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. Finally, UBS Group began coverage on Agnico Eagle Mines in a research note on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price objective for the company. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Agnico Eagle Mines presently has an average rating of “Moderate Buy” and an average price target of $86.78.

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.