Agnico Eagle Mines (NYSE:AEM) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $78.87 and traded as high as $82.15. Agnico Eagle Mines shares last traded at $81.99, with a volume of 1,665,510 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently commented on the company. UBS Group initiated coverage on Agnico Eagle Mines in a research note on Tuesday, September 17th. They set a “buy” rating and a $95.00 target price for the company. Royal Bank of Canada boosted their price objective on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Finally, Jefferies Financial Group raised their target price on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a report on Friday, October 4th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $86.78.

Agnico Eagle Mines Stock Performance

The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06. The firm’s fifty day moving average price is $82.27 and its 200-day moving average price is $78.99. The firm has a market cap of $40.69 billion, a price-to-earnings ratio of 40.54, a PEG ratio of 0.68 and a beta of 1.08.

Institutional Trading of Agnico Eagle Mines

Large investors have recently made changes to their positions in the company. FMR LLC lifted its stake in Agnico Eagle Mines by 43.5% in the third quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock valued at $1,213,311,000 after buying an additional 4,562,005 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Agnico Eagle Mines by 1.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 13,281,926 shares of the mining company’s stock worth $868,638,000 after acquiring an additional 134,872 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Agnico Eagle Mines by 16.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,892,898 shares of the mining company’s stock valued at $474,660,000 after acquiring an additional 817,240 shares during the period. National Bank of Canada FI raised its position in Agnico Eagle Mines by 7.4% in the 3rd quarter. National Bank of Canada FI now owns 4,155,349 shares of the mining company’s stock valued at $334,749,000 after purchasing an additional 285,565 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Agnico Eagle Mines by 17.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,051,140 shares of the mining company’s stock worth $326,571,000 after purchasing an additional 591,178 shares during the period. 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.