Euro Pacific Asset Management LLC Has $43.01 Million Position in Agnico Eagle Mines Limited (NYSE:AEM)

Euro Pacific Asset Management LLC trimmed its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 8.4% in the fourth quarter, HoldingsChannel reports. The fund owned 543,262 shares of the mining company’s stock after selling 49,605 shares during the period. Agnico Eagle Mines makes up 9.3% of Euro Pacific Asset Management LLC’s investment portfolio, making the stock its biggest position. Euro Pacific Asset Management LLC’s holdings in Agnico Eagle Mines were worth $43,014,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. Versant Capital Management Inc bought a new stake in Agnico Eagle Mines in the fourth quarter valued at approximately $26,000. Decker Retirement Planning Inc. bought a new stake in Agnico Eagle Mines during the 4th quarter valued at approximately $29,000. FSC Wealth Advisors LLC purchased a new stake in Agnico Eagle Mines in the third quarter worth $32,000. McClarren Financial Advisors Inc. increased its stake in shares of Agnico Eagle Mines by 684.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock worth $41,000 after acquiring an additional 445 shares in the last quarter. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Agnico Eagle Mines during the third quarter valued at approximately $48,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM opened at $89.80 on Friday. The company has a market capitalization of $45.10 billion, a P/E ratio of 44.90, a P/E/G ratio of 0.60 and a beta of 1.08. Agnico Eagle Mines Limited has a 1-year low of $44.37 and a 1-year high of $90.49. The firm’s 50 day simple moving average is $82.82 and its two-hundred day simple moving average is $80.92. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 0.83.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Scotiabank raised their price objective on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research note on Tuesday. Jefferies Financial Group boosted their price target on Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $90.50.

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.