Forsta AP Fonden Buys 16,000 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Forsta AP Fonden boosted its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 8.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 195,100 shares of the mining company’s stock after purchasing an additional 16,000 shares during the quarter. Forsta AP Fonden’s holdings in Agnico Eagle Mines were worth $15,256,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AEM. Versant Capital Management Inc acquired a new stake in shares of Agnico Eagle Mines during the fourth quarter worth $26,000. Decker Retirement Planning Inc. acquired a new stake in shares of Agnico Eagle Mines during the fourth quarter worth $29,000. FSC Wealth Advisors LLC acquired a new stake in shares of Agnico Eagle Mines during the third quarter worth $32,000. Fifth Third Bancorp lifted its holdings in shares of Agnico Eagle Mines by 176.9% during the fourth quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock worth $32,000 after buying an additional 260 shares in the last quarter. Finally, McClarren Financial Advisors Inc. lifted its holdings 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 buying an additional 445 shares in the last quarter. 68.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AEM has been the subject of a number of analyst reports. Scotiabank boosted their price target on Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. 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 investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $90.50.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $90.02 on Thursday. The stock has a market cap of $45.21 billion, a P/E ratio of 45.01, a price-to-earnings-growth ratio of 0.60 and a beta of 1.08. 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 stock’s 50-day moving average is $83.30 and its 200-day moving average is $81.32. Agnico Eagle Mines Limited has a 1-year low of $44.37 and a 1-year high of $91.30.

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.