Tidal Investments LLC Decreases Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Tidal Investments LLC lessened its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 20.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,088 shares of the mining company’s stock after selling 3,966 shares during the period. Tidal Investments LLC’s holdings in Agnico Eagle Mines were worth $1,215,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Assenagon Asset Management S.A. grew its stake in Agnico Eagle Mines by 4.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 14,828 shares of the mining company’s stock valued at $970,000 after purchasing an additional 682 shares during the period. Blue Trust Inc. grew its position in Agnico Eagle Mines by 46.5% during the second quarter. Blue Trust Inc. now owns 1,634 shares of the mining company’s stock valued at $97,000 after buying an additional 519 shares during the period. Summit Global Investments increased its holdings in Agnico Eagle Mines by 29.0% during the second quarter. Summit Global Investments now owns 5,448 shares of the mining company’s stock worth $356,000 after buying an additional 1,226 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in Agnico Eagle Mines by 2.2% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 7,217 shares of the mining company’s stock worth $472,000 after acquiring an additional 158 shares during the period. Finally, Zweig DiMenna Associates LLC bought a new stake in Agnico Eagle Mines in the second quarter worth about $5,736,000. 68.34% of the stock is owned by institutional investors.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock opened at $77.76 on Thursday. The firm has a market capitalization of $39.03 billion, a P/E ratio of 38.88, a PEG ratio of 0.68 and a beta of 1.07. Agnico Eagle Mines Limited has a one year low of $44.37 and a one 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 fifty day moving average price of $83.53 and a 200-day moving average price of $77.95.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AEM. UBS Group started coverage on shares of Agnico Eagle Mines in a research note on Tuesday, September 17th. They set a “buy” rating and a $95.00 price target for the company. Royal Bank of Canada boosted their target price on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Finally, Jefferies Financial Group upped their price target 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. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Agnico Eagle Mines has an average rating of “Moderate Buy” and an average target price of $86.78.

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.