MQS Management LLC Takes $1.34 Million Position in Agnico Eagle Mines Limited (NYSE:AEM)

MQS Management LLC acquired a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 16,590 shares of the mining company’s stock, valued at approximately $1,336,000. Agnico Eagle Mines accounts for about 0.7% of MQS Management LLC’s holdings, making the stock its largest position.

A number of other large investors also recently bought and sold shares of the stock. Van ECK Associates Corp boosted its holdings in Agnico Eagle Mines by 0.3% during the 2nd quarter. Van ECK Associates Corp now owns 22,320,085 shares of the mining company’s stock valued at $1,459,741,000 after acquiring an additional 58,681 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Agnico Eagle Mines by 1.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 13,281,926 shares of the mining company’s stock worth $868,638,000 after buying an additional 134,872 shares in the last quarter. Capital World Investors grew its stake in shares of Agnico Eagle Mines by 0.8% in the first quarter. Capital World Investors now owns 9,769,275 shares of the mining company’s stock worth $582,529,000 after acquiring an additional 79,275 shares in the last quarter. First Eagle Investment Management LLC increased its position in shares of Agnico Eagle Mines by 10.8% during the first quarter. First Eagle Investment Management LLC now owns 6,891,385 shares of the mining company’s stock worth $411,106,000 after acquiring an additional 672,503 shares during the period. Finally, CIBC Asset Management Inc raised its stake in shares of Agnico Eagle Mines by 4.1% in the second quarter. CIBC Asset Management Inc now owns 6,083,606 shares of the mining company’s stock valued at $397,657,000 after acquiring an additional 237,347 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AEM shares. Royal Bank of Canada raised their target price on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Jefferies Financial Group raised their price objective 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. TD Securities boosted 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. 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 target on the stock. Finally, Scotiabank upped their price objective on Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.78.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $77.15 on Wednesday. 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 company has a market cap of $38.71 billion, a PE ratio of 38.58, a P/E/G ratio of 0.68 and a beta of 1.09. The stock has a fifty day moving average price of $82.50 and a 200 day moving average price of $75.24. Agnico Eagle Mines Limited has a 1-year low of $44.37 and a 1-year high of $89.00.

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.