Pinnacle Wealth Management Group Inc. Grows Position in Agnico Eagle Mines Limited (NYSE:AEM)

Pinnacle Wealth Management Group Inc. increased its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 0.5% during the fourth quarter, Holdings Channel reports. The fund owned 24,407 shares of the mining company’s stock after acquiring an additional 125 shares during the quarter. Agnico Eagle Mines makes up approximately 1.2% of Pinnacle Wealth Management Group Inc.’s investment portfolio, making the stock its 27th biggest position. Pinnacle Wealth Management Group Inc.’s holdings in Agnico Eagle Mines were worth $1,909,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc acquired a new stake in shares of Agnico Eagle Mines during the fourth quarter worth $26,000. Abich Financial Wealth Management LLC acquired a new stake in Agnico Eagle Mines in the 2nd quarter worth about $32,000. FSC Wealth Advisors LLC purchased a new stake in Agnico Eagle Mines in the 3rd quarter valued at about $32,000. McClarren Financial Advisors Inc. increased its stake in shares of Agnico Eagle Mines by 684.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock valued at $41,000 after acquiring an additional 445 shares during the last quarter. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Agnico Eagle Mines during the 3rd quarter worth about $48,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AEM. UBS Group initiated coverage on shares of Agnico Eagle Mines in a research report on Tuesday, September 17th. They set a “buy” rating and a $95.00 price target for the company. Jefferies Financial Group raised their target price 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 analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.13.

Agnico Eagle Mines Stock Down 2.3 %

Agnico Eagle Mines stock opened at $82.38 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75. Agnico Eagle Mines Limited has a one year low of $44.37 and a one year high of $89.00. The company has a 50-day simple moving average of $81.72 and a 200-day simple moving average of $79.90. The firm has a market capitalization of $41.35 billion, a P/E ratio of 41.19, a P/E/G ratio of 0.68 and a beta of 1.08.

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.