Atria Investments Inc Makes New Investment in Agnico Eagle Mines Limited (NYSE:AEM)

Atria Investments Inc acquired a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,961 shares of the mining company’s stock, valued at approximately $239,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Continuum Advisory LLC raised its holdings in Agnico Eagle Mines by 1,134.4% during the 2nd quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock valued at $26,000 after buying an additional 363 shares during the last quarter. Abich Financial Wealth Management LLC bought a new position in shares of Agnico Eagle Mines during the second quarter valued at about $32,000. FSC Wealth Advisors LLC bought a new position in shares of Agnico Eagle Mines during the third quarter valued at about $32,000. McClarren Financial Advisors Inc. boosted 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 purchasing an additional 445 shares during the period. Finally, WASHINGTON TRUST Co grew its stake in shares of Agnico Eagle Mines by 92.1% in the second quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock worth $48,000 after purchasing an additional 350 shares during the last quarter. 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 $84.30 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75. The company has a 50 day simple moving average of $82.68 and a two-hundred day simple moving average of $76.03. Agnico Eagle Mines Limited has a fifty-two week low of $44.37 and a fifty-two week high of $89.00. The company has a market capitalization of $42.32 billion, a price-to-earnings ratio of 42.15, a P/E/G ratio of 0.73 and a beta of 1.09.

Analyst Upgrades and Downgrades

AEM has been the subject of a number of recent analyst reports. TD Securities upped their price target on Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Scotiabank raised their price target on Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Jefferies Financial Group boosted their price objective on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Royal Bank of Canada raised their target price on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Finally, UBS Group assumed coverage on shares of Agnico Eagle Mines in a research note on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price target for the company. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.