Principal Financial Group Inc. Boosts Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Principal Financial Group Inc. boosted its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,822 shares of the mining company’s stock after purchasing an additional 302 shares during the period. Principal Financial Group Inc.’s holdings in Agnico Eagle Mines were worth $1,760,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of AEM. Abich Financial Wealth Management LLC purchased a new position in shares of Agnico Eagle Mines in the 2nd quarter worth about $32,000. FSC Wealth Advisors LLC bought a new stake in Agnico Eagle Mines in the third quarter worth about $32,000. McClarren Financial Advisors Inc. boosted its stake in Agnico Eagle Mines by 684.6% in the third 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. Hobbs Group Advisors LLC bought a new position in shares of Agnico Eagle Mines during the 3rd quarter valued at approximately $48,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of Agnico Eagle Mines during the 3rd quarter worth approximately $58,000. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $81.08 on Friday. Agnico Eagle Mines Limited has a 12-month low of $44.37 and a 12-month high of $89.00. 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 company has a market cap of $40.69 billion, a PE ratio of 40.54, a price-to-earnings-growth ratio of 0.68 and a beta of 1.08. The stock has a 50-day moving average price of $82.27 and a 200-day moving average price of $79.09.

Analyst Ratings Changes

AEM has been the topic of several research analyst reports. Jefferies Financial Group upped their price objective on Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, October 4th. UBS Group started coverage on Agnico Eagle Mines in a research note on Tuesday, September 17th. They set a “buy” rating and a $95.00 price objective on the stock. Finally, Royal Bank of Canada raised their target price on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $86.78.

Agnico Eagle Mines Company Profile

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.