Principal Financial Group Inc. Increases Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Principal Financial Group Inc. boosted its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 1.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,822 shares of the mining company’s stock after acquiring 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.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Continuum Advisory LLC grew its position in Agnico Eagle Mines by 1,134.4% in the second quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock worth $26,000 after acquiring an additional 363 shares in the last quarter. FSC Wealth Advisors LLC purchased a new position in shares of Agnico Eagle Mines in the 3rd quarter worth about $32,000. Abich Financial Wealth Management LLC purchased a new position in shares of Agnico Eagle Mines in the 2nd quarter worth about $32,000. McClarren Financial Advisors Inc. raised its holdings 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 buying an additional 445 shares in the last quarter. Finally, WASHINGTON TRUST Co raised its holdings in shares of Agnico Eagle Mines by 92.1% during the 2nd quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock valued at $48,000 after buying an additional 350 shares in the last quarter. Institutional investors own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AEM shares. Royal Bank of Canada boosted their price target on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. UBS Group started coverage on Agnico Eagle Mines in a research report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price objective for the company. Scotiabank raised their target price on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Jefferies Financial Group upped their price target 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. Finally, TD Securities raised their price target on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and an average target price of $86.78.

Agnico Eagle Mines Price Performance

Shares of Agnico Eagle Mines stock opened at $84.31 on Friday. The firm has a market cap of $42.33 billion, a PE ratio of 42.16, a PEG ratio of 0.72 and a beta of 1.09. The stock has a 50 day moving average of $82.68 and a 200 day moving average of $75.96. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a 12 month low of $44.37 and a 12 month high of $89.00.

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.