Zurcher Kantonalbank Zurich Cantonalbank Purchases 1,551 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 0.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 193,172 shares of the mining company’s stock after acquiring an additional 1,551 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Agnico Eagle Mines were worth $15,579,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AEM. Sapient Capital LLC lifted its position in Agnico Eagle Mines by 1.3% during the third quarter. Sapient Capital LLC now owns 11,001 shares of the mining company’s stock valued at $886,000 after purchasing an additional 145 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in shares of Agnico Eagle Mines by 2.2% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 7,217 shares of the mining company’s stock valued at $472,000 after acquiring an additional 158 shares during the last quarter. Azzad Asset Management Inc. ADV lifted its holdings in shares of Agnico Eagle Mines by 0.3% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 61,820 shares of the mining company’s stock valued at $4,043,000 after acquiring an additional 189 shares during the last quarter. Lombard Odier Asset Management Europe Ltd grew its position in Agnico Eagle Mines by 0.4% in the second quarter. Lombard Odier Asset Management Europe Ltd now owns 49,651 shares of the mining company’s stock worth $3,248,000 after acquiring an additional 190 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft increased its stake in Agnico Eagle Mines by 4.8% during the second quarter. Baader Bank Aktiengesellschaft now owns 4,192 shares of the mining company’s stock worth $269,000 after acquiring an additional 192 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock opened at $84.42 on Friday. 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 stock has a market cap of $42.38 billion, a price-to-earnings ratio of 42.21, a price-to-earnings-growth ratio of 0.65 and a beta of 1.09. The firm has a 50-day moving average of $82.80 and a two-hundred day moving average of $76.52. Agnico Eagle Mines Limited has a 1 year low of $44.37 and a 1 year high of $89.00.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AEM. Jefferies Financial Group lifted their target price on Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Scotiabank boosted their price objective on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. 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 report on Tuesday, September 10th. Finally, UBS Group started coverage on shares of Agnico Eagle Mines in a report on Tuesday, September 17th. They set a “buy” rating and a $95.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $86.78.

Agnico Eagle Mines 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.