FSA Wealth Management LLC Makes New Investment in Agnico Eagle Mines Limited (NYSE:AEM)

FSA Wealth Management LLC acquired a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 721 shares of the mining company’s stock, valued at approximately $58,000.

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

Analysts Set New Price Targets

A number of research firms have weighed in on AEM. Royal Bank of Canada lifted their price objective on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. UBS Group began coverage on 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. Scotiabank increased their price target on Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Finally, Jefferies Financial Group boosted their price objective on Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, October 4th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and a consensus target price of $86.78.

Agnico Eagle Mines Stock Up 1.0 %

Shares of AEM opened at $84.42 on Monday. The stock has a 50 day moving average price of $82.80 and a 200 day moving average price of $76.57. 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 stock has a market capitalization of $42.38 billion, a price-to-earnings ratio of 42.21, a PEG ratio of 0.66 and a beta of 1.09. Agnico Eagle Mines Limited has a one year low of $44.37 and a one year 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.