Harbor Advisors LLC Makes New $226,000 Investment in Agnico Eagle Mines Limited (NYSE:AEM)

Harbor Advisors LLC purchased a new position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,800 shares of the mining company’s stock, valued at approximately $226,000.

Other institutional investors have also recently bought and sold shares of the company. Sapient Capital LLC lifted its stake in shares of 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 acquiring an additional 145 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in shares of Agnico Eagle Mines by 2.2% during the second 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 in the last quarter. Azzad Asset Management Inc. ADV lifted its stake in shares of Agnico Eagle Mines by 0.3% during the second quarter. Azzad Asset Management Inc. ADV now owns 61,820 shares of the mining company’s stock worth $4,043,000 after buying an additional 189 shares during the period. Lombard Odier Asset Management Europe Ltd lifted its holdings in Agnico Eagle Mines by 0.4% during the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 49,651 shares of the mining company’s stock worth $3,248,000 after buying an additional 190 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft grew its stake in Agnico Eagle Mines by 4.8% in the 2nd 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 period. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AEM. Jefferies Financial Group boosted 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. Scotiabank boosted their price objective on Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Royal Bank of Canada upped their target price on 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 initiated coverage on shares of Agnico Eagle Mines in a research report on Tuesday, September 17th. They set a “buy” rating and a $95.00 target price on the stock. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.78.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $82.87 on Tuesday. The business has a 50 day moving average price of $82.80 and a 200-day moving average price of $76.63. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a 52 week low of $44.37 and a 52 week high of $89.00. The company has a market cap of $41.61 billion, a PE ratio of 41.44, a price-to-earnings-growth ratio of 0.66 and a beta of 1.09.

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.