Tradition Wealth Management LLC Reduces Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Tradition Wealth Management LLC cut its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 9.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,286 shares of the mining company’s stock after selling 352 shares during the quarter. Tradition Wealth Management LLC’s holdings in Agnico Eagle Mines were worth $265,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AEM. Continuum Advisory LLC lifted its holdings 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 valued at $26,000 after acquiring an additional 363 shares during the period. Abich Financial Wealth Management LLC acquired a new position in shares of Agnico Eagle Mines during the 2nd quarter worth approximately $32,000. FSC Wealth Advisors LLC purchased a new position in shares of Agnico Eagle Mines during the 3rd quarter valued at approximately $32,000. McClarren Financial Advisors Inc. grew its stake in Agnico Eagle Mines by 684.6% in the 3rd 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 period. Finally, WASHINGTON TRUST Co increased its holdings in Agnico Eagle Mines by 92.1% in the 2nd quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock worth $48,000 after acquiring an additional 350 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Trading Down 1.8 %

Shares of AEM stock opened at $82.87 on Tuesday. 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 twelve month low of $44.37 and a twelve month high of $89.00. The company’s 50-day moving average price is $82.80 and its 200-day moving average price is $76.63. The stock has a market cap of $41.61 billion, a price-to-earnings ratio of 41.44, a PEG ratio of 0.66 and a beta of 1.09.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AEM shares. Jefferies Financial Group increased their price objective 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. UBS Group started coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They set a “buy” rating and a $95.00 target price for the company. Royal Bank of Canada lifted their price target 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. Finally, Scotiabank increased their price objective on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus 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.