Chase Investment Counsel Corp Trims Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Chase Investment Counsel Corp lessened its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,275 shares of the mining company’s stock after selling 1,334 shares during the period. Agnico Eagle Mines comprises 1.5% of Chase Investment Counsel Corp’s portfolio, making the stock its 28th largest holding. Chase Investment Counsel Corp’s holdings in Agnico Eagle Mines were worth $4,533,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Aigen Investment Management LP purchased a new stake in Agnico Eagle Mines during the 3rd quarter worth approximately $607,000. GSA Capital Partners LLP raised its position in shares of Agnico Eagle Mines by 132.2% during the 3rd quarter. GSA Capital Partners LLP now owns 18,472 shares of the mining company’s stock worth $1,488,000 after purchasing an additional 10,516 shares during the period. Tacita Capital Inc lifted its stake in Agnico Eagle Mines by 13.1% in the third quarter. Tacita Capital Inc now owns 4,570 shares of the mining company’s stock valued at $369,000 after buying an additional 530 shares during the last quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management acquired a new position in Agnico Eagle Mines during the 3rd quarter valued at about $6,847,000. Finally, Baker Avenue Asset Management LP bought a new position in Agnico Eagle Mines in the 3rd quarter worth approximately $242,000. 68.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AEM. TD Securities raised their target price 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. Royal Bank of Canada increased their target price on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Jefferies Financial Group lifted their price target on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. UBS Group began coverage on shares of Agnico Eagle Mines in a research note on Tuesday, September 17th. They set a “buy” rating and a $95.00 price objective on the stock. Finally, Scotiabank increased their target price 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. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $86.78.

Agnico Eagle Mines Stock Down 1.3 %

Agnico Eagle Mines stock opened at $77.15 on Wednesday. Agnico Eagle Mines Limited has a 52-week low of $44.37 and a 52-week high of $89.00. 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 firm has a 50 day moving average price of $82.50 and a two-hundred day moving average price of $75.24. The firm has a market cap of $38.71 billion, a price-to-earnings ratio of 38.58, a PEG ratio of 0.68 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.