Verition Fund Management LLC Acquires Shares of 4,138 Agnico Eagle Mines Limited (NYSE:AEM)

Verition Fund Management LLC bought a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the third quarter, Holdings Channel reports. The firm bought 4,138 shares of the mining company’s stock, valued at approximately $333,000.

A number of other hedge funds also recently made changes to their positions in AEM. Bridgewater Associates LP raised its position in Agnico Eagle Mines by 123.2% in the third quarter. Bridgewater Associates LP now owns 204,168 shares of the mining company’s stock worth $16,448,000 after acquiring an additional 112,712 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Agnico Eagle Mines by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,136,854 shares of the mining company’s stock valued at $91,681,000 after purchasing an additional 32,991 shares during the last quarter. Mirabella Financial Services LLP bought a new position in Agnico Eagle Mines during the third quarter valued at $655,000. Citigroup Inc. increased its position in Agnico Eagle Mines by 84.4% in the third quarter. Citigroup Inc. now owns 182,142 shares of the mining company’s stock worth $14,689,000 after buying an additional 83,387 shares during the last quarter. Finally, Swiss National Bank lifted its position in shares of Agnico Eagle Mines by 0.6% during the 3rd quarter. Swiss National Bank now owns 1,506,558 shares of the mining company’s stock valued at $121,558,000 after buying an additional 9,400 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Stock Down 1.7 %

AEM stock opened at $83.72 on Friday. The company’s 50 day moving average is $83.38 and its 200 day moving average is $77.63. The stock has a market cap of $42.02 billion, a price-to-earnings ratio of 41.86, a price-to-earnings-growth ratio of 0.68 and a beta of 1.07. 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 1-year low of $44.37 and a 1-year high of $89.00.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AEM. Scotiabank increased their target price on shares of 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. UBS Group started 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 target on the stock. 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 research note on Tuesday, September 10th. Finally, Jefferies Financial Group increased their target price on Agnico Eagle Mines from $68.00 to $85.00 and gave the stock 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 given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.