Verus Capital Partners LLC Sells 216 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Verus Capital Partners LLC cut its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,273 shares of the mining company’s stock after selling 216 shares during the period. Verus Capital Partners LLC’s holdings in Agnico Eagle Mines were worth $989,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Continuum Advisory LLC grew its stake in Agnico Eagle Mines by 1,134.4% in the 2nd quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock valued at $26,000 after purchasing an additional 363 shares during the period. Abich Financial Wealth Management LLC purchased a new position in shares of Agnico Eagle Mines in the 2nd quarter worth about $32,000. FSC Wealth Advisors LLC bought a new position in Agnico Eagle Mines during the third quarter valued at about $32,000. McClarren Financial Advisors Inc. increased its holdings in Agnico Eagle Mines by 684.6% during the third quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock worth $41,000 after buying an additional 445 shares during the last quarter. Finally, WASHINGTON TRUST Co raised its position in Agnico Eagle Mines by 92.1% in the second quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock worth $48,000 after acquiring an additional 350 shares during the period. 68.34% of the stock is owned by institutional investors.

Agnico Eagle Mines Trading Down 1.3 %

Shares of Agnico Eagle Mines stock opened at $77.15 on Wednesday. The company’s 50-day moving average price is $82.50 and its 200-day moving average price is $75.24. 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 12-month low of $44.37 and a 12-month high of $89.00. The company has a market cap of $38.71 billion, a price-to-earnings ratio of 38.58, a PEG ratio of 0.73 and a beta of 1.09.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AEM. Royal Bank of Canada increased their target price on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. 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 report on Monday, August 19th. UBS Group assumed coverage on Agnico Eagle Mines in a research note on Tuesday, September 17th. They issued a “buy” rating and a $95.00 target price on the stock. Jefferies Financial Group increased their price target on Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Finally, TD Securities boosted their price objective on Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.