Citigroup Inc. Acquires 83,387 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Citigroup Inc. increased its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 84.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 182,142 shares of the mining company’s stock after acquiring an additional 83,387 shares during the quarter. Citigroup Inc.’s holdings in Agnico Eagle Mines were worth $14,689,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Sapient Capital LLC raised its stake in shares of Agnico Eagle Mines by 1.3% in the third quarter. Sapient Capital LLC now owns 11,001 shares of the mining company’s stock valued at $886,000 after buying an additional 145 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in shares of Agnico Eagle Mines by 2.2% in 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 buying an additional 158 shares during the period. Azzad Asset Management Inc. ADV raised its stake in shares of Agnico Eagle Mines by 0.3% in the second quarter. Azzad Asset Management Inc. ADV now owns 61,820 shares of the mining company’s stock valued at $4,043,000 after buying an additional 189 shares during the period. Lombard Odier Asset Management Europe Ltd raised its stake in shares of Agnico Eagle Mines by 0.4% in the second quarter. Lombard Odier Asset Management Europe Ltd now owns 49,651 shares of the mining company’s stock valued at $3,248,000 after buying an additional 190 shares during the period. Finally, Baader Bank Aktiengesellschaft raised its stake in shares of Agnico Eagle Mines by 4.8% in the second quarter. Baader Bank Aktiengesellschaft now owns 4,192 shares of the mining company’s stock valued at $269,000 after buying an additional 192 shares during the period. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock opened at $83.54 on Thursday. Agnico Eagle Mines Limited has a 52 week low of $44.37 and a 52 week high of $89.00. The business has a 50-day simple moving average of $82.70 and a 200 day simple moving average of $76.30. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock has a market cap of $41.94 billion, a price-to-earnings ratio of 42.17, a PEG ratio of 0.70 and a beta of 1.09.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AEM. Scotiabank boosted their target price 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. TD Securities lifted their price target on Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. UBS Group began coverage on Agnico Eagle Mines in a research report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price target for the company. Jefferies Financial Group lifted their price target on Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Finally, Royal Bank of Canada lifted their price target on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and a consensus target price of $86.78.

About Agnico Eagle Mines

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.