Arizona State Retirement System Purchases Shares of 8,901 Agnico Eagle Mines Limited $AEM

Arizona State Retirement System acquired a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 8,901 shares of the mining company’s stock, valued at approximately $1,500,000.

Other large investors have also recently made changes to their positions in the company. Pure Portfolios Holdings LLC raised its stake in Agnico Eagle Mines by 1.6% in the 3rd quarter. Pure Portfolios Holdings LLC now owns 3,781 shares of the mining company’s stock worth $637,000 after acquiring an additional 60 shares during the last quarter. HB Wealth Management LLC raised its stake in shares of Agnico Eagle Mines by 1.2% in the third quarter. HB Wealth Management LLC now owns 5,640 shares of the mining company’s stock worth $951,000 after purchasing an additional 69 shares during the last quarter. Union Bancaire Privee UBP SA lifted its holdings in shares of Agnico Eagle Mines by 1.6% during the third quarter. Union Bancaire Privee UBP SA now owns 4,446 shares of the mining company’s stock worth $749,000 after purchasing an additional 72 shares during the period. Blue Bell Private Wealth Management LLC boosted its position in Agnico Eagle Mines by 59.7% in the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock valued at $33,000 after buying an additional 74 shares during the last quarter. Finally, Evergreen Capital Management LLC increased its holdings in Agnico Eagle Mines by 0.9% in the 2nd quarter. Evergreen Capital Management LLC now owns 8,232 shares of the mining company’s stock worth $979,000 after buying an additional 77 shares during the period. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Up 3.9%

AEM opened at $196.86 on Friday. The company has a fifty day moving average of $185.34 and a two-hundred day moving average of $164.58. The stock has a market capitalization of $98.56 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 0.46 and a beta of 0.63. Agnico Eagle Mines Limited has a fifty-two week low of $92.11 and a fifty-two week high of $225.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.12.

Analysts Set New Price Targets

AEM has been the subject of several research reports. Citigroup lifted their price objective on shares of Agnico Eagle Mines from $198.00 to $256.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Zacks Research cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Weiss Ratings lowered shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a report on Monday, January 12th. Jefferies Financial Group set a $189.00 price target on Agnico Eagle Mines in a research report on Sunday, December 7th. Finally, UBS Group reissued a “neutral” rating and issued a $240.00 price objective on shares of Agnico Eagle Mines in a report on Friday, January 30th. Four equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $230.64.

About Agnico Eagle Mines

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.