B&L Asset Management LLC Invests $2.95 Million in Agnico Eagle Mines Limited

B&L Asset Management LLC has acquired a new stake in Agnico Eagle Mines Limited (NYSE:AEM, TSE:AEM) during the third quarter. According to the latest filing with the Securities and Exchange Commission, the institutional investor purchased 36,646 shares of the mining company, valued at approximately $2.95 million. This investment represents about 1.9% of B&L Asset Management LLC's total holdings, making Agnico Eagle Mines its 18th largest investment.

In addition to B&L Asset Management's recent acquisition, several other significant investors have also adjusted their positions in Agnico Eagle Mines. Continuum Advisory LLC notably increased its stake by 1,134.4% in the second quarter and now owns 395 shares valued at roughly $26,000 after acquiring an additional 363 shares. Similarly, FSC Wealth Advisors LLC bought a new stake in the third quarter worth about $32,000, while Abich Financial Wealth Management LLC made a comparable investment of $32,000 during the same period. McClarren Financial Advisors Inc. reported a 684.6% increase in its position during the third quarter, owning 510 shares valued at $41,000 following the acquisition of 445 additional shares. Lastly, WASHINGTON TRUST Co also enhanced its holdings by 92.1% in the second quarter, now owning 730 shares worth about $48,000. Overall, institutional investors control approximately 68.34% of Agnico Eagle Mines' stock.

Analyst Ratings and Forecasts

Various analysts have recently reviewed Agnico Eagle Mines and issued price target upgrades. Royal Bank of Canada increased its price target from $80.00 to $87.00, giving the company an "outperform" rating. A report from UBS Group initiated coverage on Agnico Eagle Mines, setting a "buy" rating and a target price of $95.00. Jefferies Financial Group raised its price target from $68.00 to $85.00, maintaining a "hold" rating. Additionally, Scotiabank boosted their price objective from $81.00 to $94.00, designating the stock as a "sector outperform." Current data from MarketBeat indicates that one analyst has given a hold rating, while eight analysts are recommending a buy. The stock is being rated as a "Moderate Buy" with an average price target set at $86.78.

Performance Overview of Agnico Eagle Mines Stock

As of the latest trading session, Agnico Eagle Mines' stock opened at $84.42. The financials show a quick ratio of 0.83, a current ratio of 1.75, and a low debt-to-equity ratio of 0.06. The mining company's market capitalization stands at around $42.38 billion, with a price-to-earnings (P/E) ratio of 42.21. Its price-to-earnings growth (P/E/G) ratio is reported at 0.65, while the stock has a beta of 1.09. Over the past year, Agnico Eagle Mines experienced a low of $44.37 and a high of $89.00. Currently, the stock’s 50-day moving average is at $82.80, alongside a 200-day moving average of $76.52.

Company Profile of Agnico Eagle Mines

Agnico Eagle Mines Limited is a prominent gold mining company involved in the exploration, development, and production of precious metals. The company's operational sites are located in Canada, Australia, Finland, and Mexico, with ongoing exploration and development activities across Canada, Australia, Europe, Latin America, and the United States.

investment, stocks, mining