Marlin Sams Capital Management LLC's Largest Position in Agnico Eagle Mines Limited

Marlin Sams Capital Management LLC has reduced its stake in Agnico Eagle Mines Limited (NYSE:AEM) by 13.0% during the third quarter, as indicated in its recent Form 13F filing with the Securities and Exchange Commission. After selling 300,000 shares during this period, the institutional investor currently owns 2,000,000 shares of the mining company.

Agnico Eagle Mines constitutes around 84.2% of Marlin Sams Capital Management LLC's total holdings, making it the largest position in their portfolio. Based on the latest filings, the company owned approximately 0.40% of Agnico Eagle Mines, valued at $161,120,000.

Several other hedge funds and institutional investors have also adjusted their positions in Agnico Eagle Mines recently. Continuum Advisory LLC significantly increased its stake by 1,134.4% in the second quarter, bringing its total to 395 shares valued at $26,000. Similarly, Abich Financial Wealth Management LLC took a new position worth about $32,000 during the same period. In the third quarter, FSC Wealth Advisors LLC and McClarren Financial Advisors Inc. also acquired new stakes valued at approximately $32,000 and $41,000, respectively. Currently, around 68.34% of the shares are owned by hedge funds and institutional investors.

Wall Street Reaction

A number of analysts have recently provided updates on shares of Agnico Eagle Mines. TD Securities raised its price target from $90.00 to $91.00 while maintaining a "buy" rating as of August 2nd. On August 19th, Scotiabank increased its target from $81.00 to $94.00 and rated the stock as "sector outperform." Royal Bank of Canada also raised its target price from $80.00 to $87.00 on September 10th. Furthermore, UBS Group initiated coverage on Agnico Eagle Mines on September 17th, giving it a "buy" rating with a price objective of $95.00. Jefferies Financial Group revised their target from $68.00 to $85.00 and rated the stock as a "hold" on October 4th. Overall, one analyst has placed a hold rating on the stock, while eight have assigned a buy rating, leading to a consensus of "Moderate Buy" with an average price target of $86.78.

Agnico Eagle Mines Stock Movement

As of today, NYSE AEM opened at $83.84. The stock has seen a 50-day moving average of $82.60 and a 200-day moving average of $74.90. Financial ratios indicate that 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 market capitalization stands at $42.07 billion, with a PE ratio of 41.92 and a P/E/G ratio of 0.74. Over the past year, Agnico Eagle Mines has reached a low of $44.37 and a high of $89.00.

About Agnico Eagle Mines Limited

Agnico Eagle Mines Limited is a prominent gold mining company involved in the exploration, development, and production of precious metals, primarily gold. The company's operations are based in multiple countries, including Canada, Australia, Finland, and Mexico, with extensive exploration and development activities across Canada, Australia, Europe, Latin America, and the United States.

Stocks, Investment, Mining