TB Alternative Assets Ltd. Purchases New Position in Agnico Eagle Mines Limited (NYSE:AEM)

TB Alternative Assets Ltd. acquired a new position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 244,398 shares of the mining company’s stock, valued at approximately $19,114,000. Agnico Eagle Mines comprises approximately 4.9% of TB Alternative Assets Ltd.’s portfolio, making the stock its 5th biggest holding.

Several other hedge funds have also modified their holdings of AEM. Pinnacle Wealth Management Group Inc. lifted its holdings in shares of Agnico Eagle Mines by 0.5% in the 4th quarter. Pinnacle Wealth Management Group Inc. now owns 24,407 shares of the mining company’s stock valued at $1,909,000 after acquiring an additional 125 shares during the last quarter. Diversify Wealth Management LLC raised its position in Agnico Eagle Mines by 2.1% during the fourth quarter. Diversify Wealth Management LLC now owns 6,753 shares of the mining company’s stock valued at $569,000 after purchasing an additional 141 shares during the period. Sapient Capital LLC lifted its stake in shares of Agnico Eagle Mines by 1.3% in the 3rd quarter. Sapient Capital LLC now owns 11,001 shares of the mining company’s stock valued at $886,000 after purchasing an additional 145 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Agnico Eagle Mines by 34.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the mining company’s stock worth $51,000 after purchasing an additional 165 shares during the period. Finally, Lombard Odier Asset Management Europe Ltd increased its position in shares of Agnico Eagle Mines by 0.4% during the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 49,651 shares of the mining company’s stock valued at $3,248,000 after purchasing an additional 190 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Jefferies Financial Group raised their price target on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $89.13.

Agnico Eagle Mines Stock Up 1.1 %

Shares of NYSE:AEM opened at $85.12 on Tuesday. The business’s 50 day moving average is $81.84 and its 200 day moving average is $80.53. The stock has a market cap of $42.75 billion, a P/E ratio of 42.56, a price-to-earnings-growth ratio of 0.56 and a beta of 1.08. Agnico Eagle Mines Limited has a 52-week low of $44.37 and a 52-week high of $89.00. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06.

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.