Agnico Eagle Mines Limited (NYSE:AEM) Short Interest Up 19.8% in January

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) saw a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 4,110,000 shares, an increase of 19.8% from the December 31st total of 3,430,000 shares. Currently, 0.8% of the company’s shares are short sold. Based on an average trading volume of 1,990,000 shares, the days-to-cover ratio is currently 2.1 days.

Wall Street Analysts Forecast Growth

AEM has been the topic of several analyst reports. Jefferies Financial Group increased their target price on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Tuesday, January 7th. Scotiabank lifted their target price on Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $90.50.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $94.58 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 0.83. The firm has a market cap of $47.51 billion, a price-to-earnings ratio of 47.21, a price-to-earnings-growth ratio of 0.62 and a beta of 1.10. Agnico Eagle Mines has a one year low of $44.37 and a one year high of $95.38. The stock’s 50-day moving average is $83.69 and its 200-day moving average is $81.61.

Institutional Investors Weigh In On Agnico Eagle Mines

Several institutional investors have recently bought and sold shares of AEM. AQR Capital Management LLC lifted its position in shares of Agnico Eagle Mines by 23.3% in the second quarter. AQR Capital Management LLC now owns 13,017 shares of the mining company’s stock worth $851,000 after purchasing an additional 2,464 shares in the last quarter. Creative Planning lifted its position in Agnico Eagle Mines by 17.4% during the 2nd quarter. Creative Planning now owns 29,420 shares of the mining company’s stock worth $1,924,000 after buying an additional 4,351 shares in the last quarter. Truist Financial Corp grew its holdings in shares of Agnico Eagle Mines by 10.4% in the 2nd quarter. Truist Financial Corp now owns 45,315 shares of the mining company’s stock valued at $2,964,000 after acquiring an additional 4,276 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Agnico Eagle Mines in the 2nd quarter valued at about $678,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Agnico Eagle Mines during the second quarter worth about $7,084,000. Institutional investors own 68.34% of the company’s stock.

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.