RiverGlades Family Offices LLC purchased a new stake in Agnico Eagle Mines Limited (NYSE:AEM – Free Report) (TSE:AEM) during the third quarter, Holdings Channel reports. The fund purchased 3,000 shares of the mining company’s stock, valued at approximately $242,000.
A number of other hedge funds have also recently made changes to their positions in the stock. FMR LLC grew its holdings in Agnico Eagle Mines by 43.5% during the 3rd quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock worth $1,213,311,000 after acquiring an additional 4,562,005 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Agnico Eagle Mines by 16.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,892,898 shares of the mining company’s stock worth $474,660,000 after purchasing an additional 817,240 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Agnico Eagle Mines by 17.1% in the third quarter. The Manufacturers Life Insurance Company now owns 4,051,140 shares of the mining company’s stock valued at $326,571,000 after buying an additional 591,178 shares during the last quarter. TD Asset Management Inc raised its stake in Agnico Eagle Mines by 10.3% in the second quarter. TD Asset Management Inc now owns 5,852,648 shares of the mining company’s stock valued at $382,720,000 after buying an additional 546,542 shares in the last quarter. Finally, Progeny 3 Inc. purchased a new stake in Agnico Eagle Mines during the 2nd quarter worth about $18,151,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.
Wall Street Analysts Forecast Growth
AEM has been the subject of several recent analyst reports. UBS Group assumed coverage on Agnico Eagle Mines in a research note on Tuesday, September 17th. They set a “buy” rating and a $95.00 target price for the company. TD Securities boosted their price target on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Scotiabank boosted their target price on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Jefferies Financial Group lifted their price target on Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Finally, Royal Bank of Canada increased their price objective on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.78.
Agnico Eagle Mines Stock Up 2.9 %
Shares of Agnico Eagle Mines stock opened at $84.11 on Wednesday. Agnico Eagle Mines Limited has a one year low of $44.37 and a one year high of $89.00. The company has a market cap of $42.23 billion, a P/E ratio of 42.06, a PEG ratio of 0.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75. The firm has a fifty day moving average of $82.66 and a two-hundred day moving average of $76.19.
Agnico Eagle Mines Company Profile
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.
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