Agnico Eagle Mines Limited (NYSE:AEM) Shares Acquired by Bridgewater Associates LP

Bridgewater Associates LP increased its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 123.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 204,168 shares of the mining company's stock after purchasing an additional 112,712 shares during the quarter. Bridgewater Associates LP's holdings in Agnico Eagle Mines were worth $16,448,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC lifted its stake in shares of Agnico Eagle Mines by 43.5% in 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 during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in 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 lifted its position 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 purchasing an additional 591,178 shares during the period. TD Asset Management Inc boosted its holdings in Agnico Eagle Mines by 10.3% in the 2nd quarter. TD Asset Management Inc now owns 5,852,648 shares of the mining company's stock valued at $382,720,000 after purchasing an additional 546,542 shares in the last quarter. Finally, Progeny 3 Inc. acquired a new position in Agnico Eagle Mines during the 2nd quarter worth approximately $18,151,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AEM. Scotiabank lifted their price target on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a "sector outperform" rating in a research note on Monday, August 19th. UBS Group started coverage on shares of Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a "buy" rating and a $95.00 price target for the company. TD Securities raised their price objective on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Royal Bank of Canada upped their target price on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 10th. Finally, Jefferies Financial Group lifted their price target on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the company a "hold" rating in a research report on Friday, October 4th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $86.78.

Agnico Eagle Mines Price Performance

Shares of Agnico Eagle Mines stock traded down $0.56 during trading on Thursday, hitting $83.55. 1,682,864 shares of the company were exchanged, compared to its average volume of 2,646,990. Agnico Eagle Mines Limited has a fifty-two week low of $44.37 and a fifty-two 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. The firm has a 50 day moving average price of $82.74 and a 200 day moving average price of $76.35. The stock has a market capitalization of $41.95 billion, a price-to-earnings ratio of 41.78, a P/E/G ratio of 0.70 and a beta of 1.09.

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.