CIBC Asset Management Inc Sells 33,158 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

CIBC Asset Management Inc decreased its position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 0.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,050,448 shares of the mining company's stock after selling 33,158 shares during the quarter. Agnico Eagle Mines comprises approximately 1.6% of CIBC Asset Management Inc's investment portfolio, making the stock its 16th biggest holding. CIBC Asset Management Inc owned about 1.21% of Agnico Eagle Mines worth $488,757,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of AEM. Van ECK Associates Corp boosted its holdings in shares of Agnico Eagle Mines by 0.3% in the second quarter. Van ECK Associates Corp now owns 22,320,085 shares of the mining company's stock valued at $1,459,741,000 after buying an additional 58,681 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Agnico Eagle Mines by 1.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 13,281,926 shares of the mining company's stock valued at $868,638,000 after purchasing an additional 134,872 shares during the period. Capital World Investors lifted its holdings in shares of Agnico Eagle Mines by 0.8% in the first quarter. Capital World Investors now owns 9,769,275 shares of the mining company's stock valued at $582,529,000 after purchasing an additional 79,275 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Agnico Eagle Mines by 10.3% during the second quarter. TD Asset Management Inc now owns 5,852,648 shares of the mining company's stock worth $382,720,000 after buying an additional 546,542 shares during the period. Finally, National Bank of Canada FI lifted its stake in Agnico Eagle Mines by 27.9% in the 1st quarter. National Bank of Canada FI now owns 4,007,554 shares of the mining company's stock valued at $239,051,000 after acquiring an additional 874,920 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company's stock.

Agnico Eagle Mines Stock Performance

Shares of NYSE AEM traded down $1.12 during mid-day trading on Friday, reaching $76.52. 1,052,840 shares of the company were exchanged, compared to its average volume of 2,670,188. Agnico Eagle Mines Limited has a twelve month low of $44.37 and a twelve month high of $89.00. The stock has a market capitalization of $38.39 billion, a P/E ratio of 38.82, a P/E/G ratio of 0.66 and a beta of 1.09. The company's 50-day simple moving average is $82.43 and its 200-day simple moving average is $75.26. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06.

Analyst Ratings Changes

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

Agnico Eagle Mines 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.