Agnico Eagle Mines Limited (NYSE:AEM) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lessened its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 10.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,291,512 shares of the mining company's stock after selling 157,309 shares during the period. Franklin Resources Inc. owned 0.26% of Agnico Eagle Mines worth $103,766,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of AEM. FMR LLC raised its position in shares of Agnico Eagle Mines by 43.5% during the 3rd quarter. FMR LLC now owns 15,061,244 shares of the mining company's stock valued at $1,213,311,000 after buying an additional 4,562,005 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Agnico Eagle Mines by 16.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,892,898 shares of the mining company's stock valued at $474,660,000 after acquiring an additional 817,240 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Agnico Eagle Mines by 262.5% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,060,402 shares of the mining company's stock valued at $85,413,000 after buying an additional 767,912 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Agnico Eagle Mines by 17.1% during the third quarter. The Manufacturers Life Insurance Company now owns 4,051,140 shares of the mining company's stock worth $326,571,000 after purchasing an additional 591,178 shares during the period. Finally, TD Asset Management Inc boosted its position 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 buying an additional 546,542 shares during the period. Hedge funds and other institutional investors own 68.34% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on AEM. Scotiabank lifted their price target on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a "sector outperform" rating in a research note on Monday, August 19th. Royal Bank of Canada lifted their target price on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the company an "outperform" rating in a report on Tuesday, September 10th. Jefferies Financial Group boosted their target price 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, UBS Group started coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They set a "buy" rating and a $95.00 price objective on the stock. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $86.78.

Agnico Eagle Mines Price Performance

NYSE:AEM traded down $1.08 during trading hours on Monday, reaching $82.65. 1,487,214 shares of the company traded hands, compared to its average volume of 2,589,399. Agnico Eagle Mines Limited has a 1-year low of $44.37 and a 1-year high of $89.00. The stock has a market cap of $41.48 billion, a P/E ratio of 41.32, a P/E/G ratio of 0.68 and a beta of 1.07. The firm's 50-day moving average is $83.46 and its 200-day moving average is $77.86. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 0.83.

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.