Tobam Decreases Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Tobam cut its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 41.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,533 shares of the mining company's stock after selling 6,857 shares during the period. Tobam's holdings in Agnico Eagle Mines were worth $746,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. FMR LLC lifted its position 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake 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 buying an additional 817,240 shares in the last quarter. National Bank of Canada FI increased its holdings in Agnico Eagle Mines by 7.4% in the 3rd quarter. National Bank of Canada FI now owns 4,155,349 shares of the mining company's stock valued at $334,749,000 after buying an additional 285,565 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Agnico Eagle Mines by 17.1% in the 3rd 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 in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Agnico Eagle Mines by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,256,714 shares of the mining company's stock worth $183,491,000 after acquiring an additional 178,999 shares during the period. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Trading Down 1.1 %

AEM traded down $1.10 during trading on Tuesday, reaching $99.41. 1,238,026 shares of the stock traded hands, compared to its average volume of 1,890,288. Agnico Eagle Mines Limited has a 12 month low of $44.37 and a 12 month high of $101.45. 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 stock's 50-day moving average is $85.42 and its 200 day moving average is $82.60. The stock has a market capitalization of $49.93 billion, a PE ratio of 49.71, a P/E/G ratio of 0.66 and a beta of 1.10.

Analysts Set New Price Targets

Several research firms have issued reports on AEM. Royal Bank of Canada increased their price objective on Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an "outperform" rating in a research note on Tuesday. Scotiabank boosted their price target on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, January 21st. Finally, Jefferies Financial Group raised their target price on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a "hold" rating in a report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $92.75.

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.