Dynamic Technology Lab Private Ltd Acquires 18,767 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Dynamic Technology Lab Private Ltd increased its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 252.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,214 shares of the mining company's stock after purchasing an additional 18,767 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Agnico Eagle Mines were worth $2,111,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Manning & Napier Advisors LLC bought a new stake in shares of Agnico Eagle Mines in the second quarter worth $2,595,000. Tidal Investments LLC grew its position in shares of Agnico Eagle Mines by 87.8% in the 1st quarter. Tidal Investments LLC now owns 20,598 shares of the mining company's stock valued at $1,195,000 after buying an additional 9,628 shares during the last quarter. M&G Plc bought a new stake in shares of Agnico Eagle Mines in the 2nd quarter valued at about $1,802,000. Swiss National Bank raised its position in shares of Agnico Eagle Mines by 0.6% during the third quarter. Swiss National Bank now owns 1,506,558 shares of the mining company's stock worth $121,558,000 after acquiring an additional 9,400 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Agnico Eagle Mines in the second quarter worth approximately $7,084,000. Institutional investors own 68.34% of the company's stock.

Wall Street Analyst Weigh In

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

Agnico Eagle Mines Stock Performance

Shares of AEM stock traded down $3.21 during trading hours on Monday, reaching $81.09. 1,113,615 shares of the company traded hands, compared to its average volume of 2,650,445. The company has a market cap of $40.71 billion, a P/E ratio of 42.15, a P/E/G ratio of 0.73 and a beta of 1.09. Agnico Eagle Mines Limited has a 12-month low of $44.37 and a 12-month high of $89.00. The firm has a 50-day moving average price of $82.68 and a 200 day moving average price of $76.09. 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 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.