Freedom Investment Management Inc. Takes Position in Agnico Eagle Mines Limited (NYSE:AEM)

Freedom Investment Management Inc. purchased a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,127 shares of the mining company's stock, valued at approximately $574,000.

A number of other large investors also recently bought and sold shares of the stock. Van ECK Associates Corp raised its holdings in 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. FMR LLC lifted its holdings 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 acquiring an additional 4,562,005 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Agnico Eagle Mines by 1.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 13,281,926 shares of the mining company's stock worth $868,638,000 after purchasing an additional 134,872 shares during the period. CIBC Asset Management Inc increased its holdings in Agnico Eagle Mines by 4.1% in the 2nd quarter. CIBC Asset Management Inc now owns 6,083,606 shares of the mining company's stock valued at $397,657,000 after purchasing an additional 237,347 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Agnico Eagle Mines by 16.1% in the third 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 purchasing an additional 817,240 shares during the period. Hedge funds and other institutional investors own 68.34% of the company's stock.

Wall Street Analysts Forecast Growth

AEM has been the topic of several analyst reports. Royal Bank of Canada raised their target price on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an "outperform" rating in a report on Tuesday, September 10th. TD Securities lifted their target price 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. Jefferies Financial Group increased their price target on Agnico Eagle Mines from $68.00 to $85.00 and gave the company a "hold" rating in a report on Friday, October 4th. Scotiabank raised their price objective 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. Finally, UBS Group began coverage on Agnico Eagle Mines in a research report on Tuesday, September 17th. They issued a "buy" rating and a $95.00 target price on the stock. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $86.78.

Agnico Eagle Mines Stock Performance

AEM stock traded up $1.26 during trading on Friday, hitting $84.42. 889,636 shares of the company's stock traded hands, compared to its average volume of 2,639,384. The stock has a fifty day moving average price of $82.80 and a two-hundred day moving average price of $76.52. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a 52 week low of $44.37 and a 52 week high of $89.00. The stock has a market capitalization of $42.38 billion, a price-to-earnings ratio of 42.21, a price-to-earnings-growth ratio of 0.65 and a beta of 1.09.

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.