Geode Capital Management LLC Purchases 178,999 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Geode Capital Management LLC raised its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 8.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,256,714 shares of the mining company's stock after buying an additional 178,999 shares during the period. Geode Capital Management LLC owned about 0.45% of Agnico Eagle Mines worth $183,491,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Bridgewater Associates LP boosted its holdings in Agnico Eagle Mines by 123.2% in the third quarter. Bridgewater Associates LP now owns 204,168 shares of the mining company's stock valued at $16,448,000 after acquiring an additional 112,712 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Agnico Eagle Mines by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,136,854 shares of the mining company's stock valued at $91,681,000 after purchasing an additional 32,991 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Agnico Eagle Mines by 14.8% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 225,965 shares of the mining company's stock valued at $18,223,000 after purchasing an additional 29,106 shares during the last quarter. Mirabella Financial Services LLP acquired a new stake in shares of Agnico Eagle Mines during the third quarter worth $655,000. Finally, Citigroup Inc. raised its stake in Agnico Eagle Mines by 84.4% during the third quarter. Citigroup Inc. now owns 182,142 shares of the mining company's stock worth $14,689,000 after buying an additional 83,387 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Jefferies Financial Group upped their price target on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the company a "hold" rating in a research report on Friday, October 4th. Scotiabank lifted their target price on Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a "sector outperform" rating in a report on Monday, August 19th. Royal Bank of Canada raised their price objective 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. Finally, UBS Group initiated coverage on shares of Agnico Eagle Mines in a research report on Tuesday, September 17th. They set a "buy" rating and a $95.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $86.78.

Agnico Eagle Mines Stock Down 1.3 %

Shares of AEM traded down $1.08 on Monday, reaching $82.64. The company's stock had a trading volume of 1,408,642 shares, compared to its average volume of 2,589,399. 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 $41.48 billion, a PE ratio of 41.60, a PEG ratio of 0.68 and a beta of 1.07. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06. The firm has a fifty day moving average of $83.38 and a 200-day moving average of $77.76.

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.