JCIC Asset Management Inc. Makes New $6.44 Million Investment in Agnico Eagle Mines Limited (NYSE:AEM)

JCIC Asset Management Inc. bought a new position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 82,385 shares of the mining company's stock, valued at approximately $6,441,000. Agnico Eagle Mines comprises 2.6% of JCIC Asset Management Inc.'s holdings, making the stock its 10th biggest position.

A number of other institutional investors have also recently made changes to their positions in the company. FMR LLC grew 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 purchasing an additional 4,562,005 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Agnico Eagle Mines by 1.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 13,281,926 shares of the mining company's stock worth $868,638,000 after buying an additional 134,872 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in 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 worth $474,660,000 after acquiring an additional 817,240 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of 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 acquiring an additional 285,565 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Agnico Eagle Mines by 17.1% during 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 acquiring an additional 591,178 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AEM. 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 for the company. Jefferies Financial Group lifted their price objective on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a "hold" rating in a report on Tuesday, January 7th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $89.13.

Agnico Eagle Mines Trading Down 2.3 %

AEM traded down $1.92 on Monday, hitting $82.38. 1,319,536 shares of the company were exchanged, compared to its average volume of 1,565,304. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75. Agnico Eagle Mines Limited has a 12 month low of $44.37 and a 12 month high of $89.00. The firm has a fifty day simple moving average of $81.72 and a two-hundred day simple moving average of $79.90. The stock has a market capitalization of $41.35 billion, a PE ratio of 41.19, a price-to-earnings-growth ratio of 0.68 and a beta of 1.08.

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.