Massachusetts Financial Services Co. MA lessened its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 2.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,956,967 shares of the mining company's stock after selling 324,959 shares during the quarter. Massachusetts Financial Services Co. MA owned 2.58% of Agnico Eagle Mines worth $1,043,813,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Scheer Rowlett & Associates Investment Management Ltd. increased its holdings in Agnico Eagle Mines by 4.3% in the third quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 4,805 shares of the mining company's stock valued at $387,000 after buying an additional 200 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 valued at $474,660,000 after purchasing an additional 817,240 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Agnico Eagle Mines by 8.7% during the third quarter. PNC Financial Services Group Inc. now owns 11,995 shares of the mining company's stock worth $966,000 after purchasing an additional 965 shares during the last quarter. Pathstone Holdings LLC boosted its position in Agnico Eagle Mines by 1.4% during the third quarter. Pathstone Holdings LLC now owns 16,468 shares of the mining company's stock worth $1,327,000 after purchasing an additional 230 shares in the last quarter. Finally, LMR Partners LLP acquired a new stake in Agnico Eagle Mines in the third quarter valued at $244,000. Institutional investors and hedge funds own 68.34% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have commented on the company. Jefferies Financial Group lifted 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. TD Securities boosted their price objective on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Scotiabank upped their price objective 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 upped their price target on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 10th. Finally, UBS Group assumed coverage on Agnico Eagle Mines in a research note on Tuesday, September 17th. They issued a "buy" rating and a $95.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $86.78.
Get Our Latest Report on Agnico Eagle Mines
Agnico Eagle Mines Stock Up 0.9 %
AEM traded up $0.77 on Thursday, reaching $83.57. The company's stock had a trading volume of 1,395,106 shares, compared to its average volume of 2,662,349. Agnico Eagle Mines Limited has a 1 year low of $44.37 and a 1 year high of $89.00. The business's 50 day moving average is $82.65 and its 200 day moving average is $75.83. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 0.83. The stock has a market cap of $41.96 billion, a price-to-earnings ratio of 41.79, a price-to-earnings-growth ratio of 0.72 and a beta of 1.09.
About Agnico Eagle Mines
(
Free Report)
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.
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