Mirabella Financial Services LLP Makes New Investment in Agnico Eagle Mines Limited (NYSE:AEM)

Mirabella Financial Services LLP purchased a new position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,134 shares of the mining company's stock, valued at approximately $655,000.

Several other hedge funds have also recently modified their holdings of the business. Van ECK Associates Corp raised its stake in Agnico Eagle Mines by 0.3% during the 2nd 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 last quarter. Massachusetts Financial Services Co. MA increased 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 valued at $868,638,000 after acquiring an additional 134,872 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of 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 worth $397,657,000 after purchasing an additional 237,347 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in Agnico Eagle Mines by 16.1% during 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 buying an additional 817,240 shares during the period. Finally, TD Asset Management Inc increased its holdings in Agnico Eagle Mines by 10.3% during the second quarter. TD Asset Management Inc now owns 5,852,648 shares of the mining company's stock valued at $382,720,000 after buying an additional 546,542 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AEM shares. UBS Group began coverage on shares of Agnico Eagle Mines in a research report on Tuesday, September 17th. They set a "buy" rating and a $95.00 price objective for the company. TD Securities raised their price objective on Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Royal Bank of Canada boosted their price objective on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an "outperform" rating in a research note on Tuesday, September 10th. Scotiabank raised their target price on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a "sector outperform" rating in a research note on Monday, August 19th. Finally, Jefferies Financial Group upped their price target on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a "hold" rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Agnico Eagle Mines currently has an average rating of "Moderate Buy" and a consensus target price of $86.78.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM traded up $2.39 during midday trading on Tuesday, reaching $84.11. 1,903,253 shares of the company were exchanged, compared to its average volume of 2,651,194. The stock has a market cap of $42.23 billion, a PE ratio of 42.06, a price-to-earnings-growth ratio of 0.73 and a beta of 1.09. The business's fifty day moving average is $82.66 and its two-hundred day moving average is $76.19. Agnico Eagle Mines Limited has a one year low of $44.37 and a one year high of $89.00. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06.

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.