Agnico Eagle Mines Limited (NYSE:AEM) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 17.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,051,140 shares of the mining company's stock after acquiring an additional 591,178 shares during the period. The Manufacturers Life Insurance Company owned about 0.81% of Agnico Eagle Mines worth $326,571,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC acquired a new position in Agnico Eagle Mines during the second quarter worth about $2,595,000. Tidal Investments LLC grew its holdings in shares of Agnico Eagle Mines by 87.8% during the first quarter. Tidal Investments LLC now owns 20,598 shares of the mining company's stock worth $1,195,000 after buying an additional 9,628 shares in the last quarter. M&G Plc purchased a new stake in shares of Agnico Eagle Mines during the second quarter worth about $1,802,000. Swiss National Bank grew its holdings in shares of Agnico Eagle Mines by 0.6% during the third quarter. Swiss National Bank now owns 1,506,558 shares of the mining company's stock worth $121,558,000 after buying an additional 9,400 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Agnico Eagle Mines during the second quarter worth about $7,084,000. Institutional investors and hedge funds own 68.34% of the company's stock.

Agnico Eagle Mines Trading Up 2.9 %

AEM traded up $2.39 during trading on Tuesday, hitting $84.11. 1,903,253 shares of the company's stock were exchanged, compared to its average volume of 2,651,194. The stock has a 50 day moving average price of $82.66 and a 200 day moving average price of $76.19. Agnico Eagle Mines Limited has a 1 year low of $44.37 and a 1 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. The firm has a market cap of $42.23 billion, a P/E ratio of 42.06, a price-to-earnings-growth ratio of 0.73 and a beta of 1.09.

Wall Street Analyst Weigh In

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

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.