Wellington Management Group LLP Sells 135,554 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Wellington Management Group LLP cut its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 31.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 300,653 shares of the mining company's stock after selling 135,554 shares during the quarter. Wellington Management Group LLP owned approximately 0.06% of Agnico Eagle Mines worth $24,227,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Continuum Advisory LLC lifted its holdings in Agnico Eagle Mines by 1,134.4% during the 2nd quarter. Continuum Advisory LLC now owns 395 shares of the mining company's stock worth $26,000 after buying an additional 363 shares in the last quarter. FSC Wealth Advisors LLC bought a new stake in shares of Agnico Eagle Mines during the third quarter worth $32,000. Abich Financial Wealth Management LLC acquired a new position in shares of Agnico Eagle Mines during the second quarter valued at $32,000. McClarren Financial Advisors Inc. boosted its holdings in Agnico Eagle Mines by 684.6% in the third quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company's stock valued at $41,000 after acquiring an additional 445 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in Agnico Eagle Mines in the third quarter worth about $58,000. 68.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AEM shares. Scotiabank raised their target price on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the company a "sector outperform" rating in a research note 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 company an "outperform" rating in a research note on Tuesday, September 10th. Jefferies Financial Group upped their target price 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. Finally, UBS Group began coverage on Agnico Eagle Mines in a research report on Tuesday, September 17th. They issued a "buy" rating and a $95.00 price target 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 stock presently has an average rating of "Moderate Buy" and an average target price of $86.78.

Agnico Eagle Mines Trading Down 1.7 %

Shares of AEM traded down $1.49 during trading hours on Friday, reaching $83.72. The stock had a trading volume of 1,907,368 shares, compared to its average volume of 2,594,177. The company has a market cap of $42.02 billion, a P/E ratio of 41.86, a P/E/G ratio of 0.68 and a beta of 1.07. Agnico Eagle Mines Limited has a 52 week low of $44.37 and a 52 week high of $89.00. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average of $83.38 and a 200 day moving average of $77.63.

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.