Brown Brothers Harriman & Co. Acquires 1,130 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Brown Brothers Harriman & Co. grew its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 106.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,191 shares of the mining company’s stock after purchasing an additional 1,130 shares during the period. Brown Brothers Harriman & Co.’s holdings in Agnico Eagle Mines were worth $177,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Manning & Napier Advisors LLC bought a new stake in shares of Agnico Eagle Mines in the 2nd quarter worth $2,595,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Agnico Eagle Mines by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,136,854 shares of the mining company’s stock worth $91,681,000 after purchasing an additional 32,991 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Agnico Eagle Mines by 87.8% in the 1st quarter. Tidal Investments LLC now owns 20,598 shares of the mining company’s stock worth $1,195,000 after purchasing an additional 9,628 shares in the last quarter. M&G Plc bought a new stake in shares of Agnico Eagle Mines in the 2nd quarter worth $1,802,000. Finally, Swiss National Bank grew its holdings in shares of Agnico Eagle Mines by 0.6% in the third quarter. Swiss National Bank now owns 1,506,558 shares of the mining company’s stock worth $121,558,000 after acquiring an additional 9,400 shares during the period. Institutional investors own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Jefferies Financial Group lifted their price objective on Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, October 4th. TD Securities lifted their price objective on Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Scotiabank lifted 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. UBS Group assumed coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price objective for the company. Finally, Royal Bank of Canada lifted their price objective on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. One equities research 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, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and a consensus target price of $86.78.

Agnico Eagle Mines Trading Down 0.7 %

AEM opened at $83.54 on Thursday. The stock has a market cap of $41.94 billion, a price-to-earnings ratio of 41.77, a P/E/G ratio of 0.70 and a beta of 1.09. The stock’s 50 day moving average price is $82.70 and its 200-day moving average price is $76.30. Agnico Eagle Mines Limited has a one year low of $44.37 and a one year high of $89.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75.

About Agnico Eagle Mines

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.