Freedom Investment Management Inc. Purchases Shares of 7,127 Agnico Eagle Mines Limited (NYSE:AEM)

Freedom Investment Management Inc. acquired a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,127 shares of the mining company’s stock, valued at approximately $574,000.

Several other hedge funds also recently modified their holdings of the stock. D.A. Davidson & CO. increased its position in Agnico Eagle Mines by 7.3% in the 3rd quarter. D.A. Davidson & CO. now owns 12,236 shares of the mining company’s stock valued at $986,000 after buying an additional 831 shares in the last quarter. FMR LLC increased its position in shares of Agnico Eagle Mines by 43.5% during the third quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock worth $1,213,311,000 after acquiring an additional 4,562,005 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Agnico Eagle Mines by 17.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,051,140 shares of the mining company’s stock worth $326,571,000 after acquiring an additional 591,178 shares during the last quarter. Mirabella Financial Services LLP bought a new position in shares of Agnico Eagle Mines in the third quarter valued at approximately $655,000. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Agnico Eagle Mines by 106.5% during the third quarter. Brown Brothers Harriman & Co. now owns 2,191 shares of the mining company’s stock valued at $177,000 after buying an additional 1,130 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AEM. Royal Bank of Canada increased 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. UBS Group assumed coverage on Agnico Eagle Mines in a research note on Tuesday, September 17th. They set a “buy” rating and a $95.00 target price on the stock. TD Securities boosted their price target on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Scotiabank raised their price objective 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. Finally, 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 research note on Friday, October 4th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.78.

Agnico Eagle Mines Trading Up 1.1 %

Shares of Agnico Eagle Mines stock opened at $84.50 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 0.83. Agnico Eagle Mines Limited has a 1 year low of $44.37 and a 1 year high of $89.00. The firm has a market cap of $42.42 billion, a PE ratio of 42.25, a PEG ratio of 0.65 and a beta of 1.09. The company has a 50 day simple moving average of $82.78 and a two-hundred day simple moving average of $76.40.

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.