Agnico Eagle Mines Limited (NYSE:AEM) Stake Boosted by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec increased its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 14.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 225,965 shares of the mining company’s stock after purchasing an additional 29,106 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Agnico Eagle Mines were worth $18,223,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in AEM. Van ECK Associates Corp lifted its stake in Agnico Eagle Mines by 0.3% in the second 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. FMR LLC increased its holdings in shares of Agnico Eagle Mines by 43.5% in the 3rd 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 during the period. Massachusetts Financial Services Co. MA lifted its position in Agnico Eagle Mines by 1.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 13,281,926 shares of the mining company’s stock valued at $868,638,000 after purchasing an additional 134,872 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Agnico Eagle Mines by 4.1% during the 2nd quarter. CIBC Asset Management Inc now owns 6,083,606 shares of the mining company’s stock valued at $397,657,000 after purchasing an additional 237,347 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Agnico Eagle Mines by 16.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,892,898 shares of the mining company’s stock worth $474,660,000 after purchasing an additional 817,240 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

Analysts Set New Price Targets

AEM has been the topic of a number of recent analyst reports. UBS Group initiated coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They set a “buy” rating and a $95.00 price target on the stock. Scotiabank lifted their target price on 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 increased their price target on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Finally, Jefferies Financial Group lifted their price objective 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 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 presently has an average rating of “Moderate Buy” and an average target price of $86.78.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $84.42 on Monday. Agnico Eagle Mines Limited has a twelve month low of $44.37 and a twelve month 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 50-day moving average of $82.80 and a two-hundred day moving average of $76.57. The company has a market capitalization of $42.38 billion, a price-to-earnings ratio of 42.21, a PEG ratio of 0.66 and a beta of 1.09.

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.