Geode Capital Management LLC Increases Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

Geode Capital Management LLC boosted its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 8.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,256,714 shares of the mining company’s stock after purchasing an additional 178,999 shares during the quarter. Geode Capital Management LLC owned about 0.45% of Agnico Eagle Mines worth $183,491,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of AEM. Sapient Capital LLC raised its holdings in shares of Agnico Eagle Mines by 1.3% in the third quarter. Sapient Capital LLC now owns 11,001 shares of the mining company’s stock valued at $886,000 after buying an additional 145 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in Agnico Eagle Mines by 2.2% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 7,217 shares of the mining company’s stock worth $472,000 after acquiring an additional 158 shares during the period. Azzad Asset Management Inc. ADV lifted its position in Agnico Eagle Mines by 0.3% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 61,820 shares of the mining company’s stock worth $4,043,000 after acquiring an additional 189 shares during the period. Lombard Odier Asset Management Europe Ltd grew its stake in shares of Agnico Eagle Mines by 0.4% in the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 49,651 shares of the mining company’s stock valued at $3,248,000 after purchasing an additional 190 shares during the last quarter. Finally, Evanson Asset Management LLC increased its holdings in shares of Agnico Eagle Mines by 5.2% in the third quarter. Evanson Asset Management LLC now owns 4,023 shares of the mining company’s stock valued at $324,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AEM shares. 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 for the company. Royal Bank of Canada lifted 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. Jefferies Financial Group increased their price target on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Finally, Scotiabank lifted their price objective on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.78.

Agnico Eagle Mines Price Performance

AEM stock opened at $83.72 on Monday. The firm has a 50 day moving average of $83.38 and a 200-day moving average of $77.76. The company has a market cap of $42.02 billion, a price-to-earnings ratio of 41.86, a PEG ratio of 0.68 and a beta of 1.07. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a 12-month low of $44.37 and a 12-month high of $89.00.

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.