Agnico Eagle Mines Limited (NYSE:AEM) Shares Purchased by Blueshift Asset Management LLC

Blueshift Asset Management LLC grew its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 94.5% during the third quarter, Holdings Channel reports. The firm owned 6,390 shares of the mining company’s stock after purchasing an additional 3,105 shares during the quarter. Blueshift Asset Management LLC’s holdings in Agnico Eagle Mines were worth $515,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. FMR LLC grew its stake in shares of Agnico Eagle Mines by 43.5% in 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. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Agnico Eagle Mines by 16.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,892,898 shares of the mining company’s stock valued at $474,660,000 after purchasing an additional 817,240 shares during the period. The Manufacturers Life Insurance Company grew its stake in Agnico Eagle Mines by 17.1% during 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 purchasing an additional 591,178 shares in the last quarter. TD Asset Management Inc grew its stake in Agnico Eagle Mines by 10.3% during the 2nd quarter. TD Asset Management Inc now owns 5,852,648 shares of the mining company’s stock worth $382,720,000 after purchasing an additional 546,542 shares in the last quarter. Finally, Progeny 3 Inc. purchased a new stake in Agnico Eagle Mines during the 2nd quarter worth about $18,151,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Jefferies Financial Group increased 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 report on Friday, October 4th. TD Securities lifted their price objective on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. UBS Group initiated coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 target price on the stock. Finally, Scotiabank lifted their price target 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. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.78.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $83.54 on Thursday. The company has a fifty day moving average of $82.70 and a two-hundred day moving average of $76.30. The company has a market capitalization of $41.94 billion, a PE ratio of 41.77, a P/E/G ratio of 0.70 and a beta of 1.09. Agnico Eagle Mines Limited has a 1 year low of $44.37 and a 1 year high of $89.00. 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 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.