Confluence Investment Management LLC Purchases 709 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Confluence Investment Management LLC lifted its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 3.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 20,057 shares of the mining company’s stock after buying an additional 709 shares during the period. Confluence Investment Management LLC’s holdings in Agnico Eagle Mines were worth $1,616,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AEM. TD Asset Management Inc grew its position in shares of Agnico Eagle Mines by 24.1% during the 1st quarter. TD Asset Management Inc now owns 5,306,106 shares of the mining company’s stock worth $316,700,000 after buying an additional 1,031,142 shares during the period. National Bank of Canada FI grew its holdings in Agnico Eagle Mines by 27.9% in the first quarter. National Bank of Canada FI now owns 4,007,554 shares of the mining company’s stock worth $239,051,000 after purchasing an additional 874,920 shares during the period. First Eagle Investment Management LLC increased its stake in Agnico Eagle Mines by 10.8% in the first quarter. First Eagle Investment Management LLC now owns 6,891,385 shares of the mining company’s stock valued at $411,106,000 after purchasing an additional 672,503 shares in the last quarter. Progeny 3 Inc. bought a new position in shares of Agnico Eagle Mines during the 2nd quarter worth about $18,151,000. Finally, Canada Pension Plan Investment Board increased its position in Agnico Eagle Mines by 14.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,966,837 shares of the mining company’s stock valued at $128,617,000 after buying an additional 252,300 shares in the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AEM. Scotiabank increased 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. TD Securities boosted their price target on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Royal Bank of Canada raised their price objective on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. UBS Group began coverage on shares of Agnico Eagle Mines in a research report on Tuesday, September 17th. They set a “buy” rating and a $95.00 target price for the company. Finally, Jefferies Financial Group lifted their price target on 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 equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $86.78.

Agnico Eagle Mines Stock Down 2.0 %

Shares of NYSE:AEM opened at $83.84 on Friday. The company has a market capitalization of $42.07 billion, a PE ratio of 41.92, a price-to-earnings-growth ratio of 0.74 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. The business has a fifty day moving average price of $82.60 and a two-hundred day moving average price of $74.90.

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.