Empowered Funds LLC Increases Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Empowered Funds LLC boosted its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 65.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,788 shares of the mining company’s stock after acquiring an additional 28,324 shares during the quarter. Empowered Funds LLC’s holdings in Agnico Eagle Mines were worth $5,615,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. FMR LLC boosted 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 valued at $1,213,311,000 after purchasing an additional 4,562,005 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings 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 buying an additional 817,240 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Agnico Eagle Mines by 262.5% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,060,402 shares of the mining company’s stock valued at $85,413,000 after buying an additional 767,912 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in 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 valued at $326,571,000 after buying an additional 591,178 shares during the last quarter. Finally, National Bank of Canada FI increased its position in shares of Agnico Eagle Mines by 7.4% during the third quarter. National Bank of Canada FI now owns 4,155,349 shares of the mining company’s stock worth $334,749,000 after acquiring an additional 285,565 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AEM shares. Jefferies Financial Group raised their price objective on Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Tuesday, January 7th. Royal Bank of Canada increased their target price on Agnico Eagle Mines from $96.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Scotiabank lifted their price target on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $92.75.

Agnico Eagle Mines Stock Performance

AEM stock opened at $98.42 on Wednesday. The stock’s 50 day simple moving average is $85.67 and its 200 day simple moving average is $82.78. Agnico Eagle Mines Limited has a 12-month low of $44.37 and a 12-month high of $101.45. The firm has a market cap of $49.43 billion, a P/E ratio of 49.21, a P/E/G ratio of 0.66 and a beta of 1.10. 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 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.