Caldwell Investment Management Ltd. Sells 4,800 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Caldwell Investment Management Ltd. lowered its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 5.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 78,300 shares of the mining company’s stock after selling 4,800 shares during the period. Agnico Eagle Mines makes up approximately 4.5% of Caldwell Investment Management Ltd.’s portfolio, making the stock its 6th largest position. Caldwell Investment Management Ltd.’s holdings in Agnico Eagle Mines were worth $6,406,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. TD Asset Management Inc boosted its stake in Agnico Eagle Mines by 10.3% during the second quarter. TD Asset Management Inc now owns 5,852,648 shares of the mining company’s stock worth $382,720,000 after buying an additional 546,542 shares during the period. Progeny 3 Inc. purchased a new position in shares of Agnico Eagle Mines during the 2nd quarter worth approximately $18,151,000. Canada Pension Plan Investment Board boosted its position in shares of Agnico Eagle Mines by 14.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,966,837 shares of the mining company’s stock worth $128,617,000 after purchasing an additional 252,300 shares during the period. CIBC Asset Management Inc increased its holdings in Agnico Eagle Mines by 4.1% in 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 last quarter. Finally, Cadinha & Co. LLC raised its position in Agnico Eagle Mines by 1,178.2% in the third quarter. Cadinha & Co. LLC now owns 232,318 shares of the mining company’s stock valued at $18,716,000 after purchasing an additional 214,143 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Up 4.2 %

Shares of NYSE:AEM opened at $80.01 on Tuesday. The company has a market cap of $40.17 billion, a PE ratio of 40.01, a P/E/G ratio of 0.67 and a beta of 1.09. The company’s 50 day moving average is $82.47 and its two-hundred day moving average is $75.60. Agnico Eagle Mines Limited has a 52 week low of $44.37 and a 52 week 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.

Analyst Upgrades and Downgrades

AEM has been the subject of several research analyst reports. Royal Bank of Canada raised their price target on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. UBS Group began coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They set a “buy” rating and a $95.00 target price for the company. Scotiabank boosted their price target on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. TD Securities raised their price objective 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. 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 report 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.78.

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.