Eastern Bank Has $211,000 Position in Agnico Eagle Mines Limited (NYSE:AEM)

Eastern Bank lessened its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 20.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,694 shares of the mining company’s stock after selling 695 shares during the period. Eastern Bank’s holdings in Agnico Eagle Mines were worth $211,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. FMR LLC increased its position in Agnico Eagle Mines by 43.5% during the 3rd 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. raised its stake in Agnico Eagle Mines by 16.1% during the third 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 during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Agnico Eagle Mines by 262.5% in the third 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 period. The Manufacturers Life Insurance Company boosted its position in Agnico Eagle Mines by 17.1% during the third quarter. The Manufacturers Life Insurance Company now owns 4,051,140 shares of the mining company’s stock valued at $326,571,000 after acquiring an additional 591,178 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in Agnico Eagle Mines by 7.4% during the 3rd 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 period. Institutional investors and hedge funds own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AEM. UBS Group initiated coverage on Agnico Eagle Mines in a research report on Tuesday, September 17th. They set a “buy” rating and a $95.00 target price on the stock. Jefferies Financial Group increased their price target on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.13.

Agnico Eagle Mines Stock Up 1.9 %

Agnico Eagle Mines stock opened at $83.95 on Wednesday. The firm has a market capitalization of $42.13 billion, a price-to-earnings ratio of 41.98, a price-to-earnings-growth ratio of 0.68 and a beta of 1.08. The firm’s fifty day moving average price is $81.72 and its two-hundred day moving average price is $79.90. Agnico Eagle Mines Limited has a 1-year low of $44.37 and a 1-year 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.

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.