Agnico Eagle Mines Limited (NYSE:AEM) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 17.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,051,140 shares of the mining company’s stock after acquiring an additional 591,178 shares during the period. The Manufacturers Life Insurance Company’s holdings in Agnico Eagle Mines were worth $326,571,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Van ECK Associates Corp lifted its position in Agnico Eagle Mines by 0.3% in the second quarter. Van ECK Associates Corp now owns 22,320,085 shares of the mining company’s stock worth $1,459,741,000 after purchasing an additional 58,681 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Agnico Eagle Mines by 1.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 13,281,926 shares of the mining company’s stock valued at $868,638,000 after buying an additional 134,872 shares during the period. CIBC Asset Management Inc boosted its stake in Agnico Eagle Mines by 4.1% during the second quarter. CIBC Asset Management Inc now owns 6,083,606 shares of the mining company’s stock valued at $397,657,000 after buying an additional 237,347 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings 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 acquiring an additional 817,240 shares during the period. Finally, TD Asset Management Inc grew its holdings 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 acquiring an additional 546,542 shares during the period. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Price Performance

Shares of AEM opened at $81.72 on Tuesday. The business’s 50-day moving average is $82.66 and its 200-day moving average is $76.19. 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 company has a market capitalization of $41.03 billion, a price-to-earnings ratio of 40.86, a P/E/G ratio of 0.73 and a beta of 1.09. Agnico Eagle Mines Limited has a fifty-two week low of $44.37 and a fifty-two week high of $89.00.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AEM shares. Jefferies Financial Group raised 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. Scotiabank lifted 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 report on Monday, August 19th. TD Securities increased their price objective on Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada raised their price objective on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Finally, 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. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $86.78.

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.