National Bank of Canada FI Purchases 285,565 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

National Bank of Canada FI grew its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 7.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,155,349 shares of the mining company’s stock after purchasing an additional 285,565 shares during the period. National Bank of Canada FI owned approximately 0.83% of Agnico Eagle Mines worth $334,749,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Bridgewater Associates LP grew its stake in shares of Agnico Eagle Mines by 123.2% during the 3rd quarter. Bridgewater Associates LP now owns 204,168 shares of the mining company’s stock worth $16,448,000 after acquiring an additional 112,712 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Agnico Eagle Mines by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,136,854 shares of the mining company’s stock worth $91,681,000 after purchasing an additional 32,991 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in Agnico Eagle Mines in the second quarter valued at $2,595,000. Caisse DE Depot ET Placement DU Quebec increased its stake in Agnico Eagle Mines by 14.8% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 225,965 shares of the mining company’s stock valued at $18,223,000 after buying an additional 29,106 shares during the last quarter. Finally, Mirabella Financial Services LLP bought a new stake in Agnico Eagle Mines during the 3rd quarter worth about $655,000. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Stock Down 1.7 %

Shares of AEM opened at $83.59 on Friday. The firm has a market cap of $41.97 billion, a P/E ratio of 41.80, a price-to-earnings-growth ratio of 0.67 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75. Agnico Eagle Mines Limited has a 52 week low of $44.37 and a 52 week high of $89.00. The firm’s 50-day simple moving average is $82.93 and its 200 day simple moving average is $77.04.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Jefferies Financial Group upped their target price on Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Scotiabank increased their price objective on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Royal Bank of Canada boosted their target price on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Finally, UBS Group initiated coverage on shares of Agnico Eagle Mines in a research note on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price target for the company. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.