Agnico Eagle Mines Limited (NYSE:AEM) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lessened its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 10.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,291,512 shares of the mining company’s stock after selling 157,309 shares during the quarter. Franklin Resources Inc. owned approximately 0.26% of Agnico Eagle Mines worth $103,766,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp raised its stake in Agnico Eagle Mines by 0.3% in the 2nd quarter. Van ECK Associates Corp now owns 22,320,085 shares of the mining company’s stock valued at $1,459,741,000 after purchasing an additional 58,681 shares during the last quarter. FMR LLC raised its stake in Agnico Eagle Mines by 43.5% in 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 last quarter. Massachusetts Financial Services Co. MA raised its stake in Agnico Eagle Mines by 1.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 13,281,926 shares of the mining company’s stock valued at $868,638,000 after purchasing an additional 134,872 shares during the last quarter. CIBC Asset Management Inc raised its stake 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, Connor Clark & Lunn Investment Management Ltd. raised its stake 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 valued at $474,660,000 after purchasing an additional 817,240 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Down 1.7 %

Shares of NYSE:AEM opened at $83.72 on Monday. 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 1 year low of $44.37 and a 1 year high of $89.00. The stock has a market capitalization of $42.02 billion, a P/E ratio of 41.86, a PEG ratio of 0.68 and a beta of 1.07. The stock has a 50-day simple moving average of $83.38 and a 200-day simple moving average of $77.76.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Scotiabank boosted their target price on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Jefferies Financial Group lifted their price target on Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a report on Friday, October 4th. UBS Group initiated coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price target for the company. Finally, Royal Bank of Canada lifted their price target on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. One 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, the stock presently has an average rating of “Moderate Buy” and an average 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.