Confluence Investment Management LLC Grows Position in Agnico Eagle Mines Limited (NYSE:AEM)

Confluence Investment Management LLC increased its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 1.8% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 20,408 shares of the mining company’s stock after buying an additional 351 shares during the quarter. Confluence Investment Management LLC’s holdings in Agnico Eagle Mines were worth $1,596,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of AEM. FMR LLC grew its stake in shares of Agnico Eagle Mines by 43.5% in the third quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock worth $1,213,311,000 after acquiring an additional 4,562,005 shares during the period. Massachusetts Financial Services Co. MA grew its position 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 worth $868,638,000 after purchasing an additional 134,872 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Agnico Eagle Mines by 16.1% during 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 buying an additional 817,240 shares during the period. TD Asset Management Inc boosted its stake in shares of Agnico Eagle Mines by 10.3% in the 2nd 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 last quarter. Finally, National Bank of Canada FI boosted its stake in shares of Agnico Eagle Mines by 7.4% in 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 buying an additional 285,565 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analysts Set New Price Targets

AEM has been the topic of a number of recent research reports. Royal Bank of Canada increased their target price on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Jefferies Financial Group increased their price objective on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Finally, UBS Group assumed coverage on shares of Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and a consensus target price of $86.78.

Agnico Eagle Mines Price Performance

NYSE AEM opened at $81.99 on Friday. 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 Limited has a 12 month low of $44.37 and a 12 month high of $89.00. The stock has a market cap of $41.15 billion, a price-to-earnings ratio of 41.00, a PEG ratio of 0.68 and a beta of 1.07. The company’s 50 day moving average is $82.39 and its two-hundred day moving average is $78.87.

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.