Agnico Eagle Mines Limited (NYSE:AEM) Shares Sold by PCJ Investment Counsel Ltd.

PCJ Investment Counsel Ltd. lessened its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 9.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,410 shares of the mining company’s stock after selling 3,250 shares during the period. PCJ Investment Counsel Ltd.’s holdings in Agnico Eagle Mines were worth $2,530,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Sapient Capital LLC raised its holdings in Agnico Eagle Mines by 1.3% in the 3rd quarter. Sapient Capital LLC now owns 11,001 shares of the mining company’s stock valued at $886,000 after acquiring an additional 145 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in Agnico Eagle Mines by 2.2% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 7,217 shares of the mining company’s stock valued at $472,000 after acquiring an additional 158 shares during the last quarter. Azzad Asset Management Inc. ADV raised its holdings in Agnico Eagle Mines by 0.3% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 61,820 shares of the mining company’s stock valued at $4,043,000 after acquiring an additional 189 shares during the last quarter. Lombard Odier Asset Management Europe Ltd raised its holdings in Agnico Eagle Mines by 0.4% in the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 49,651 shares of the mining company’s stock valued at $3,248,000 after acquiring an additional 190 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft raised its holdings in Agnico Eagle Mines by 4.8% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 4,192 shares of the mining company’s stock valued at $269,000 after acquiring an additional 192 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $82.48 on Wednesday. Agnico Eagle Mines Limited has a 1-year low of $44.37 and a 1-year high of $89.00. The firm has a 50 day simple moving average of $82.55 and a 200-day simple moving average of $75.73. The firm has a market cap of $41.41 billion, a PE ratio of 41.24, a P/E/G ratio of 0.67 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 0.83.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Scotiabank increased their price target 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. TD Securities increased their price target on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. UBS Group initiated coverage on shares of Agnico Eagle Mines in a research report on Tuesday, September 17th. They set a “buy” rating and a $95.00 price objective for the company. 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 report on Friday, October 4th. Finally, Royal Bank of Canada increased their price objective on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.78.

Agnico Eagle Mines 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.