Agnico Eagle Mines Limited (NYSE:AEM) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 16.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,892,898 shares of the mining company’s stock after purchasing an additional 817,240 shares during the quarter. Agnico Eagle Mines comprises 2.3% of Connor Clark & Lunn Investment Management Ltd.’s holdings, making the stock its 5th biggest position. Connor Clark & Lunn Investment Management Ltd.’s holdings in Agnico Eagle Mines were worth $474,660,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp boosted its stake in Agnico Eagle Mines by 0.3% during 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 in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of 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 period. Capital World Investors lifted its position in Agnico Eagle Mines by 0.8% in the 1st quarter. Capital World Investors now owns 9,769,275 shares of the mining company’s stock worth $582,529,000 after buying an additional 79,275 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of 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 worth $397,657,000 after acquiring an additional 237,347 shares in the last quarter. Finally, TD Asset Management Inc lifted its holdings in shares of Agnico Eagle Mines by 10.3% during the 2nd quarter. TD Asset Management Inc now owns 5,852,648 shares of the mining company’s stock valued at $382,720,000 after buying an additional 546,542 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Up 3.1 %

AEM opened at $82.48 on Wednesday. The firm’s fifty day moving average is $82.55 and its two-hundred day moving average is $75.73. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75. The firm has a market cap of $41.41 billion, a PE ratio of 41.24, a price-to-earnings-growth ratio of 0.67 and a beta of 1.09. Agnico Eagle Mines Limited has a twelve month low of $44.37 and a twelve month high of $89.00.

Analyst Ratings Changes

A number of brokerages recently issued reports on AEM. Scotiabank upped their price objective on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a 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 report on Friday, August 2nd. UBS Group assumed coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 target price for the company. Royal Bank of Canada increased 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. Finally, Jefferies Financial Group boosted 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. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.