Agnico Eagle Mines Limited (NYSE:AEM) Shares Sold by Canoe Financial LP

Canoe Financial LP lowered its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 1.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,971,652 shares of the mining company’s stock after selling 21,364 shares during the quarter. Agnico Eagle Mines comprises 2.2% of Canoe Financial LP’s investment portfolio, making the stock its 12th biggest holding. Canoe Financial LP’s holdings in Agnico Eagle Mines were worth $154,148,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc purchased a new position in shares of Agnico Eagle Mines during the fourth quarter worth approximately $26,000. Decker Retirement Planning Inc. purchased a new position in Agnico Eagle Mines during the 4th quarter worth $29,000. Abich Financial Wealth Management LLC acquired a new position in Agnico Eagle Mines in the second quarter valued at $32,000. FSC Wealth Advisors LLC purchased a new stake in shares of Agnico Eagle Mines in the third quarter valued at about $32,000. Finally, McClarren Financial Advisors Inc. boosted its stake in shares of Agnico Eagle Mines by 684.6% during the third quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock worth $41,000 after buying an additional 445 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Up 1.1 %

Shares of Agnico Eagle Mines stock opened at $85.12 on Friday. Agnico Eagle Mines Limited has a 52-week low of $44.37 and a 52-week high of $89.00. The company’s 50-day simple moving average is $81.70 and its 200-day simple moving average is $80.22. The firm has a market cap of $42.72 billion, a price-to-earnings ratio of 42.56, a price-to-earnings-growth ratio of 0.56 and a beta of 1.08. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group boosted their price target on Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Tuesday, January 7th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and an average price target of $89.13.

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.