Jennison Associates LLC Has $47.83 Million Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

Jennison Associates LLC raised its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 611,530 shares of the mining company’s stock after buying an additional 28,592 shares during the quarter. Jennison Associates LLC owned about 0.12% of Agnico Eagle Mines worth $47,828,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of AEM. AQR Capital Management LLC raised its stake in Agnico Eagle Mines by 23.3% during the 2nd quarter. AQR Capital Management LLC now owns 13,017 shares of the mining company’s stock valued at $851,000 after purchasing an additional 2,464 shares during the last quarter. Truist Financial Corp lifted its stake in shares of Agnico Eagle Mines by 10.4% in the second quarter. Truist Financial Corp now owns 45,315 shares of the mining company’s stock valued at $2,964,000 after buying an additional 4,276 shares during the period. Sanctuary Advisors LLC acquired a new stake in Agnico Eagle Mines during the second quarter worth about $678,000. Diversified Trust Co bought a new position in Agnico Eagle Mines during the third quarter valued at about $235,000. Finally, Miracle Mile Advisors LLC bought a new position in Agnico Eagle Mines during the third quarter valued at about $236,000. 68.34% of the stock is owned by institutional investors.

Agnico Eagle Mines Trading Up 0.8 %

Shares of Agnico Eagle Mines stock opened at $95.62 on Wednesday. The stock has a market capitalization of $48.03 billion, a P/E ratio of 47.81, a price-to-earnings-growth ratio of 0.62 and a beta of 1.10. Agnico Eagle Mines Limited has a 12-month low of $44.37 and a 12-month high of $97.01. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The company has a 50-day simple moving average of $84.18 and a 200 day simple moving average of $81.91.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AEM. Scotiabank boosted their price objective on Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 21st. Jefferies Financial Group boosted their price target on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a report on Tuesday, January 7th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $90.50.

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.