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

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 16.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,892,898 shares of the mining company’s stock after purchasing an additional 817,240 shares during the period. Agnico Eagle Mines makes up 2.3% of Connor Clark & Lunn Investment Management Ltd.’s investment portfolio, making the stock its 5th largest holding. Connor Clark & Lunn Investment Management Ltd. owned about 1.17% of Agnico Eagle Mines worth $474,660,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of AEM. Continuum Advisory LLC increased its holdings in shares of Agnico Eagle Mines by 1,134.4% in the second quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock valued at $26,000 after purchasing an additional 363 shares during the period. Abich Financial Wealth Management LLC acquired a new stake in Agnico Eagle Mines in the second quarter valued at about $32,000. FSC Wealth Advisors LLC purchased a new stake in Agnico Eagle Mines in the 3rd quarter valued at approximately $32,000. McClarren Financial Advisors Inc. increased its position in Agnico Eagle Mines by 684.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock worth $41,000 after purchasing an additional 445 shares during the period. Finally, WASHINGTON TRUST Co raised its stake in shares of Agnico Eagle Mines by 92.1% during the 2nd quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock worth $48,000 after buying an additional 350 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AEM. Royal Bank of Canada increased their target price on shares of 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 lifted their price objective on Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, October 4th. 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 on the stock. TD Securities lifted their price target on Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Scotiabank increased their price objective 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. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.78.

Agnico Eagle Mines Stock Up 3.1 %

Shares of 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 company’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 stock has a market capitalization of $41.41 billion, a price-to-earnings ratio of 41.24, a price-to-earnings-growth ratio of 0.67 and a beta of 1.09.

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.