PCJ Investment Counsel Ltd. Sells 3,250 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

PCJ Investment Counsel Ltd. trimmed its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 9.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,410 shares of the mining company’s stock after selling 3,250 shares during the quarter. PCJ Investment Counsel Ltd.’s holdings in Agnico Eagle Mines were worth $2,530,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of AEM. Manning & Napier Advisors LLC bought a new stake in shares of Agnico Eagle Mines in the 2nd quarter worth approximately $2,595,000. Tidal Investments LLC lifted its position in Agnico Eagle Mines by 87.8% in the 1st quarter. Tidal Investments LLC now owns 20,598 shares of the mining company’s stock valued at $1,195,000 after acquiring an additional 9,628 shares in the last quarter. M&G Plc bought a new position in Agnico Eagle Mines in the 2nd quarter valued at approximately $1,802,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Agnico Eagle Mines in the 2nd quarter valued at approximately $7,084,000. Finally, Gunderson Capital Management Inc. bought a new position in Agnico Eagle Mines in the 3rd quarter valued at approximately $3,583,000. 68.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Scotiabank boosted their target price 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. Jefferies Financial Group upped their price objective on Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Royal Bank of Canada upped their price objective on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. TD Securities upped their price objective 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, UBS Group initiated coverage on Agnico Eagle Mines in a research note on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price objective for the company. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and an average target price of $86.78.

Agnico Eagle Mines Price Performance

Shares of AEM opened at $82.48 on Wednesday. The firm has a market capitalization 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. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 0.83. 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 price is $82.55 and its 200-day moving average price is $75.73.

Agnico Eagle Mines Company 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.