Confluence Investment Management LLC Acquires 351 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Confluence Investment Management LLC boosted its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 1.8% in the 4th quarter, HoldingsChannel reports. The firm owned 20,408 shares of the mining company’s stock after purchasing an additional 351 shares during the quarter. Confluence Investment Management LLC’s holdings in Agnico Eagle Mines were worth $1,596,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Sapient Capital LLC increased its holdings in shares of Agnico Eagle Mines by 1.3% in the third quarter. Sapient Capital LLC now owns 11,001 shares of the mining company’s stock worth $886,000 after purchasing an additional 145 shares during the last quarter. Lombard Odier Asset Management Europe Ltd grew its holdings in Agnico Eagle Mines by 0.4% during the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 49,651 shares of the mining company’s stock valued at $3,248,000 after buying an additional 190 shares in the last quarter. Evanson Asset Management LLC increased its stake in Agnico Eagle Mines by 5.2% in the 3rd quarter. Evanson Asset Management LLC now owns 4,023 shares of the mining company’s stock worth $324,000 after acquiring an additional 200 shares during the last quarter. Scheer Rowlett & Associates Investment Management Ltd. raised its holdings in shares of Agnico Eagle Mines by 4.3% during the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 4,805 shares of the mining company’s stock worth $387,000 after acquiring an additional 200 shares in the last quarter. Finally, Raymond James Trust N.A. grew its holdings in shares of Agnico Eagle Mines by 3.8% in the third quarter. Raymond James Trust N.A. now owns 5,579 shares of the mining company’s stock valued at $449,000 after purchasing an additional 203 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock opened at $81.99 on Friday. The firm has a market capitalization of $41.15 billion, a PE ratio of 41.00, a price-to-earnings-growth ratio of 0.68 and a beta of 1.07. Agnico Eagle Mines Limited has a 12-month low of $44.37 and a 12-month high of $89.00. The firm has a 50-day moving average price of $82.39 and a 200-day moving average price of $78.87. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06.

Wall Street Analyst Weigh In

AEM has been the topic of a number of recent research reports. Jefferies Financial Group upped their price target on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, October 4th. UBS Group initiated coverage on shares of Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 target price on the stock. Finally, Royal Bank of Canada increased their price target 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. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.