D.A. Davidson & CO. Boosts Stake in Agnico Eagle Mines Limited (NYSE:AEM)

D.A. Davidson & CO. raised its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 7.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,236 shares of the mining company’s stock after buying an additional 831 shares during the period. D.A. Davidson & CO.’s holdings in Agnico Eagle Mines were worth $986,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Van ECK Associates Corp lifted its stake in shares of Agnico Eagle Mines by 0.3% during the 2nd quarter. Van ECK Associates Corp now owns 22,320,085 shares of the mining company’s stock worth $1,459,741,000 after acquiring an additional 58,681 shares during the last quarter. FMR LLC lifted its position in shares of Agnico Eagle Mines by 43.5% during the third quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock worth $1,213,311,000 after purchasing an additional 4,562,005 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Agnico Eagle Mines by 1.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 13,281,926 shares of the mining company’s stock valued at $868,638,000 after purchasing an additional 134,872 shares during the period. CIBC Asset Management Inc grew its holdings in shares of Agnico Eagle Mines by 4.1% in the second quarter. CIBC Asset Management Inc now owns 6,083,606 shares of the mining company’s stock worth $397,657,000 after purchasing an additional 237,347 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Agnico Eagle Mines by 16.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,892,898 shares of the mining company’s stock worth $474,660,000 after buying an additional 817,240 shares during the period. Institutional investors own 68.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Royal Bank of Canada upped their target price on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Scotiabank raised their price objective on Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. UBS Group began coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 target price for the company. Finally, Jefferies Financial Group raised their price target on Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, October 4th. One 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 has an average rating of “Moderate Buy” and a consensus target price of $86.78.

Agnico Eagle Mines Price Performance

Shares of AEM stock opened at $84.42 on Monday. The stock’s 50-day moving average is $82.80 and its 200 day moving average is $76.57. Agnico Eagle Mines Limited has a 1-year low of $44.37 and a 1-year high of $89.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 0.83. The company has a market cap of $42.38 billion, a P/E ratio of 42.21, a PEG ratio of 0.66 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.