BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 767,912 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 262.5% in the third quarter, HoldingsChannel reports. The firm owned 1,060,402 shares of the mining company’s stock after buying an additional 767,912 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Agnico Eagle Mines were worth $85,413,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in 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 last quarter. Abich Financial Wealth Management LLC acquired a new position in Agnico Eagle Mines in the second quarter valued at about $32,000. FSC Wealth Advisors LLC bought a new stake in Agnico Eagle Mines during the third quarter worth $32,000. McClarren Financial Advisors Inc. grew its position in Agnico Eagle Mines by 684.6% in the third quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock valued at $41,000 after acquiring an additional 445 shares during the last quarter. Finally, WASHINGTON TRUST Co raised its stake in Agnico Eagle Mines by 92.1% during the second quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock worth $48,000 after acquiring an additional 350 shares in the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on AEM shares. Scotiabank increased their price target on 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. UBS Group assumed coverage on Agnico Eagle Mines in a research report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price target on the stock. Royal Bank of Canada lifted their target price on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Jefferies Financial Group raised their target price 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. Finally, TD Securities boosted their price objective on Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and an average target price of $86.78.

Agnico Eagle Mines Stock Performance

AEM stock opened at $84.50 on Friday. The business has a 50 day moving average of $82.78 and a 200-day moving average of $76.40. The firm has a market cap of $42.42 billion, a PE ratio of 42.25, a P/E/G ratio of 0.65 and a beta of 1.09. Agnico Eagle Mines Limited has a 12-month low of $44.37 and a 12-month high of $89.00. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06.

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.