Prudential PLC reduced its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 8.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,785,046 shares of the mining company’s stock after selling 260,589 shares during the period. Prudential PLC owned 1.24% of Agnico Eagle Mines Limited worth $116,972,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc increased its stake in Agnico Eagle Mines Limited by 7.8% in the second quarter. IFP Advisors Inc now owns 2,174 shares of the mining company’s stock worth $116,000 after buying an additional 157 shares in the last quarter. Creative Planning increased its stake in Agnico Eagle Mines Limited by 25.3% in the third quarter. Creative Planning now owns 2,974 shares of the mining company’s stock worth $161,000 after buying an additional 600 shares in the last quarter. Horseman Capital Management Ltd purchased a new stake in Agnico Eagle Mines Limited during the second quarter worth about $268,000. Foster Dykema Cabot & Co. Inc. MA purchased a new stake in Agnico Eagle Mines Limited during the third quarter worth about $298,000. Finally, US Bancorp DE increased its stake in Agnico Eagle Mines Limited by 37.6% in the third quarter. US Bancorp DE now owns 5,980 shares of the mining company’s stock worth $324,000 after buying an additional 1,634 shares in the last quarter. 61.30% of the stock is owned by institutional investors and hedge funds.
Agnico Eagle Mines Limited (NYSE:AEM) traded up 1.25% on Friday, hitting $50.83. The stock had a trading volume of 918,657 shares. The company’s 50 day moving average price is $45.84 and its 200 day moving average price is $48.47. Agnico Eagle Mines Limited has a 52-week low of $32.87 and a 52-week high of $60.10. The firm has a market cap of $11.42 billion, a price-to-earnings ratio of 142.78 and a beta of -0.51.
Several equities analysts have recently weighed in on AEM shares. Credit Suisse Group set a $69.00 price target on Agnico Eagle Mines Limited and gave the company a “buy” rating in a research report on Friday, November 25th. BMO Capital Markets set a $46.00 price target on Agnico Eagle Mines Limited and gave the company a “hold” rating in a research report on Thursday, February 2nd. Zacks Investment Research upgraded Agnico Eagle Mines Limited from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 24th. TD Securities reiterated a “hold” rating and issued a $61.00 price target on shares of Agnico Eagle Mines Limited in a research report on Monday, November 21st. Finally, Scotiabank reiterated an “outperform” rating and issued a $68.50 price target on shares of Agnico Eagle Mines Limited in a research report on Thursday, November 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $56.85.
About Agnico Eagle Mines Limited
Agnico Eagle Mines Limited is a gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut and exploration activities in Canada, Europe, Latin America and the United States. The Company operates through three business units. The Northern Business consists of its operations in Canada and Finland.
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