Jennison Associates LLC Has $46.96 Million Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Jennison Associates LLC trimmed its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 9.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 582,938 shares of the mining company’s stock after selling 61,106 shares during the period. Jennison Associates LLC’s holdings in Agnico Eagle Mines were worth $46,962,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AEM. TD Asset Management Inc boosted its position in shares of Agnico Eagle Mines by 10.3% during the 2nd quarter. TD Asset Management Inc now owns 5,852,648 shares of the mining company’s stock worth $382,720,000 after acquiring an additional 546,542 shares in the last quarter. Progeny 3 Inc. bought a new position in shares of Agnico Eagle Mines in the 2nd quarter valued at $18,151,000. Canada Pension Plan Investment Board raised its holdings in shares of Agnico Eagle Mines by 14.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,966,837 shares of the mining company’s stock worth $128,617,000 after buying an additional 252,300 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Agnico Eagle Mines by 4.1% during the 2nd quarter. CIBC Asset Management Inc now owns 6,083,606 shares of the mining company’s stock worth $397,657,000 after buying an additional 237,347 shares during the last quarter. Finally, Cadinha & Co. LLC boosted its stake in Agnico Eagle Mines by 1,178.2% in the third quarter. Cadinha & Co. LLC now owns 232,318 shares of the mining company’s stock valued at $18,716,000 after buying an additional 214,143 shares in the last quarter. 68.34% of the stock is owned by institutional investors.

Agnico Eagle Mines Trading Up 0.9 %

AEM opened at $83.57 on Friday. The company has a fifty day moving average price of $82.65 and a two-hundred day moving average price of $75.83. Agnico Eagle Mines Limited has a 1-year low of $44.37 and a 1-year high of $89.00. The company has a market cap of $41.96 billion, a P/E ratio of 41.79, a price-to-earnings-growth ratio of 0.72 and a beta of 1.09. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06.

Analyst Ratings Changes

AEM has been the subject of several research analyst reports. UBS Group initiated coverage on Agnico Eagle Mines in a research note on Tuesday, September 17th. They set a “buy” rating and a $95.00 target price for the company. Jefferies Financial Group lifted their price target on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, October 4th. TD Securities lifted 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. Royal Bank of Canada boosted their price target on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Finally, Scotiabank increased their price objective on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. 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 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.