Wellington Management Group LLP Has $24.23 Million Position in Agnico Eagle Mines Limited (NYSE:AEM)

Wellington Management Group LLP reduced its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 31.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 300,653 shares of the mining company’s stock after selling 135,554 shares during the period. Wellington Management Group LLP’s holdings in Agnico Eagle Mines were worth $24,227,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Cetera Advisors LLC acquired a new position in Agnico Eagle Mines in the first quarter valued at about $293,000. Dynamic Advisor Solutions LLC acquired a new position in Agnico Eagle Mines in the second quarter valued at about $221,000. Sequoia Financial Advisors LLC acquired a new position in Agnico Eagle Mines in the second quarter valued at about $223,000. ORG Partners LLC acquired a new position in Agnico Eagle Mines in the second quarter valued at about $52,000. Finally, Assenagon Asset Management S.A. boosted its position in Agnico Eagle Mines by 4.8% in the second quarter. Assenagon Asset Management S.A. now owns 14,828 shares of the mining company’s stock valued at $970,000 after buying an additional 682 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Trading Down 1.7 %

AEM opened at $83.72 on Friday. 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 $42.02 billion, a price-to-earnings ratio of 41.86, a price-to-earnings-growth ratio of 0.68 and a beta of 1.07. The firm has a 50 day simple moving average of $83.38 and a 200 day simple moving average of $77.63. Agnico Eagle Mines Limited has a fifty-two week low of $44.37 and a fifty-two week high of $89.00.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AEM shares. Scotiabank boosted their target price on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. UBS Group started coverage on shares of Agnico Eagle Mines in a research note on Tuesday, September 17th. They issued a “buy” rating and a $95.00 target price for the company. Jefferies Financial Group boosted their target price on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Finally, Royal Bank of Canada boosted 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. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and an average price target of $86.78.

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.