Dixon Mitchell Investment Counsel Inc. Buys New Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 1,143 shares of the mining company’s stock, valued at approximately $89,000.

A number of other institutional investors have also modified their holdings of the company. Bridgewater Associates LP boosted its holdings in Agnico Eagle Mines by 123.2% during the 3rd quarter. Bridgewater Associates LP now owns 204,168 shares of the mining company’s stock valued at $16,448,000 after acquiring an additional 112,712 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Agnico Eagle Mines by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,136,854 shares of the mining company’s stock valued at $91,681,000 after purchasing an additional 32,991 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Agnico Eagle Mines by 14.8% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 225,965 shares of the mining company’s stock valued at $18,223,000 after purchasing an additional 29,106 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Agnico Eagle Mines by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,256,714 shares of the mining company’s stock worth $183,491,000 after buying an additional 178,999 shares in the last quarter. Finally, Mirabella Financial Services LLP acquired a new position in shares of Agnico Eagle Mines in the third quarter worth $655,000. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $84.43 on Thursday. The firm’s fifty day simple moving average is $81.70 and its 200-day simple moving average is $80.06. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock has a market cap of $42.38 billion, a PE ratio of 42.22, a price-to-earnings-growth ratio of 0.56 and a beta of 1.08. Agnico Eagle Mines Limited has a fifty-two week low of $44.37 and a fifty-two week high of $89.00.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group increased their price target on Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and an average target price of $89.13.

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.