Addenda Capital Inc. Acquires 130,890 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Addenda Capital Inc. lifted its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 1,651.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 138,817 shares of the mining company’s stock after acquiring an additional 130,890 shares during the quarter. Addenda Capital Inc.’s holdings in Agnico Eagle Mines were worth $10,857,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AEM. Pinnacle Wealth Management Group Inc. boosted its position in Agnico Eagle Mines by 0.5% during the fourth quarter. Pinnacle Wealth Management Group Inc. now owns 24,407 shares of the mining company’s stock valued at $1,909,000 after buying an additional 125 shares during the period. Diversify Wealth Management LLC increased its position in shares of Agnico Eagle Mines by 2.1% in the fourth quarter. Diversify Wealth Management LLC now owns 6,753 shares of the mining company’s stock valued at $569,000 after acquiring an additional 141 shares during the period. Sapient Capital LLC boosted its holdings in shares of Agnico Eagle Mines by 1.3% during the third quarter. Sapient Capital LLC now owns 11,001 shares of the mining company’s stock worth $886,000 after purchasing an additional 145 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in shares of Agnico Eagle Mines by 34.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the mining company’s stock worth $51,000 after purchasing an additional 165 shares during the last quarter. Finally, Lombard Odier Asset Management Europe Ltd increased its holdings in Agnico Eagle Mines by 0.4% during the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 49,651 shares of the mining company’s stock valued at $3,248,000 after purchasing an additional 190 shares during the period. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $85.12 on Tuesday. The firm has a market cap of $42.75 billion, a P/E ratio of 42.56, a PEG ratio of 0.56 and a beta of 1.08. Agnico Eagle Mines Limited has a twelve month low of $44.37 and a twelve 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. The company has a 50 day moving average of $81.84 and a 200 day moving average of $80.53.

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.