Ninety One UK Ltd Sells 846,614 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Ninety One UK Ltd cut its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 50.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 833,245 shares of the mining company’s stock after selling 846,614 shares during the period. Ninety One UK Ltd’s holdings in Agnico Eagle Mines were worth $65,160,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AEM. Versant Capital Management Inc bought a new stake in shares of Agnico Eagle Mines during the fourth quarter worth $26,000. Decker Retirement Planning Inc. acquired a new position in Agnico Eagle Mines during the 4th quarter worth about $29,000. FSC Wealth Advisors LLC bought a new stake in Agnico Eagle Mines during the 3rd quarter worth about $32,000. Fifth Third Bancorp increased its position in Agnico Eagle Mines by 176.9% in the 4th quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock valued at $32,000 after acquiring an additional 260 shares in the last quarter. Finally, McClarren Financial Advisors Inc. raised its stake in shares of Agnico Eagle Mines by 684.6% in the third quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock worth $41,000 after acquiring an additional 445 shares during the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on AEM. Scotiabank increased their price target on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. Jefferies Financial Group lifted their target price on Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $90.50.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $95.62 on Wednesday. The firm has a fifty day moving average of $84.18 and a two-hundred day moving average of $81.91. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75. The stock has a market capitalization of $48.03 billion, a price-to-earnings ratio of 47.81, a PEG ratio of 0.62 and a beta of 1.10. Agnico Eagle Mines Limited has a 52 week low of $44.37 and a 52 week high of $97.01.

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.