MML Investors Services LLC Invests $252,000 in Agnico Eagle Mines Limited (NYSE:AEM)

MML Investors Services LLC acquired a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,130 shares of the mining company’s stock, valued at approximately $252,000.

Several other hedge funds have also added to or reduced their stakes in the business. FMR LLC raised its stake in shares of Agnico Eagle Mines by 43.5% during the third quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock valued at $1,213,311,000 after acquiring an additional 4,562,005 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Agnico Eagle Mines by 16.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,892,898 shares of the mining company’s stock valued at $474,660,000 after purchasing an additional 817,240 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Agnico Eagle Mines by 262.5% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,060,402 shares of the mining company’s stock worth $85,413,000 after purchasing an additional 767,912 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Agnico Eagle Mines by 17.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,051,140 shares of the mining company’s stock worth $326,571,000 after buying an additional 591,178 shares during the period. Finally, TD Asset Management Inc grew its position in shares of Agnico Eagle Mines by 10.3% in the 2nd quarter. TD Asset Management Inc now owns 5,852,648 shares of the mining company’s stock valued at $382,720,000 after buying an additional 546,542 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $78.73 on Thursday. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06. The firm’s 50-day moving average price is $83.30 and its 200-day moving average price is $78.37. The firm has a market capitalization of $39.51 billion, a P/E ratio of 39.37, a P/E/G ratio of 0.68 and a beta of 1.07. Agnico Eagle Mines Limited has a 1-year low of $44.37 and a 1-year high of $89.00.

Analysts Set New Price Targets

AEM has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their price objective on Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. 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, UBS Group began coverage on shares of Agnico Eagle Mines in a research report on Tuesday, September 17th. They set a “buy” rating and a $95.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.78.

About Agnico Eagle Mines

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.