Agnico Eagle Mines Limited $AEM Shares Bought by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co increased its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 8.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 157,552 shares of the mining company’s stock after acquiring an additional 12,300 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Agnico Eagle Mines were worth $26,542,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AEM. True Wealth Design LLC increased its stake in Agnico Eagle Mines by 381.3% during the third quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock worth $26,000 after acquiring an additional 122 shares during the last quarter. Blue Bell Private Wealth Management LLC lifted its position in shares of Agnico Eagle Mines by 59.7% during the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock worth $33,000 after purchasing an additional 74 shares in the last quarter. MCF Advisors LLC purchased a new stake in shares of Agnico Eagle Mines during the third quarter worth about $34,000. Ameritas Advisory Services LLC acquired a new stake in Agnico Eagle Mines in the second quarter valued at $25,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in Agnico Eagle Mines during the second quarter valued at approximately $29,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Zacks Research lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Royal Bank Of Canada lowered Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $185.00 to $205.00 in a report on Wednesday, December 10th. Scotiabank lifted their price objective on shares of Agnico Eagle Mines from $219.00 to $276.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Weiss Ratings downgraded shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a report on Monday, January 12th. Finally, Citigroup raised their target price on shares of Agnico Eagle Mines from $198.00 to $256.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and a consensus target price of $230.64.

Agnico Eagle Mines Stock Up 2.5%

AEM stock opened at $217.10 on Thursday. The firm has a market cap of $108.70 billion, a PE ratio of 31.69, a P/E/G ratio of 0.50 and a beta of 0.63. Agnico Eagle Mines Limited has a 12 month low of $92.11 and a 12 month high of $225.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.12 and a quick ratio of 1.31. The firm has a 50 day simple moving average of $187.89 and a 200 day simple moving average of $166.63.

About Agnico Eagle Mines

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.