Compound Global Advisors LLC Purchases New Shares in Agnico Eagle Mines Limited (NYSE:AEM)

Compound Global Advisors LLC bought a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 10,000 shares of the mining company’s stock, valued at approximately $782,000. Agnico Eagle Mines makes up approximately 3.2% of Compound Global Advisors LLC’s portfolio, making the stock its 9th biggest position.

Other institutional investors have also recently modified their holdings of the company. FMR LLC lifted its position in shares of Agnico Eagle Mines by 43.5% in 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Agnico Eagle Mines by 16.1% in the 3rd 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 last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Agnico Eagle Mines by 262.5% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,060,402 shares of the mining company’s stock valued at $85,413,000 after purchasing an additional 767,912 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake 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 purchasing an additional 591,178 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in shares of Agnico Eagle Mines by 7.4% during the third quarter. National Bank of Canada FI now owns 4,155,349 shares of the mining company’s stock worth $334,749,000 after buying an additional 285,565 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AEM shares. Scotiabank raised their price target on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 21st. Jefferies Financial Group upped 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 equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.50.

Agnico Eagle Mines Trading Up 2.1 %

AEM opened at $100.46 on Tuesday. The stock has a market capitalization of $50.46 billion, a PE ratio of 50.23, a P/E/G ratio of 0.66 and a beta of 1.10. Agnico Eagle Mines Limited has a one year low of $44.37 and a one year high of $101.45. 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 business’s 50 day moving average price is $85.42 and its 200 day moving average price is $82.60.

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.