Violich Capital Management Inc. Boosts Position in Agnico Eagle Mines Limited (NYSE:AEM)

Violich Capital Management Inc. boosted its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 4.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 35,217 shares of the mining company’s stock after purchasing an additional 1,500 shares during the quarter. Violich Capital Management Inc.’s holdings in Agnico Eagle Mines were worth $2,754,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. FMR LLC raised its position in Agnico Eagle Mines by 43.5% during the 3rd quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock worth $1,213,311,000 after buying an additional 4,562,005 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Agnico Eagle Mines by 16.1% during 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 in the last quarter. National Bank of Canada FI increased its holdings in shares of Agnico Eagle Mines by 7.4% during the 3rd quarter. National Bank of Canada FI now owns 4,155,349 shares of the mining company’s stock valued at $334,749,000 after purchasing an additional 285,565 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of 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 valued at $326,571,000 after purchasing an additional 591,178 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Agnico Eagle Mines by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,256,714 shares of the mining company’s stock valued at $183,491,000 after purchasing an additional 178,999 shares in the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Trading Up 2.1 %

Shares of AEM stock opened at $100.46 on Tuesday. The company’s 50-day moving average price is $85.42 and its 200-day moving average price is $82.60. 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 stock has a market cap of $50.46 billion, a price-to-earnings ratio of 50.23, a PEG ratio of 0.66 and a beta of 1.10. Agnico Eagle Mines Limited has a twelve month low of $44.37 and a twelve month high of $101.45.

Wall Street Analysts Forecast Growth

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

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.