Jennison Associates LLC Has $46.96 Million Position in Agnico Eagle Mines Limited (NYSE:AEM)

Jennison Associates LLC decreased its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 9.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 582,938 shares of the mining company’s stock after selling 61,106 shares during the quarter. Jennison Associates LLC owned approximately 0.12% of Agnico Eagle Mines worth $46,962,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Continuum Advisory LLC lifted its holdings in Agnico Eagle Mines by 1,134.4% in the second quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock valued at $26,000 after buying an additional 363 shares during the period. FSC Wealth Advisors LLC acquired a new position in shares of Agnico Eagle Mines in the 3rd quarter valued at $32,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Agnico Eagle Mines during the second quarter worth $32,000. McClarren Financial Advisors Inc. lifted its stake in Agnico Eagle Mines by 684.6% in the third quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock valued at $41,000 after buying an additional 445 shares during the period. Finally, WASHINGTON TRUST Co grew its position in shares of Agnico Eagle Mines by 92.1% during the 2nd quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock worth $48,000 after buying an additional 350 shares during the period. 68.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AEM has been the topic of several analyst reports. TD Securities increased their target price on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Royal Bank of Canada increased their price objective 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. Jefferies Financial Group boosted their price objective on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, October 4th. UBS Group initiated coverage on shares of Agnico Eagle Mines in a research note on Tuesday, September 17th. They issued a “buy” rating and a $95.00 target price for the company. Finally, Scotiabank boosted their price target on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $86.78.

Agnico Eagle Mines Stock Up 0.9 %

NYSE:AEM opened at $83.57 on Friday. Agnico Eagle Mines Limited has a twelve month low of $44.37 and a twelve month high of $89.00. The firm has a market capitalization of $41.96 billion, a price-to-earnings ratio of 41.79, a price-to-earnings-growth ratio of 0.72 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock’s 50 day moving average price is $82.65 and its two-hundred day moving average price is $75.83.

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.