Cheviot Value Management LLC Sells 13,896 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Cheviot Value Management LLC reduced its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 465,022 shares of the mining company’s stock after selling 13,896 shares during the period. Agnico Eagle Mines makes up about 7.1% of Cheviot Value Management LLC’s portfolio, making the stock its 2nd largest position. Cheviot Value Management LLC’s holdings in Agnico Eagle Mines were worth $37,462,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC boosted its position in Agnico Eagle Mines by 43.5% during the third quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock worth $1,213,311,000 after purchasing an additional 4,562,005 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake 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 worth $474,660,000 after buying an additional 817,240 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of 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 buying an additional 767,912 shares during the period. The Manufacturers Life Insurance Company grew its stake in Agnico Eagle Mines by 17.1% in 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 buying an additional 591,178 shares during the last quarter. Finally, TD Asset Management Inc raised its holdings in 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 acquiring an additional 546,542 shares during the period. Institutional investors own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

AEM has been the subject of a number of research analyst reports. Royal Bank of Canada boosted their price objective on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. UBS Group started coverage on Agnico Eagle Mines in a research note on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price target for the company. Scotiabank upped their price objective 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. Finally, Jefferies Financial Group lifted their target price on Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, October 4th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.78.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $83.79 on Monday. The company has a market cap of $42.07 billion, a price-to-earnings ratio of 42.21, a PEG ratio of 0.66 and a beta of 1.09. Agnico Eagle Mines Limited has a fifty-two week low of $44.37 and a fifty-two week high of $89.00. 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 stock has a fifty day moving average price of $82.80 and a 200-day moving average price of $76.57.

Agnico Eagle Mines Profile

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.