Jennison Associates LLC Has $47.83 Million Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Jennison Associates LLC increased its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 611,530 shares of the mining company’s stock after buying an additional 28,592 shares during the period. Jennison Associates LLC’s holdings in Agnico Eagle Mines were worth $47,828,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AEM. Versant Capital Management Inc acquired a new position in shares of Agnico Eagle Mines during the fourth quarter worth approximately $26,000. Decker Retirement Planning Inc. acquired a new position in Agnico Eagle Mines during the 4th quarter worth $29,000. FSC Wealth Advisors LLC bought a new position in Agnico Eagle Mines in the 3rd quarter valued at $32,000. Fifth Third Bancorp increased its stake in shares of Agnico Eagle Mines by 176.9% in the 4th quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock valued at $32,000 after buying an additional 260 shares during the period. Finally, McClarren Financial Advisors Inc. raised its position in shares of Agnico Eagle Mines by 684.6% during the third quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock worth $41,000 after acquiring an additional 445 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

Analysts Set New Price Targets

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

Agnico Eagle Mines Trading Up 0.8 %

AEM opened at $95.62 on Wednesday. The firm’s fifty day moving average is $84.18 and its two-hundred day moving average is $81.91. The firm has a market cap of $48.03 billion, a PE ratio of 47.81, a price-to-earnings-growth ratio of 0.62 and a beta of 1.10. Agnico Eagle Mines Limited has a twelve month low of $44.37 and a twelve month high of $97.01. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75.

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.