Agnico Eagle Mines Limited (NYSE:AEM) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc cut its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 0.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,050,448 shares of the mining company’s stock after selling 33,158 shares during the quarter. Agnico Eagle Mines accounts for approximately 1.6% of CIBC Asset Management Inc’s holdings, making the stock its 16th biggest position. CIBC Asset Management Inc owned approximately 1.21% of Agnico Eagle Mines worth $488,757,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Black Swift Group LLC purchased a new position in Agnico Eagle Mines during the third quarter worth about $685,000. Metis Global Partners LLC grew its holdings in Agnico Eagle Mines by 16.1% during the third quarter. Metis Global Partners LLC now owns 51,899 shares of the mining company’s stock worth $4,181,000 after acquiring an additional 7,209 shares during the period. Huntington National Bank lifted its holdings in Agnico Eagle Mines by 261.4% in the third quarter. Huntington National Bank now owns 1,424 shares of the mining company’s stock valued at $115,000 after acquiring an additional 1,030 shares during the period. Regal Partners Ltd boosted its position in shares of Agnico Eagle Mines by 36.4% during the 3rd quarter. Regal Partners Ltd now owns 169,448 shares of the mining company’s stock worth $13,651,000 after purchasing an additional 45,262 shares in the last quarter. Finally, Plato Investment Management Ltd purchased a new position in shares of Agnico Eagle Mines in the 3rd quarter valued at about $2,330,000. 68.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Scotiabank lifted their price target on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. TD Securities boosted their price objective on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. UBS Group assumed coverage on shares of Agnico Eagle Mines in a report on Tuesday, September 17th. They set a “buy” rating and a $95.00 target price for the company. Royal Bank of Canada upped their price target on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Finally, Jefferies Financial Group raised their price objective on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $86.78.

Agnico Eagle Mines Trading Up 2.2 %

NYSE AEM opened at $77.64 on Friday. The company has a market cap of $38.96 billion, a P/E ratio of 38.82, a P/E/G ratio of 0.66 and a beta of 1.09. Agnico Eagle Mines Limited has a 12 month low of $44.37 and a 12 month high of $89.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 0.83. The company has a 50-day moving average of $82.43 and a 200-day moving average of $75.26.

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.