Profund Advisors LLC Has $10.46 Million Position in Agnico Eagle Mines Limited $AEM

Profund Advisors LLC boosted its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 46.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,030 shares of the mining company’s stock after purchasing an additional 19,797 shares during the quarter. Profund Advisors LLC’s holdings in Agnico Eagle Mines were worth $10,456,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Agnico Eagle Mines by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 20,417,906 shares of the mining company’s stock valued at $2,432,603,000 after buying an additional 614,437 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Agnico Eagle Mines by 5.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,712,397 shares of the mining company’s stock valued at $1,974,242,000 after acquiring an additional 602,489 shares during the period. TD Asset Management Inc increased its holdings in shares of Agnico Eagle Mines by 3.6% during the second quarter. TD Asset Management Inc now owns 9,356,548 shares of the mining company’s stock valued at $1,112,500,000 after acquiring an additional 323,252 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Agnico Eagle Mines by 1.9% during the second quarter. Mackenzie Financial Corp now owns 8,778,276 shares of the mining company’s stock worth $1,046,468,000 after purchasing an additional 160,650 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Agnico Eagle Mines by 38.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 8,296,796 shares of the mining company’s stock worth $987,398,000 after purchasing an additional 2,319,131 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Up 3.9%

Shares of AEM stock opened at $196.86 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.12. The company has a market capitalization of $98.56 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 0.48 and a beta of 0.63. Agnico Eagle Mines Limited has a 52-week low of $92.11 and a 52-week high of $225.00. The company has a 50-day simple moving average of $185.34 and a two-hundred day simple moving average of $165.09.

Analysts Set New Price Targets

A number of brokerages have commented on AEM. Weiss Ratings lowered shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research note on Monday, January 12th. Bank of America lifted their price objective on shares of Agnico Eagle Mines from $209.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Royal Bank Of Canada lowered shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from $185.00 to $205.00 in a report on Wednesday, December 10th. Raymond James Financial reaffirmed an “outperform” rating and issued a $225.00 price target on shares of Agnico Eagle Mines in a research report on Wednesday, January 14th. Finally, Jefferies Financial Group set a $189.00 price objective on Agnico Eagle Mines in a report on Sunday, December 7th. Four investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $230.64.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.