Addenda Capital Inc. Has $10.86 Million Position in Agnico Eagle Mines Limited (NYSE:AEM)

Addenda Capital Inc. raised its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 1,651.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 138,817 shares of the mining company’s stock after purchasing an additional 130,890 shares during the period. Addenda Capital Inc.’s holdings in Agnico Eagle Mines were worth $10,857,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Versant Capital Management Inc acquired a new position in Agnico Eagle Mines in the fourth quarter valued at $26,000. Decker Retirement Planning Inc. bought a new position in Agnico Eagle Mines in the fourth quarter worth approximately $29,000. Abich Financial Wealth Management LLC bought a new position in shares of Agnico Eagle Mines in the 2nd quarter worth $32,000. FSC Wealth Advisors LLC acquired a new position in shares of Agnico Eagle Mines during the third quarter valued at about $32,000. Finally, McClarren Financial Advisors Inc. boosted its stake in Agnico Eagle Mines by 684.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock valued at $41,000 after purchasing an additional 445 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $85.12 on Tuesday. The firm has a market cap of $42.75 billion, a price-to-earnings ratio of 42.56, a price-to-earnings-growth ratio of 0.56 and a beta of 1.08. The stock has a fifty day simple moving average of $81.84 and a two-hundred day simple moving average of $80.53. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a 1-year low of $44.37 and a 1-year high of $89.00.

Analysts Set New Price Targets

Separately, Jefferies Financial Group upped their target price 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 equities 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.com, Agnico Eagle Mines has an average rating of “Moderate Buy” and a consensus price target of $89.13.

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.