Varma Mutual Pension Insurance Co Has $26.54 Million Stock Holdings in Agnico Eagle Mines Limited $AEM

Varma Mutual Pension Insurance Co lifted its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 8.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 157,552 shares of the mining company’s stock after purchasing an additional 12,300 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Agnico Eagle Mines were worth $26,542,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. TD Waterhouse Canada Inc. raised its holdings in shares of Agnico Eagle Mines by 13.4% during the third quarter. TD Waterhouse Canada Inc. now owns 1,133,384 shares of the mining company’s stock valued at $192,951,000 after acquiring an additional 134,147 shares during the period. Ninety One UK Ltd boosted its stake in Agnico Eagle Mines by 386.5% in the 3rd quarter. Ninety One UK Ltd now owns 188,189 shares of the mining company’s stock worth $31,703,000 after purchasing an additional 149,506 shares during the period. Campbell & CO Investment Adviser LLC grew its position in Agnico Eagle Mines by 1,560.8% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 48,677 shares of the mining company’s stock worth $8,205,000 after purchasing an additional 45,746 shares in the last quarter. AustralianSuper Pty Ltd acquired a new stake in Agnico Eagle Mines during the 3rd quarter valued at $23,958,000. Finally, Addenda Capital Inc. lifted its holdings in shares of Agnico Eagle Mines by 2.3% in the third quarter. Addenda Capital Inc. now owns 724,231 shares of the mining company’s stock valued at $122,076,000 after purchasing an additional 15,965 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Up 2.5%

Shares of NYSE AEM opened at $217.10 on Thursday. The business has a 50 day simple moving average of $187.89 and a 200 day simple moving average of $166.63. Agnico Eagle Mines Limited has a 52 week low of $92.11 and a 52 week high of $225.00. The stock has a market cap of $108.70 billion, a price-to-earnings ratio of 31.69, a PEG ratio of 0.50 and a beta of 0.63. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.12.

Analyst Ratings Changes

AEM has been the subject of several recent analyst reports. Scotiabank raised their target price on Agnico Eagle Mines from $219.00 to $276.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Wall Street Zen downgraded Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 31st. Jefferies Financial Group set a $189.00 target price on Agnico Eagle Mines in a research note on Sunday, December 7th. Citigroup upped their target price on Agnico Eagle Mines from $198.00 to $256.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Agnico Eagle Mines in a research report on Thursday, January 29th. They issued a “neutral” rating and a $248.00 price target for the company. Three equities research 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. Based on data from MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and a consensus price target of $230.64.

Agnico Eagle Mines 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.