Loeb Partners Corp reduced its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 8.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 11,500 shares of the mining company’s stock after selling 1,000 shares during the period. Loeb Partners Corp’s holdings in Agnico Eagle Mines Limited were worth $519,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AEM. Financial Architects Inc boosted its position in shares of Agnico Eagle Mines Limited by 52.8% in the first quarter. Financial Architects Inc now owns 2,605 shares of the mining company’s stock worth $111,000 after buying an additional 900 shares during the period. IFP Advisors Inc boosted its position in shares of Agnico Eagle Mines Limited by 9.8% in the first quarter. IFP Advisors Inc now owns 2,639 shares of the mining company’s stock worth $112,000 after buying an additional 235 shares during the period. WFG Advisors LP boosted its position in shares of Agnico Eagle Mines Limited by 76.6% in the first quarter. WFG Advisors LP now owns 3,580 shares of the mining company’s stock worth $152,000 after buying an additional 1,553 shares during the period. Wetherby Asset Management Inc. purchased a new position in shares of Agnico Eagle Mines Limited during the first quarter worth about $210,000. Finally, Fruth Investment Management purchased a new position in shares of Agnico Eagle Mines Limited during the second quarter worth about $212,000. 60.65% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Limited (AEM) traded down 0.32% during midday trading on Friday, hitting $46.15. 1,329,505 shares of the stock traded hands. The stock’s 50-day moving average price is $45.47 and its 200-day moving average price is $45.90. The stock has a market capitalization of $10.67 billion, a P/E ratio of 42.42 and a beta of -0.67. Agnico Eagle Mines Limited has a 52 week low of $35.05 and a 52 week high of $59.18.

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) last released its earnings results on Wednesday, July 26th. The mining company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.16 by $0.10. Agnico Eagle Mines Limited had a net margin of 11.32% and a return on equity of 5.38%. The firm had revenue of $549.88 million for the quarter, compared to the consensus estimate of $529.43 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts expect that Agnico Eagle Mines Limited will post $0.78 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Wednesday, August 30th. Agnico Eagle Mines Limited’s payout ratio is 36.70%.

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A number of research firms have weighed in on AEM. Zacks Investment Research raised shares of Agnico Eagle Mines Limited from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Thursday, May 11th. Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a $61.00 target price on shares of Agnico Eagle Mines Limited in a research note on Thursday, June 15th. Scotiabank reaffirmed an “outperform” rating and set a $56.50 target price on shares of Agnico Eagle Mines Limited in a research note on Friday, April 28th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $46.00 target price on shares of Agnico Eagle Mines Limited in a research note on Tuesday, April 18th. Finally, National Bank Financial upgraded shares of Agnico Eagle Mines Limited from a “sector perform” rating to an “outperform” rating in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. Agnico Eagle Mines Limited presently has an average rating of “Buy” and an average price target of $54.81.

Agnico Eagle Mines Limited Company Profile

Agnico Eagle Mines Limited is a gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut and exploration activities in Canada, Europe, Latin America and the United States. The Company operates through three business units. The Northern Business consists of its operations in Canada and Finland.

Institutional Ownership by Quarter for Agnico Eagle Mines Limited (NYSE:AEM)

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