Candriam Luxembourg S.C.A. Grows Holdings in Agnico Eagle Mines Limited (AEM)

Candriam Luxembourg S.C.A. raised its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 60.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,017 shares of the mining company’s stock after acquiring an additional 69,912 shares during the quarter. Candriam Luxembourg S.C.A. owned approximately 0.08% of Agnico Eagle Mines Limited worth $8,387,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC grew its position in Agnico Eagle Mines Limited by 10.9% in the 2nd quarter. FMR LLC now owns 11,617,737 shares of the mining company’s stock valued at $523,909,000 after acquiring an additional 1,141,509 shares in the last quarter. Vanguard Group Inc. grew its position in Agnico Eagle Mines Limited by 6.9% in the 2nd quarter. Vanguard Group Inc. now owns 5,444,848 shares of the mining company’s stock valued at $245,672,000 after acquiring an additional 352,417 shares in the last quarter. Prudential PLC grew its position in Agnico Eagle Mines Limited by 0.9% in the 2nd quarter. Prudential PLC now owns 3,076,790 shares of the mining company’s stock valued at $138,825,000 after acquiring an additional 28,309 shares in the last quarter. TD Asset Management Inc. grew its position in Agnico Eagle Mines Limited by 3.1% in the 2nd quarter. TD Asset Management Inc. now owns 2,861,685 shares of the mining company’s stock valued at $128,860,000 after acquiring an additional 86,145 shares in the last quarter. Finally, APG Asset Management N.V. grew its position in Agnico Eagle Mines Limited by 0.5% in the 2nd quarter. APG Asset Management N.V. now owns 2,544,012 shares of the mining company’s stock valued at $148,774,000 after acquiring an additional 11,959 shares in the last quarter. 58.32% of the stock is owned by institutional investors.

Several equities analysts have recently issued reports on AEM shares. Credit Suisse Group reiterated a “buy” rating and issued a $59.00 price objective (down previously from $64.00) on shares of Agnico Eagle Mines Limited in a research note on Monday, September 25th. Zacks Investment Research upgraded Agnico Eagle Mines Limited from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research note on Thursday, July 27th. Royal Bank Of Canada reiterated a “hold” rating and issued a $54.00 price objective on shares of Agnico Eagle Mines Limited in a research note on Tuesday, July 18th. ValuEngine upgraded Agnico Eagle Mines Limited from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Finally, BMO Capital Markets set a $47.00 price objective on Agnico Eagle Mines Limited and gave the company a “hold” rating in a research note on Tuesday, August 22nd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Agnico Eagle Mines Limited presently has a consensus rating of “Buy” and a consensus target price of $54.44.

Shares of Agnico Eagle Mines Limited (NYSE AEM) traded down $0.35 during midday trading on Friday, reaching $45.00. The company’s stock had a trading volume of 1,080,100 shares, compared to its average volume of 1,342,386. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.70 and a current ratio of 3.85. Agnico Eagle Mines Limited has a one year low of $35.05 and a one year high of $51.86. The stock has a market capitalization of $10,425.29, a PE ratio of 39.13, a P/E/G ratio of 45.11 and a beta of -0.72.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.11 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.98%. This is a boost from Agnico Eagle Mines Limited’s previous quarterly dividend of $0.10. Agnico Eagle Mines Limited’s payout ratio is currently 34.19%.

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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.

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

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