Agnico Eagle Mines Limited (NYSE:AEM) Shares Acquired by Foundation Resource Management Inc.

Foundation Resource Management Inc. raised its holdings in Agnico Eagle Mines Limited (NYSE:AEMGet Rating) (TSE:AEM) by 0.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 272,040 shares of the mining company’s stock after acquiring an additional 1,793 shares during the quarter. Agnico Eagle Mines accounts for about 2.2% of Foundation Resource Management Inc.’s portfolio, making the stock its 17th biggest holding. Foundation Resource Management Inc. owned 0.06% of Agnico Eagle Mines worth $12,449,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. GQG Partners LLC increased its holdings in Agnico Eagle Mines by 248.1% in the first quarter. GQG Partners LLC now owns 15,571,763 shares of the mining company’s stock worth $953,592,000 after buying an additional 11,098,612 shares during the last quarter. Van ECK Associates Corp lifted its position in Agnico Eagle Mines by 58.4% in the first quarter. Van ECK Associates Corp now owns 20,726,131 shares of the mining company’s stock worth $1,269,257,000 after purchasing an additional 7,644,320 shares during the period. Vanguard Group Inc. raised its stake in Agnico Eagle Mines by 96.5% during the first quarter. Vanguard Group Inc. now owns 15,067,317 shares of the mining company’s stock worth $922,721,000 after acquiring an additional 7,399,467 shares in the last quarter. Flossbach Von Storch AG raised its stake in Agnico Eagle Mines by 233.4% during the first quarter. Flossbach Von Storch AG now owns 6,916,401 shares of the mining company’s stock worth $423,560,000 after acquiring an additional 4,841,789 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in Agnico Eagle Mines by 85.1% during the first quarter. Mackenzie Financial Corp now owns 10,416,166 shares of the mining company’s stock worth $638,389,000 after acquiring an additional 4,789,991 shares in the last quarter. 57.62% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Price Performance

NYSE:AEM traded down $2.59 during trading hours on Friday, hitting $38.54. The company’s stock had a trading volume of 198,668 shares, compared to its average volume of 2,449,448. The stock has a fifty day simple moving average of $42.83 and a 200-day simple moving average of $51.21. The company has a market capitalization of $17.58 billion, a P/E ratio of 22.06, a PEG ratio of 18.24 and a beta of 0.82. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.58 and a quick ratio of 1.48. Agnico Eagle Mines Limited has a twelve month low of $38.02 and a twelve month high of $67.14.

Agnico Eagle Mines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $1.60 annualized dividend and a yield of 4.15%. Agnico Eagle Mines’s dividend payout ratio is presently 90.91%.

Wall Street Analyst Weigh In

A number of analysts recently commented on AEM shares. Stifel Nicolaus lowered their price objective on Agnico Eagle Mines from C$100.00 to C$89.00 in a research report on Wednesday, July 20th. National Bank Financial reduced their target price on Agnico Eagle Mines from C$98.00 to C$75.00 in a report on Thursday, July 21st. Barclays reduced their target price on Agnico Eagle Mines from $70.00 to $62.00 and set an “overweight” rating on the stock in a report on Tuesday, July 19th. The Goldman Sachs Group initiated coverage on Agnico Eagle Mines in a report on Monday, September 12th. They set a “buy” rating and a $55.00 price objective on the stock. Finally, Canaccord Genuity Group lifted their price objective on Agnico Eagle Mines from C$89.00 to C$91.00 and gave the company a “buy” rating in a report on Tuesday. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $73.00.

Agnico Eagle Mines Profile

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Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. It operates through Northern Business and Southern Business segments. The company primarily produces and sells gold deposits, as well as explores for silver, zinc, and copper deposits.

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

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