BNP Paribas Arbitrage SA trimmed its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 51.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,503 shares of the mining company’s stock after selling 18,534 shares during the period. BNP Paribas Arbitrage SA’s holdings in Agnico Eagle Mines Limited were worth $790,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in AEM. Van ECK Associates Corp increased its holdings in shares of Agnico Eagle Mines Limited by 4.4% during the 1st quarter. Van ECK Associates Corp now owns 17,122,389 shares of the mining company’s stock worth $726,674,000 after buying an additional 717,045 shares during the last quarter. Cidel Asset Management Inc. increased its holdings in shares of Agnico Eagle Mines Limited by 37.6% during the 1st quarter. Cidel Asset Management Inc. now owns 1,370,294 shares of the mining company’s stock worth $65,409,000 after buying an additional 374,562 shares during the last quarter. Credit Suisse AG increased its holdings in shares of Agnico Eagle Mines Limited by 54.5% during the 1st quarter. Credit Suisse AG now owns 808,552 shares of the mining company’s stock worth $34,315,000 after buying an additional 285,248 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Agnico Eagle Mines Limited by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 5,092,431 shares of the mining company’s stock worth $216,122,000 after buying an additional 215,145 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. increased its holdings in shares of Agnico Eagle Mines Limited by 700.0% during the 2nd quarter. Hussman Strategic Advisors Inc. now owns 200,000 shares of the mining company’s stock worth $9,024,000 after buying an additional 175,000 shares during the last quarter. Institutional investors and hedge funds own 59.08% of the company’s stock.

A number of research firms have recently commented on AEM. ValuEngine upgraded Agnico Eagle Mines Limited from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Royal Bank Of Canada restated a “hold” rating and set a $54.00 price objective on shares of Agnico Eagle Mines Limited in a report on Thursday, August 24th. BMO Capital Markets set a $47.00 price objective on Agnico Eagle Mines Limited and gave the stock a “hold” rating in a report on Tuesday, August 22nd. TD Securities upped their price objective on Agnico Eagle Mines Limited from $48.00 to $52.00 and gave the stock a “hold” rating in a report on Thursday, August 3rd. Finally, Scotiabank upped their price objective on Agnico Eagle Mines Limited from $58.00 to $58.50 and gave the stock an “outperform” rating in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $54.94.

Shares of Agnico Eagle Mines Limited (AEM) opened at 51.20 on Friday. Agnico Eagle Mines Limited has a one year low of $35.05 and a one year high of $57.35. The firm has a market capitalization of $11.84 billion, a P/E ratio of 47.06 and a beta of -0.71. The company has a 50-day moving average price of $47.46 and a 200 day moving average price of $45.96.

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Wednesday, July 26th. The mining company reported $0.26 earnings per share (EPS) for the quarter, beating 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 business had revenue of $549.88 million during the quarter, compared to analyst estimates of $529.43 million. During the same quarter in the previous year, the business earned $0.16 EPS. Agnico Eagle Mines Limited’s quarterly revenue was up 2.3% compared to the same quarter last year. Analysts expect that Agnico Eagle Mines Limited will post $0.80 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Wednesday, August 30th. Agnico Eagle Mines Limited’s payout ratio is presently 36.70%.

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About Agnico Eagle Mines Limited

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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