Bank of Nova Scotia reduced its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 1.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 592,835 shares of the mining company’s stock after selling 11,780 shares during the quarter. Bank of Nova Scotia owned about 0.26% of Agnico Eagle Mines Limited worth $26,737,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Agnico Eagle Mines Limited by 10.9% during the second quarter. FMR LLC now owns 11,617,737 shares of the mining company’s stock valued at $523,909,000 after purchasing an additional 1,141,509 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Agnico Eagle Mines Limited by 6.9% during the second quarter. Vanguard Group Inc. now owns 5,444,848 shares of the mining company’s stock valued at $245,672,000 after purchasing an additional 352,417 shares during the last quarter. Prudential PLC grew its stake in shares of Agnico Eagle Mines Limited by 0.9% during the second quarter. Prudential PLC now owns 3,076,790 shares of the mining company’s stock valued at $138,825,000 after purchasing an additional 28,309 shares during the last quarter. TD Asset Management Inc. grew its stake in shares of Agnico Eagle Mines Limited by 3.1% during the second quarter. TD Asset Management Inc. now owns 2,861,685 shares of the mining company’s stock valued at $128,860,000 after purchasing an additional 86,145 shares during the last quarter. Finally, APG Asset Management N.V. grew its stake in shares of Agnico Eagle Mines Limited by 0.5% during the second quarter. APG Asset Management N.V. now owns 2,544,012 shares of the mining company’s stock valued at $148,774,000 after purchasing an additional 11,959 shares during the last quarter. 59.02% of the stock is currently owned by institutional investors and hedge funds.

Shares of Agnico Eagle Mines Limited (AEM) traded down 0.033% during trading on Wednesday, reaching $45.935. 341,121 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $47.84 and its 200-day moving average price is $46.67. Agnico Eagle Mines Limited has a 52-week low of $35.05 and a 52-week high of $53.17. The stock has a market cap of $10.62 billion, a PE ratio of 41.759 and a beta of -0.76.

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) last posted its earnings results on Wednesday, July 26th. The mining company reported $0.26 earnings per share for the quarter, topping the Zacks’ 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 analyst estimates of $529.43 million. During the same period in the previous year, the firm posted $0.16 EPS. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities research analysts forecast that Agnico Eagle Mines Limited will post $0.80 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Wednesday, August 30th. Agnico Eagle Mines Limited’s dividend payout ratio is currently 36.70%.

Several analysts have recently commented on AEM shares. ValuEngine raised shares of Agnico Eagle Mines Limited from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Credit Suisse Group reissued a “buy” rating and set a $59.00 price target (down from $64.00) on shares of Agnico Eagle Mines Limited in a research note on Monday, September 25th. Zacks Investment Research cut shares of Agnico Eagle Mines Limited from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. BMO Capital Markets set a $47.00 price target on shares of Agnico Eagle Mines Limited and gave the company a “hold” rating in a research note on Tuesday, August 22nd. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $54.00 price target on shares of Agnico Eagle Mines Limited in a research note on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $54.44.

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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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