Rothschild Asset Management Inc. Reduces Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Rothschild Asset Management Inc. cut its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 9.7% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 8,784 shares of the mining company’s stock after selling 943 shares during the period. Rothschild Asset Management Inc.’s holdings in Agnico Eagle Mines Limited were worth $514,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of AEM. First Manhattan Co. boosted its stake in Agnico Eagle Mines Limited by 56.3% in the first quarter. First Manhattan Co. now owns 23,805 shares of the mining company’s stock worth $1,289,000 after buying an additional 8,576 shares during the last quarter. Engineers Gate Manager LP boosted its stake in Agnico Eagle Mines Limited by 12.1% in the first quarter. Engineers Gate Manager LP now owns 27,800 shares of the mining company’s stock worth $1,180,000 after buying an additional 3,011 shares during the last quarter. Bank of Nova Scotia boosted its stake in Agnico Eagle Mines Limited by 23.7% in the first quarter. Bank of Nova Scotia now owns 604,615 shares of the mining company’s stock worth $25,653,000 after buying an additional 115,787 shares during the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in Agnico Eagle Mines Limited during the first quarter worth approximately $968,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in Agnico Eagle Mines Limited by 26.7% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 6,970 shares of the mining company’s stock worth $295,000 after buying an additional 1,470 shares during the last quarter. Institutional investors and hedge funds own 60.65% of the company’s stock.

Shares of Agnico Eagle Mines Limited (NYSE:AEM) opened at 46.15 on Friday. Agnico Eagle Mines Limited has a 12 month low of $35.05 and a 12 month high of $59.18. The company has a market cap of $10.67 billion, a price-to-earnings ratio of 42.42 and a beta of -0.67. The firm has a 50-day moving average of $45.47 and a 200 day moving average of $45.90.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.87%. 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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AEM has been the subject of a number of research reports. Credit Suisse Group set a $63.00 price target on shares of Agnico Eagle Mines Limited and gave the stock a “buy” rating in a report on Tuesday, July 18th. Royal Bank Of Canada set a $54.00 price target on shares of Agnico Eagle Mines Limited and gave the stock a “hold” rating in a report on Monday, June 12th. Zacks Investment Research upgraded shares of Agnico Eagle Mines Limited from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 25th. Scotiabank reiterated an “outperform” rating and set a $56.50 price objective on shares of Agnico Eagle Mines Limited in a report on Friday, April 28th. Finally, ValuEngine upgraded shares of Agnico Eagle Mines Limited from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus 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.

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

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