Mackenzie Financial Corp Boosts Stake in Agnico Eagle Mines Limited (AEM)

Mackenzie Financial Corp lifted its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 12.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 364,485 shares of the mining company’s stock after buying an additional 39,790 shares during the quarter. Mackenzie Financial Corp owned about 0.16% of Agnico Eagle Mines worth $16,478,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sei Investments Co. lifted its holdings in shares of Agnico Eagle Mines by 75.7% during the second quarter. Sei Investments Co. now owns 2,260 shares of the mining company’s stock worth $102,000 after buying an additional 974 shares in the last quarter. Pinebridge Investments L.P. acquired a new position in Agnico Eagle Mines in the third quarter valued at about $170,000. WFG Advisors LP raised its stake in Agnico Eagle Mines by 8.6% in the second quarter. WFG Advisors LP now owns 3,889 shares of the mining company’s stock valued at $175,000 after purchasing an additional 309 shares in the last quarter. Oppenheimer & Close LLC acquired a new position in Agnico Eagle Mines in the second quarter valued at about $209,000. Finally, High Pointe Capital Management LLC acquired a new position in Agnico Eagle Mines in the third quarter valued at about $220,000. 58.43% of the stock is owned by institutional investors.

Agnico Eagle Mines Limited (NYSE:AEM) opened at $41.42 on Thursday. Agnico Eagle Mines Limited has a 12-month low of $35.05 and a 12-month high of $51.86. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.85 and a quick ratio of 2.70. The stock has a market capitalization of $9,829.89, a PE ratio of 36.90, a price-to-earnings-growth ratio of 42.69 and a beta of -0.73.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, November 30th. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.10. Agnico Eagle Mines’s payout ratio is currently 37.61%.

AEM has been the subject of a number of analyst reports. ValuEngine raised Agnico Eagle Mines from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Credit Suisse Group set a $64.00 price target on Agnico Eagle Mines and gave the company a “buy” rating in a research note on Sunday, September 10th. Zacks Investment Research downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. National Bank Financial reaffirmed an “outperform market weight” rating on shares of Agnico Eagle Mines in a research note on Friday, September 8th. Finally, BMO Capital Markets set a $47.00 price target on Agnico Eagle Mines and gave the company a “hold” rating in a research note on Tuesday, November 14th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Agnico Eagle Mines currently has an average rating of “Buy” and a consensus price target of $54.44.

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About Agnico Eagle Mines

Agnico Eagle Mines Ltd is a Canada-based gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut, as well as exploration activities in Canada, Europe, Latin America and the United States. It operates through the business units: Northern Business, which consists of its operations in Canada and Finland, such as the LaRonde mine, the Lapa mine, the Goldex mine, the Meadowbank mine, the Meliadine project and the Malartic Mine in Canada, as well as the Kittila mine in Finland; Southern Business, which consists of its operations in Mexico, such as the Pinos Altos mine that includes the Creston Mascota deposit and the La India mine owned by its indirect subsidiary, as well as Exploration Group, which focuses on the identification of new mineral reserves and mineral resources, and new development opportunities in gold producing regions.

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

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