Massachusetts Financial Services Co. MA Raises Stake in Agnico Eagle Mines Ltd (NYSE:AEM)

Massachusetts Financial Services Co. MA increased its stake in shares of Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) by 1.5% during the third quarter, HoldingsChannel.com reports. The firm owned 2,052,961 shares of the mining company’s stock after buying an additional 30,582 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Agnico Eagle Mines were worth $110,060,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Signaturefd LLC increased its stake in Agnico Eagle Mines by 12.8% in the 3rd quarter. Signaturefd LLC now owns 1,849 shares of the mining company’s stock worth $99,000 after acquiring an additional 210 shares during the last quarter. Carroll Financial Associates Inc. increased its stake in Agnico Eagle Mines by 64.0% in the 2nd quarter. Carroll Financial Associates Inc. now owns 546 shares of the mining company’s stock worth $27,000 after acquiring an additional 213 shares during the last quarter. Falcon Point Capital LLC increased its stake in Agnico Eagle Mines by 5.3% in the 2nd quarter. Falcon Point Capital LLC now owns 5,216 shares of the mining company’s stock worth $267,000 after acquiring an additional 264 shares during the last quarter. Wetherby Asset Management Inc. increased its stake in Agnico Eagle Mines by 4.4% in the 3rd quarter. Wetherby Asset Management Inc. now owns 6,310 shares of the mining company’s stock worth $338,000 after acquiring an additional 268 shares during the last quarter. Finally, Boenning & Scattergood Inc. increased its stake in Agnico Eagle Mines by 2.9% in the 3rd quarter. Boenning & Scattergood Inc. now owns 10,835 shares of the mining company’s stock worth $580,000 after acquiring an additional 310 shares during the last quarter. 61.05% of the stock is currently owned by institutional investors and hedge funds.

Shares of Agnico Eagle Mines stock traded up $0.29 during trading on Thursday, hitting $59.26. 201,626 shares of the stock traded hands, compared to its average volume of 1,430,969. The company has a quick ratio of 0.70, a current ratio of 1.42 and a debt-to-equity ratio of 0.30. The stock has a market cap of $14.13 billion, a price-to-earnings ratio of 77.11, a PEG ratio of 60.49 and a beta of -0.54. The firm’s fifty day moving average is $56.18 and its 200-day moving average is $52.42. Agnico Eagle Mines Ltd has a 52 week low of $33.46 and a 52 week high of $64.88.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Wednesday, October 23rd. The mining company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.27 by $0.10. The firm had revenue of $683.00 million for the quarter, compared to analyst estimates of $683.18 million. Agnico Eagle Mines had a positive return on equity of 3.80% and a negative net margin of 11.06%. The company’s revenue was up 31.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.01 EPS. On average, analysts forecast that Agnico Eagle Mines Ltd will post 0.96 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.175 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.70 annualized dividend and a dividend yield of 1.18%.

AEM has been the topic of a number of research analyst reports. ValuEngine lowered Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. National Bank Financial upped their target price on Agnico Eagle Mines from $100.00 to $102.00 and gave the stock an “outperform” rating in a research note on Sunday, October 27th. Citigroup upped their target price on Agnico Eagle Mines from $55.00 to $64.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 11th. Barclays set a $53.00 target price on Agnico Eagle Mines and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. upped their target price on Agnico Eagle Mines from $68.00 to $83.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $65.40.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, 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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