Russell Investments Group Ltd. cut its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 10.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 729,432 shares of the mining company’s stock after selling 83,017 shares during the period. Russell Investments Group Ltd. owned 0.31% of Agnico Eagle Mines Limited worth $32,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the business. Wetherby Asset Management Inc. raised its position in Agnico Eagle Mines Limited by 3.5% during the second quarter. Wetherby Asset Management Inc. now owns 5,110 shares of the mining company’s stock valued at $230,000 after purchasing an additional 175 shares during the period. WFG Advisors LP raised its position in Agnico Eagle Mines Limited by 8.6% during 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 during the period. Korea Investment CORP raised its position in Agnico Eagle Mines Limited by 3.1% during the second quarter. Korea Investment CORP now owns 14,258 shares of the mining company’s stock valued at $642,000 after purchasing an additional 428 shares during the period. Advisor Group Inc. raised its position in Agnico Eagle Mines Limited by 2.5% during the second quarter. Advisor Group Inc. now owns 20,304 shares of the mining company’s stock valued at $916,000 after purchasing an additional 497 shares during the period. Finally, Sei Investments Co. raised its position in Agnico Eagle Mines Limited by 75.7% during the second quarter. Sei Investments Co. now owns 2,260 shares of the mining company’s stock valued at $102,000 after purchasing an additional 974 shares during the period. Institutional investors and hedge funds own 59.10% of the company’s stock.

Agnico Eagle Mines Limited (NYSE:AEM) opened at $44.45 on Wednesday. The company has a market capitalization of $10,330.00, a price-to-earnings ratio of 38.25, a price-to-earnings-growth ratio of 44.10 and a beta of -0.72. Agnico Eagle Mines Limited has a fifty-two week low of $35.05 and a fifty-two week high of $51.86. The company has a current ratio of 3.85, a quick ratio of 2.70 and a debt-to-equity ratio of 0.28.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.11 per share. This is an increase from Agnico Eagle Mines Limited’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a yield of 0.99%. The ex-dividend date is Thursday, November 30th. Agnico Eagle Mines Limited’s dividend payout ratio (DPR) is presently 34.19%.

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A number of equities research analysts have issued reports on the company. BMO Capital Markets set a $47.00 price objective on Agnico Eagle Mines Limited and gave the company a “hold” rating in a research report on Tuesday, November 14th. Credit Suisse Group set a $64.00 price objective on Agnico Eagle Mines Limited and gave the company a “buy” rating in a research report on Sunday, September 10th. Zacks Investment Research upgraded Agnico Eagle Mines Limited from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research report on Tuesday, October 3rd. ValuEngine upgraded Agnico Eagle Mines Limited from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Finally, National Bank Financial restated an “outperform market weight” rating on shares of Agnico Eagle Mines Limited in a research report on Friday, September 8th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $54.44.

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.

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

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