Sumitomo Mitsui Trust Holdings Inc. Acquires 40,719 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 3.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,412,452 shares of the mining company’s stock after purchasing an additional 40,719 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Agnico Eagle Mines were worth $77,690,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in AEM. Vanguard Group Inc. grew its holdings in Agnico Eagle Mines by 96.5% in the 1st quarter. Vanguard Group Inc. now owns 15,067,317 shares of the mining company’s stock worth $922,721,000 after acquiring an additional 7,399,467 shares during the last quarter. Norges Bank bought a new stake in Agnico Eagle Mines in the 4th quarter worth $285,370,000. Invesco Ltd. grew its holdings in Agnico Eagle Mines by 57.5% in the 1st quarter. Invesco Ltd. now owns 3,884,284 shares of the mining company’s stock worth $237,874,000 after acquiring an additional 1,417,607 shares during the last quarter. Mackenzie Financial Corp grew its holdings in Agnico Eagle Mines by 13.9% in the 4th quarter. Mackenzie Financial Corp now owns 9,852,941 shares of the mining company’s stock worth $511,175,000 after acquiring an additional 1,199,348 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd bought a new stake in Agnico Eagle Mines in the 4th quarter worth $41,610,000. Institutional investors own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Agnico Eagle Mines in a report on Thursday, February 29th. They issued a “hold” rating and a $54.00 price target on the stock. CIBC cut their target price on shares of Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. TD Securities cut their target price on shares of Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. Finally, Raymond James lifted their target price on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the company an “outperform” rating in a research note on Friday, January 12th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and an average price target of $63.71.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock opened at $62.49 on Thursday. The company has a market cap of $31.16 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 0.92 and a beta of 1.06. The firm’s fifty day moving average is $54.48 and its 200 day moving average is $51.70. The company has a quick ratio of 0.74, a current ratio of 2.09 and a debt-to-equity ratio of 0.10. Agnico Eagle Mines Limited has a 52-week low of $43.22 and a 52-week high of $64.19.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Friday, February 16th. The mining company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.09. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.72 billion. Agnico Eagle Mines had a net margin of 29.29% and a return on equity of 5.54%. Agnico Eagle Mines’s revenue was up 26.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 earnings per share. Sell-side analysts forecast that Agnico Eagle Mines Limited will post 2.51 EPS for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend was Thursday, February 29th. Agnico Eagle Mines’s payout ratio is 38.93%.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.