Sumitomo Mitsui Trust Group Inc. Increases Stock Position in Agnico Eagle Mines Limited $AEM

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 17.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 76,532 shares of the mining company’s stock after purchasing an additional 11,128 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Agnico Eagle Mines were worth $15,534,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AEM. Brighton Jones LLC lifted its position in shares of Agnico Eagle Mines by 11.5% during the 4th quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock worth $252,000 after buying an additional 331 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Agnico Eagle Mines by 36.4% in the first quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company’s stock valued at $2,150,000 after acquiring an additional 5,293 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Agnico Eagle Mines by 57.2% in the second quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company’s stock valued at $379,000 after acquiring an additional 1,160 shares in the last quarter. Rhumbline Advisers increased its position in shares of Agnico Eagle Mines by 8.0% during the second quarter. Rhumbline Advisers now owns 1,810 shares of the mining company’s stock valued at $215,000 after acquiring an additional 134 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Agnico Eagle Mines by 25.2% during the second quarter. EverSource Wealth Advisors LLC now owns 929 shares of the mining company’s stock valued at $110,000 after acquiring an additional 187 shares during the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Trading Up 0.5%

NYSE:AEM opened at $144.29 on Wednesday. Agnico Eagle Mines Limited has a 12 month low of $116.83 and a 12 month high of $255.24. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average is $168.50 and its 200 day moving average is $192.40. The stock has a market capitalization of $73.24 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 1.88 and a beta of 0.60.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The business had revenue of $4 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same period in the prior year, the company earned $1.53 earnings per share. Agnico Eagle Mines’s revenue was up 66.1% compared to the same quarter last year. Sell-side analysts expect that Agnico Eagle Mines Limited will post 12.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on AEM shares. Scotia dropped their price target on Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating on the stock in a report on Friday, July 3rd. Bank of America reduced their price objective on Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Barclays lowered their target price on Agnico Eagle Mines from $213.00 to $210.00 and set an “overweight” rating on the stock in a research note on Monday, July 6th. ATB Cormark Capital Markets raised shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a report on Monday, May 4th. Finally, Erste Group Bank lowered shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.77.

Agnico Eagle Mines Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.