Sumitomo Mitsui Trust Group Inc. Grows Holdings in Agnico Eagle Mines Limited $AEM

Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 75.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,757 shares of the mining company’s stock after acquiring an additional 19,695 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Agnico Eagle Mines were worth $7,713,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Ninety One UK Ltd increased its position in Agnico Eagle Mines by 386.5% during the third quarter. Ninety One UK Ltd now owns 188,189 shares of the mining company’s stock valued at $31,703,000 after acquiring an additional 149,506 shares during the last quarter. Addenda Capital Inc. boosted its stake in shares of Agnico Eagle Mines by 2.3% during the 3rd quarter. Addenda Capital Inc. now owns 724,231 shares of the mining company’s stock worth $122,076,000 after purchasing an additional 15,965 shares during the period. Schroder Investment Management Group boosted its stake in shares of Agnico Eagle Mines by 12.7% during the 2nd quarter. Schroder Investment Management Group now owns 438,080 shares of the mining company’s stock worth $52,101,000 after purchasing an additional 49,480 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Agnico Eagle Mines by 2.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,178,532 shares of the mining company’s stock valued at $140,135,000 after purchasing an additional 31,087 shares during the last quarter. Finally, Liontrust Investment Partners LLP grew its holdings in Agnico Eagle Mines by 146.8% during the 2nd quarter. Liontrust Investment Partners LLP now owns 151,451 shares of the mining company’s stock valued at $18,012,000 after purchasing an additional 90,076 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Trading Down 1.4%

Shares of NYSE AEM opened at $197.61 on Friday. Agnico Eagle Mines Limited has a twelve month low of $82.86 and a twelve month high of $201.95. The firm has a market cap of $98.94 billion, a PE ratio of 28.85, a price-to-earnings-growth ratio of 0.61 and a beta of 0.63. The business has a fifty day simple moving average of $174.19 and a two-hundred day simple moving average of $155.92. The company has a quick ratio of 1.31, a current ratio of 2.12 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 EPS for the quarter, beating the consensus estimate of $1.76 by $0.40. Agnico Eagle Mines had a return on equity of 15.64% and a net margin of 32.62%.The firm had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter last year, the firm posted $1.14 earnings per share. Analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Scotiabank restated an “outperform” rating on shares of Agnico Eagle Mines in a research report on Thursday, October 23rd. Wall Street Zen lowered Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 11th. Raymond James Financial reaffirmed an “outperform” rating and issued a $225.00 price objective on shares of Agnico Eagle Mines in a research report on Wednesday. Zacks Research upgraded Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 4th. Finally, Royal Bank Of Canada downgraded Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $185.00 to $205.00 in a research report on Wednesday, December 10th. Five investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $211.70.

About Agnico Eagle Mines

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.