Sumitomo Life Insurance Co. Acquires 14,959 Shares of Agnico Eagle Mines Limited $AEM

Sumitomo Life Insurance Co. increased its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 287.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 20,166 shares of the mining company’s stock after buying an additional 14,959 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Agnico Eagle Mines were worth $3,420,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AEM. Abound Wealth Management lifted its stake in shares of Agnico Eagle Mines by 99.0% during the 4th quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock worth $35,000 after acquiring an additional 104 shares during the last quarter. Lodestone Wealth Management LLC bought a new stake in shares of Agnico Eagle Mines during the 4th quarter worth approximately $35,000. Jessup Wealth Management Inc bought a new stake in shares of Agnico Eagle Mines during the 4th quarter worth approximately $35,000. Caitlin John LLC bought a new stake in shares of Agnico Eagle Mines during the 3rd quarter worth approximately $36,000. Finally, Bangor Savings Bank bought a new stake in shares of Agnico Eagle Mines during the 4th quarter worth approximately $37,000. 68.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Weiss Ratings lowered Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. TD Securities raised their price objective on Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Erste Group Bank downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Tuesday, March 24th. Barclays assumed coverage on Agnico Eagle Mines in a report on Thursday, May 21st. They set an “overweight” rating and a $213.00 price objective on the stock. Finally, Zacks Research downgraded Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.08.

Agnico Eagle Mines Trading Up 3.1%

Shares of NYSE:AEM opened at $162.70 on Friday. Agnico Eagle Mines Limited has a 12-month low of $114.60 and a 12-month high of $255.24. The business’s fifty day simple moving average is $190.08 and its 200-day simple moving average is $194.36. The company has a market capitalization of $81.43 billion, a PE ratio of 15.29, a P/E/G ratio of 3.46 and a beta of 0.56. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $3.96 billion. During the same period last year, the business posted $1.53 EPS. The business’s revenue was up 66.1% compared to the same quarter last year. As a group, equities research analysts predict that Agnico Eagle Mines Limited will post 13.2 earnings per share for the current fiscal year.

Agnico Eagle Mines Company 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.