Agnico Eagle Mines Limited $AEM Stock: Sumitomo Mitsui Trust Group Inc. Trims Holdings

Sumitomo Mitsui Trust Group Inc. decreased its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 34.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,054 shares of the mining company’s stock after selling 30,888 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Agnico Eagle Mines were worth $11,006,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. QRG Capital Management Inc. raised its holdings in Agnico Eagle Mines by 4.1% during the second quarter. QRG Capital Management Inc. now owns 1,460 shares of the mining company’s stock worth $226,000 after acquiring an additional 58 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in shares of Agnico Eagle Mines by 1.5% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 4,362 shares of the mining company’s stock valued at $800,000 after buying an additional 63 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in shares of Agnico Eagle Mines by 0.7% in the 3rd quarter. Evergreen Capital Management LLC now owns 9,933 shares of the mining company’s stock valued at $1,820,000 after buying an additional 71 shares during the last quarter. Aries Wealth Management boosted its holdings in shares of Agnico Eagle Mines by 1.4% in the 3rd quarter. Aries Wealth Management now owns 5,620 shares of the mining company’s stock valued at $1,030,000 after buying an additional 80 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its stake in shares of Agnico Eagle Mines by 0.9% in the third quarter. Quadrant Capital Group LLC now owns 10,287 shares of the mining company’s stock valued at $1,909,000 after buying an additional 93 shares in the last quarter. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

NYSE AEM traded up $2.53 on Friday, reaching $191.59. The stock had a trading volume of 1,750,868 shares, compared to its average volume of 1,862,876. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.75 and a quick ratio of 1.90. The firm has a fifty day moving average of $188.98 and a two-hundred day moving average of $188.96. Agnico Eagle Mines Limited has a 1-year low of $134.38 and a 1-year high of $255.24. The company has a market cap of $97.13 billion, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 2.53 and a beta of 0.69.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Wednesday, October 28th. The mining company reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.15. Agnico Eagle Mines had a net margin of 41.01% and a return on equity of 21.68%. The firm had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter in the previous year, the firm posted $2.10 EPS. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. On average, equities research analysts anticipate that Agnico Eagle Mines Limited will post 11.42 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Agnico Eagle Mines from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, October 14th. Zacks Research upgraded Agnico Eagle Mines from a “strong sell” rating to a “hold” rating in a research note on Monday, September 7th. Barclays cut their price objective on Agnico Eagle Mines from $218.00 to $215.00 and set an “overweight” rating for the company in a research report on Monday, November 2nd. RBC Dominion Securities set a $225.00 target price on Agnico Eagle Mines and gave the stock a “sector perform” rating in a research note on Thursday, October 22nd. Finally, Royal Bank Of Canada lifted their target price on Agnico Eagle Mines from $210.00 to $225.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 16th. Thirteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and an average target price of $227.00.

About Agnico Eagle Mines

Agnico Eagle Mines Limited (NYSE:AEM) is a Canadian gold mining company engaged in the exploration, development and production of gold, as well as related activities such as mineral processing and mine-site reclamation. The company’s principal product is gold, with silver and other byproducts also recovered from certain operations.

Founded in 1957 through the merger of Agnico Mines and Eagle Mines, Agnico Eagle has grown into one of the world’s largest gold producers. Its operating portfolio is concentrated in established mining regions, including the Canadian provinces of Ontario and Quebec, Nunavut in northern Canada, and Finland.