Agnico Eagle Mines Limited (NYSE:AEM) Position Reduced by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. reduced its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,617 shares of the mining company’s stock after selling 116 shares during the period. Sumitomo Life Insurance Co.’s holdings in Agnico Eagle Mines were worth $439,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AEM. Versant Capital Management Inc acquired a new position in Agnico Eagle Mines in the fourth quarter worth about $26,000. Decker Retirement Planning Inc. bought a new position in Agnico Eagle Mines during the 4th quarter worth approximately $29,000. FSC Wealth Advisors LLC acquired a new position in shares of Agnico Eagle Mines in the 3rd quarter worth approximately $32,000. Fifth Third Bancorp increased its holdings in shares of Agnico Eagle Mines by 176.9% in the 4th quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock valued at $32,000 after acquiring an additional 260 shares during the last quarter. Finally, McClarren Financial Advisors Inc. raised its position in shares of Agnico Eagle Mines by 684.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock valued at $41,000 after acquiring an additional 445 shares in the last quarter. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

NYSE AEM opened at $94.38 on Friday. The company has a 50-day moving average price of $83.52 and a two-hundred day moving average price of $81.41. The stock has a market cap of $47.40 billion, a price-to-earnings ratio of 47.19, a price-to-earnings-growth ratio of 0.60 and a beta of 1.08. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a 52 week low of $44.37 and a 52 week high of $94.77.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Jefferies Financial Group boosted their target price on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Tuesday, January 7th. Scotiabank boosted their price objective on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and a consensus price target of $90.50.

About Agnico Eagle Mines

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.