Agnico Eagle Mines Limited (NYSE:AEM) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,090 shares of the mining company’s stock after selling 780 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Agnico Eagle Mines were worth $3,262,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its position in Agnico Eagle Mines by 11.5% in the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock valued at $252,000 after purchasing an additional 331 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Agnico Eagle Mines by 7.4% during the 4th quarter. Bank of New York Mellon Corp now owns 479,600 shares of the mining company’s stock valued at $37,510,000 after acquiring an additional 32,961 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Agnico Eagle Mines during the 4th quarter valued at about $814,000. US Bancorp DE increased its stake in shares of Agnico Eagle Mines by 2.7% during the 4th quarter. US Bancorp DE now owns 6,770 shares of the mining company’s stock valued at $529,000 after acquiring an additional 175 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Agnico Eagle Mines by 859.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock worth $28,000 after purchasing an additional 318 shares during the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM opened at $120.12 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.20 and a current ratio of 2.37. The company has a market capitalization of $60.46 billion, a P/E ratio of 25.56, a price-to-earnings-growth ratio of 0.90 and a beta of 0.50. Agnico Eagle Mines Limited has a fifty-two week low of $68.78 and a fifty-two week high of $126.76. The company’s 50-day moving average is $117.39 and its 200 day moving average is $104.15.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, April 24th. The mining company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.39 by $0.14. Agnico Eagle Mines had a net margin of 26.48% and a return on equity of 12.09%. The business had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the prior year, the firm earned $0.76 earnings per share. The company’s revenue was up 34.9% compared to the same quarter last year. On average, equities research analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The business also recently announced a dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a $0.40 dividend. This represents a yield of 1.36%. The ex-dividend date was Friday, May 30th. Agnico Eagle Mines’s dividend payout ratio is currently 34.04%.

Wall Street Analysts Forecast Growth

AEM has been the subject of a number of recent analyst reports. National Bank Financial upgraded Agnico Eagle Mines to a “strong-buy” rating in a research note on Friday, March 21st. Lake Street Capital reaffirmed a “buy” rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. Bank of America upped their price objective on Agnico Eagle Mines from $170.00 to $173.00 and gave the company a “buy” rating in a report on Monday, June 23rd. Scotiabank restated an “outperform” rating on shares of Agnico Eagle Mines in a report on Monday, April 14th. Finally, Citigroup upped their price objective on Agnico Eagle Mines from $100.00 to $140.00 and gave the company a “buy” rating in a report on Monday, March 31st. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $130.50.

Agnico Eagle Mines Company Profile

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.