Sumitomo Mitsui Trust Holdings Inc. Has $77.69 Million Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 3.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,412,452 shares of the mining company’s stock after buying an additional 40,719 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.28% of Agnico Eagle Mines worth $77,690,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Agnico Eagle Mines by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 17,224,538 shares of the mining company’s stock valued at $782,855,000 after purchasing an additional 278,647 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Agnico Eagle Mines by 1.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,794,968 shares of the mining company’s stock valued at $626,981,000 after purchasing an additional 152,166 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Agnico Eagle Mines by 13.9% in the 4th quarter. Mackenzie Financial Corp now owns 9,852,941 shares of the mining company’s stock valued at $511,175,000 after purchasing an additional 1,199,348 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Agnico Eagle Mines by 8.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,380,993 shares of the mining company’s stock valued at $383,555,000 after acquiring an additional 665,356 shares during the period. Finally, Flossbach Von Storch AG raised its holdings in Agnico Eagle Mines by 0.4% in the 3rd quarter. Flossbach Von Storch AG now owns 5,666,972 shares of the mining company’s stock valued at $257,564,000 after acquiring an additional 21,766 shares during the period. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $62.49 on Thursday. The company has a current ratio of 2.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $31.16 billion, a price-to-earnings ratio of 15.20, a P/E/G ratio of 0.92 and a beta of 1.06. The firm’s 50 day simple moving average is $54.48 and its 200 day simple moving average is $51.70. Agnico Eagle Mines Limited has a 1 year low of $43.22 and a 1 year high of $64.19.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Friday, February 16th. The mining company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.09. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.72 billion. Agnico Eagle Mines had a net margin of 29.29% and a return on equity of 5.54%. The firm’s revenue for the quarter was up 26.9% on a year-over-year basis. During the same quarter last year, the business posted $0.41 EPS. As a group, research analysts expect that Agnico Eagle Mines Limited will post 2.51 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.40 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.60 dividend on an annualized basis and a yield of 2.56%. Agnico Eagle Mines’s dividend payout ratio is currently 38.93%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. CIBC lowered their price target on shares of Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. National Bank Financial reissued an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. Raymond James increased their price target on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the company an “outperform” rating in a report on Friday, January 12th. Jefferies Financial Group initiated coverage on shares of Agnico Eagle Mines in a report on Thursday, February 29th. They issued a “hold” rating and a $54.00 price target on the stock. Finally, TD Securities lowered their target price on shares of Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and an average target price of $63.71.

Agnico Eagle Mines 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.