Sumitomo Mitsui DS Asset Management Company Ltd Invests $385,000 in Agnico Eagle Mines Limited (NYSE:AEM)

Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 5,891 shares of the mining company’s stock, valued at approximately $385,000.

A number of other hedge funds have also recently added to or reduced their stakes in AEM. Lee Danner & Bass Inc. acquired a new stake in shares of Agnico Eagle Mines in the second quarter valued at approximately $8,988,000. Azzad Asset Management Inc. ADV boosted its stake in Agnico Eagle Mines by 0.3% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 61,820 shares of the mining company’s stock worth $4,043,000 after purchasing an additional 189 shares during the period. Signaturefd LLC grew its position in Agnico Eagle Mines by 24.6% during the 2nd quarter. Signaturefd LLC now owns 8,860 shares of the mining company’s stock worth $579,000 after purchasing an additional 1,751 shares during the last quarter. Raymond James Trust N.A. increased its stake in Agnico Eagle Mines by 5.1% in the second quarter. Raymond James Trust N.A. now owns 5,376 shares of the mining company’s stock valued at $352,000 after purchasing an additional 260 shares during the period. Finally, Moody Lynn & Lieberson LLC acquired a new stake in shares of Agnico Eagle Mines during the second quarter worth about $209,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

AEM has been the topic of several analyst reports. Jefferies Financial Group lifted their target price on Agnico Eagle Mines from $59.00 to $66.00 and gave the company a “hold” rating in a research note on Friday, July 12th. CIBC upped their price objective on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Scotiabank boosted their price target on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. BMO Capital Markets reduced their price objective on shares of Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, June 20th. Finally, StockNews.com upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Agnico Eagle Mines presently has an average rating of “Moderate Buy” and an average price target of $82.86.

Agnico Eagle Mines Trading Down 0.8 %

Shares of Agnico Eagle Mines stock opened at $81.47 on Monday. The company has a 50-day moving average of $74.60 and a two-hundred day moving average of $65.76. The stock has a market cap of $40.80 billion, a PE ratio of 85.76, a price-to-earnings-growth ratio of 0.79 and a beta of 1.06. The company has a current ratio of 1.51, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a 12-month low of $43.22 and a 12-month high of $83.50.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Wednesday, July 31st. The mining company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.14. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.03 billion. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. Agnico Eagle Mines’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period last year, the business posted $0.65 EPS. On average, research analysts anticipate that Agnico Eagle Mines Limited will post 3.65 EPS for the current fiscal year.

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.