Sumitomo Mitsui DS Asset Management Company Ltd Trims Stake in Agnico Eagle Mines Limited $AEM

Sumitomo Mitsui DS Asset Management Company Ltd lowered its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 4.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,421 shares of the mining company’s stock after selling 281 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Agnico Eagle Mines were worth $645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Hexagon Capital Partners LLC lifted its stake in shares of Agnico Eagle Mines by 31.1% in the first quarter. Hexagon Capital Partners LLC now owns 367 shares of the mining company’s stock worth $40,000 after buying an additional 87 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Agnico Eagle Mines by 19.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 774 shares of the mining company’s stock worth $84,000 after buying an additional 125 shares in the last quarter. Continuum Advisory LLC lifted its stake in shares of Agnico Eagle Mines by 47.0% in the first quarter. Continuum Advisory LLC now owns 397 shares of the mining company’s stock worth $43,000 after buying an additional 127 shares in the last quarter. Sapient Capital LLC lifted its stake in shares of Agnico Eagle Mines by 1.2% in the first quarter. Sapient Capital LLC now owns 10,984 shares of the mining company’s stock worth $1,191,000 after buying an additional 128 shares in the last quarter. Finally, US Bancorp DE lifted its position in Agnico Eagle Mines by 2.0% during the first quarter. US Bancorp DE now owns 6,908 shares of the mining company’s stock valued at $749,000 after purchasing an additional 138 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Down 0.1%

Shares of AEM stock opened at $161.05 on Tuesday. Agnico Eagle Mines Limited has a 12 month low of $75.17 and a 12 month high of $164.64. The stock has a market cap of $80.98 billion, a P/E ratio of 27.39, a P/E/G ratio of 1.08 and a beta of 0.44. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03. The company has a 50 day simple moving average of $137.76 and a two-hundred day simple moving average of $122.45.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Wednesday, July 30th. The mining company reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.11. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the prior year, the company earned $1.07 earnings per share. The firm’s revenue was up 35.6% on a year-over-year basis. On average, research analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Analysts Set New Price Targets

AEM has been the topic of a number of research analyst reports. CIBC restated an “outperform” rating on shares of Agnico Eagle Mines in a research report on Tuesday, July 15th. TD Securities upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Thursday, July 17th. Lake Street Capital restated a “buy” rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. Raymond James Financial upgraded shares of Agnico Eagle Mines to a “moderate buy” rating and set a $130.00 price objective on the stock in a research report on Monday, June 30th. Finally, UBS Group increased their price objective on shares of Agnico Eagle Mines from $125.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday. Five equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $141.40.

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.