Agnico Eagle Mines Limited (NYSE:AEM) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. lowered its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,733 shares of the mining company’s stock after selling 158 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Agnico Eagle Mines were worth $462,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AEM. Continuum Advisory LLC raised its position in Agnico Eagle Mines by 1,134.4% during the 2nd quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock worth $26,000 after buying an additional 363 shares during the last quarter. Stephens Consulting LLC purchased a new position in shares of Agnico Eagle Mines during the first quarter worth $30,000. Abich Financial Wealth Management LLC purchased a new position in shares of Agnico Eagle Mines during the second quarter worth $32,000. Janiczek Wealth Management LLC lifted its position in Agnico Eagle Mines by 406.4% during the first quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock valued at $42,000 after purchasing an additional 569 shares during the period. Finally, WASHINGTON TRUST Co boosted its holdings in Agnico Eagle Mines by 92.1% in the second quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock valued at $48,000 after purchasing an additional 350 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. UBS Group assumed coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price objective for the company. BMO Capital Markets lowered their price objective on Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, June 20th. Royal Bank of Canada lifted their target price on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. TD Securities increased their price target on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Scotiabank lifted their price objective on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $86.78.

Agnico Eagle Mines Price Performance

Shares of Agnico Eagle Mines stock opened at $82.21 on Friday. The stock has a market capitalization of $41.13 billion, a P/E ratio of 86.54, a PEG ratio of 0.71 and a beta of 1.10. The business has a 50 day simple moving average of $80.58 and a two-hundred day simple moving average of $72.15. Agnico Eagle Mines Limited has a 12 month low of $44.37 and a 12 month high of $85.14. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.51 and a quick ratio of 0.76.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Wednesday, July 31st. The mining company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.14. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the firm posted $0.65 EPS. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. As a group, analysts predict that Agnico Eagle Mines Limited will post 3.88 EPS for the current fiscal year.

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.