Sumitomo Mitsui Trust Holdings Inc. raised its stake in Agnico Eagle Mines Ltd. (NYSE:AEM) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 762,976 shares of the mining company’s stock after buying an additional 13,622 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.35% of Agnico Eagle Mines worth $40,644,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Fruth Investment Management purchased a new position in Agnico Eagle Mines during the second quarter valued at approximately $251,000. USA Mutuals Advisors Inc. purchased a new position in Agnico Eagle Mines during the first quarter valued at approximately $181,000. Bayesian Capital Management LP purchased a new position in Agnico Eagle Mines during the first quarter valued at approximately $262,000. Syntal Capital Partners LLC purchased a new position in Agnico Eagle Mines during the second quarter valued at approximately $396,000. Finally, Canada Pension Plan Investment Board purchased a new position in Agnico Eagle Mines during the first quarter valued at approximately $270,000. Hedge funds and other institutional investors own 62.03% of the company’s stock.

Institutional Ownership by Quarter for Agnico Eagle Mines (NYSE:AEM)

Shares of Agnico Eagle Mines Ltd. (NYSE:AEM) traded up 3.99% during midday trading on Tuesday, hitting $48.01. 2,945,816 shares of the company traded hands. The stock has a market capitalization of $10.73 billion, a P/E ratio of 331.10 and a beta of -0.84. Agnico Eagle Mines Ltd. has a 12-month low of $24.80 and a 12-month high of $60.10. The stock’s 50-day moving average is $51.18 and its 200 day moving average is $49.97.

Agnico Eagle Mines (NYSE:AEM) last announced its earnings results on Thursday, July 28th. The mining company reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.06. Agnico Eagle Mines had a net margin of 1.61% and a return on equity of 1.88%. The company earned $537.60 million during the quarter, compared to the consensus estimate of $507.37 million. During the same period in the previous year, the firm posted $0.09 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. On average, analysts expect that Agnico Eagle Mines Ltd. will post $0.67 earnings per share for the current year.

AEM has been the subject of several recent analyst reports. HSBC restated a “buy” rating on shares of Agnico Eagle Mines in a research report on Thursday, July 7th. Desjardins upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research report on Wednesday, July 13th. Dundee Securities cut shares of Agnico Eagle Mines from a “buy” rating to a “neutral” rating in a research report on Thursday, July 14th. Zacks Investment Research upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research report on Monday, July 18th. Finally, TD Securities restated a “hold” rating and issued a $56.00 target price on shares of Agnico Eagle Mines in a research report on Monday, July 25th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. Agnico Eagle Mines presently has a consensus rating of “Hold” and a consensus target price of $53.05.

About Agnico Eagle Mines

Agnico Eagle Mines Limited is a gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut and exploration activities in Canada, Europe, Latin America and the United States. The Company operates through three business units. The Northern Business consists of its operations in Canada and Finland.

5 Day Chart for NYSE:AEM

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