Agnico Eagle Mines Limited (NYSE:AEM) Position Lessened by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 23.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,564 shares of the mining company’s stock after selling 10,968 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Agnico Eagle Mines were worth $2,865,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of AEM. Manning & Napier Advisors LLC acquired a new position in Agnico Eagle Mines during the second quarter worth $2,595,000. Tidal Investments LLC increased its position in Agnico Eagle Mines by 87.8% during the first quarter. Tidal Investments LLC now owns 20,598 shares of the mining company’s stock worth $1,195,000 after buying an additional 9,628 shares during the last quarter. M&G Plc acquired a new position in Agnico Eagle Mines during the second quarter worth $1,802,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Agnico Eagle Mines during the second quarter worth $7,084,000. Finally, Gunderson Capital Management Inc. acquired a new position in Agnico Eagle Mines during the third quarter worth $3,583,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Up 4.2 %

NYSE AEM opened at $80.01 on Tuesday. The stock has a market cap of $40.17 billion, a PE ratio of 40.01, a PEG ratio of 0.67 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 1.75. Agnico Eagle Mines Limited has a twelve month low of $44.37 and a twelve month high of $89.00. The firm has a 50-day simple moving average of $82.47 and a 200 day simple moving average of $75.60.

Wall Street Analysts Forecast Growth

AEM has been the topic of several analyst reports. TD Securities increased their target price on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. UBS Group began coverage on Agnico Eagle Mines in a research report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price target on the stock. Scotiabank raised their price target on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Jefferies Financial Group raised their price target on Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Finally, Royal Bank of Canada raised their price target on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.78.

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.