Sumitomo Mitsui Trust Group Inc. Grows Stock Position in Agnico Eagle Mines Limited $AEM

Key Points

• Sumitomo Mitsui Trust Group boosted its stake in Agnico Eagle by 42.9% in Q4, buying 19,647 shares to hold 65,404 shares worth about $11.09 million, and institutional investors now own 68.34% of the stock.
• Agnico Eagle beat quarterly expectations with $2.69 EPS and revenue of $3.53 billion (up 60.3% YoY), and raised its quarterly dividend to $0.45 (annualized $1.80, ~0.8% yield).
• The stock trades around $220.23 with a market cap of $110.34 billion, a P/E of 24.8, and an analyst consensus of “Moderate Buy” with a $237.30 price target.

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 42.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,404 shares of the mining company's stock after purchasing an additional 19,647 shares during the quarter. Sumitomo Mitsui Trust Group Inc.'s holdings in Agnico Eagle Mines were worth $11,088,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AEM. Brighton Jones LLC increased its stake in shares of Agnico Eagle Mines by 11.5% during the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company's stock worth $252,000 after acquiring an additional 331 shares during the period. AQR Capital Management LLC boosted its holdings in Agnico Eagle Mines by 36.4% in the 1st quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company's stock valued at $2,150,000 after purchasing an additional 5,293 shares in the last quarter. Sivia Capital Partners LLC increased its position in Agnico Eagle Mines by 57.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company's stock worth $379,000 after purchasing an additional 1,160 shares during the period. Rhumbline Advisers raised its stake in shares of Agnico Eagle Mines by 8.0% during the 2nd quarter. Rhumbline Advisers now owns 1,810 shares of the mining company's stock worth $215,000 after buying an additional 134 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Agnico Eagle Mines by 25.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 929 shares of the mining company's stock valued at $110,000 after buying an additional 187 shares during the period. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Trading Up 2.5%

Shares of AEM stock opened at $220.23 on Friday. The stock has a market cap of $110.34 billion, a P/E ratio of 24.80 and a beta of 0.71. The company has a quick ratio of 1.33, a current ratio of 2.02 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a fifty-two week low of $103.38 and a fifty-two week high of $255.24. The business has a fifty day simple moving average of $214.87 and a 200-day simple moving average of $189.87.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 EPS for the quarter, topping the consensus estimate of $2.56 by $0.13. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.09%. The business had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same period in the previous year, the firm earned $1.26 EPS. The business's revenue for the quarter was up 60.3% compared to the same quarter last year. On average, analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 0.8%. This is a boost from Agnico Eagle Mines's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, March 2nd. Agnico Eagle Mines's payout ratio is currently 20.27%.

Wall Street Analysts Forecast Growth

AEM has been the topic of a number of recent analyst reports. Erste Group Bank lowered Agnico Eagle Mines from a "buy" rating to a "hold" rating in a report on Tuesday, March 24th. UBS Group cut their price target on shares of Agnico Eagle Mines from $240.00 to $210.00 and set a "neutral" rating for the company in a report on Friday, March 27th. Raymond James Financial reissued an "outperform" rating and set a $225.00 price objective on shares of Agnico Eagle Mines in a report on Wednesday, January 14th. JPMorgan Chase & Co. dropped their target price on shares of Agnico Eagle Mines from $248.00 to $235.00 and set a "neutral" rating for the company in a report on Wednesday, February 18th. Finally, Scotiabank reiterated an "outperform" rating and set a $280.00 price target on shares of Agnico Eagle Mines in a research report on Tuesday, February 17th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, Agnico Eagle Mines currently has an average rating of "Moderate Buy" and a consensus price target of $237.30.

About Agnico Eagle Mines

Agnico Eagle Mines Limited NYSE: AEM is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.

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