Sumitomo Mitsui Trust Group Inc. Lowers Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Sumitomo Mitsui Trust Group Inc. lowered its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 13.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,870 shares of the mining company's stock after selling 4,694 shares during the period. Sumitomo Mitsui Trust Group Inc.'s holdings in Agnico Eagle Mines were worth $2,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of AEM. FMR LLC raised its stake in shares of Agnico Eagle Mines by 43.5% during the third quarter. FMR LLC now owns 15,061,244 shares of the mining company's stock valued at $1,213,311,000 after acquiring an additional 4,562,005 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Agnico Eagle Mines by 16.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,892,898 shares of the mining company's stock valued at $474,660,000 after buying an additional 817,240 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Agnico Eagle Mines by 262.5% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,060,402 shares of the mining company's stock worth $85,413,000 after buying an additional 767,912 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Agnico Eagle Mines by 17.1% in the third quarter. The Manufacturers Life Insurance Company now owns 4,051,140 shares of the mining company's stock worth $326,571,000 after buying an additional 591,178 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in Agnico Eagle Mines by 7.4% in the third quarter. National Bank of Canada FI now owns 4,155,349 shares of the mining company's stock worth $334,749,000 after buying an additional 285,565 shares in the last quarter. Institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Stock Down 5.0 %

Shares of AEM stock traded down $5.06 during trading hours on Monday, reaching $95.75. 4,623,011 shares of the company's stock were exchanged, compared to its average volume of 1,902,290. The stock's 50 day moving average is $86.73 and its 200-day moving average is $83.40. The company has a market cap of $48.09 billion, a price-to-earnings ratio of 47.87, a P/E/G ratio of 0.66 and a beta of 1.10. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a fifty-two week low of $45.75 and a fifty-two week high of $101.45.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 12.86% and a return on equity of 8.88%. Analysts predict that Agnico Eagle Mines Limited will post 4.14 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Friday, February 28th. Agnico Eagle Mines's payout ratio is 80.00%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AEM shares. StockNews.com raised shares of Agnico Eagle Mines from a "buy" rating to a "strong-buy" rating in a research note on Monday. Jefferies Financial Group boosted their price objective on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a "hold" rating in a research note on Tuesday, January 7th. Royal Bank of Canada boosted their price objective on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 11th. Finally, Scotiabank boosted their price objective on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of "Buy" and an average price target of $92.75.

Agnico Eagle Mines Profile

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.