Maryland State Retirement & Pension System Decreases Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Maryland State Retirement & Pension System decreased its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 16.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 135,808 shares of the mining company’s stock after selling 27,537 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Agnico Eagle Mines were worth $7,450,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Private Advisor Group LLC grew its stake in shares of Agnico Eagle Mines by 111.9% during the 4th quarter. Private Advisor Group LLC now owns 10,116 shares of the mining company’s stock valued at $555,000 after acquiring an additional 5,342 shares during the period. Metis Global Partners LLC lifted its position in shares of Agnico Eagle Mines by 11.8% in the fourth quarter. Metis Global Partners LLC now owns 40,879 shares of the mining company’s stock valued at $2,241,000 after acquiring an additional 4,306 shares in the last quarter. Royal Fund Management LLC raised its position in shares of Agnico Eagle Mines by 3.2% during the fourth quarter. Royal Fund Management LLC now owns 24,951 shares of the mining company’s stock valued at $1,369,000 after buying an additional 783 shares during the last quarter. Baxter Bros Inc. bought a new stake in shares of Agnico Eagle Mines in the fourth quarter worth about $259,000. Finally, Axxcess Wealth Management LLC purchased a new position in Agnico Eagle Mines during the 4th quarter valued at approximately $263,000. 68.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on AEM. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. CIBC upped their target price on shares of Agnico Eagle Mines from $80.00 to $81.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 30th. Raymond James boosted their price target on Agnico Eagle Mines from $66.00 to $71.00 and gave the company an “outperform” rating in a report on Friday, January 12th. Citigroup increased their target price on Agnico Eagle Mines from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, Jefferies Financial Group increased their price target on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a research report on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $69.63.

Agnico Eagle Mines Price Performance

NYSE:AEM traded up $1.10 during trading hours on Monday, reaching $66.14. 3,484,770 shares of the company were exchanged, compared to its average volume of 3,278,502. The company has a current ratio of 2.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The firm has a market cap of $32.98 billion, a PE ratio of 68.46, a price-to-earnings-growth ratio of 0.76 and a beta of 1.04. Agnico Eagle Mines Limited has a twelve month low of $43.22 and a twelve month high of $67.80. The stock’s 50-day moving average is $58.51 and its 200-day moving average is $53.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Thursday, April 25th. The mining company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.60 by $0.16. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.78 billion. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. Agnico Eagle Mines’s quarterly revenue was up 21.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.57 EPS. On average, sell-side analysts anticipate that Agnico Eagle Mines Limited will post 3.23 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.60 dividend on an annualized basis and a yield of 2.42%. Agnico Eagle Mines’s payout ratio is currently 168.42%.

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.