Agnico Eagle Mines Limited (NYSE:AEM) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 16.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm 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 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of AEM. Bruce G. Allen Investments LLC acquired a new position in shares of Agnico Eagle Mines during the 4th quarter valued at about $33,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Agnico Eagle Mines during the third quarter worth $34,000. CVA Family Office LLC acquired a new stake in Agnico Eagle Mines in the 4th quarter worth $36,000. Anchor Investment Management LLC bought a new position in shares of Agnico Eagle Mines during the 4th quarter worth about $55,000. Finally, Assetmark Inc. acquired a new position in shares of Agnico Eagle Mines during the third quarter valued at about $87,000. Institutional investors own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AEM. CIBC boosted their price target on Agnico Eagle Mines from $80.00 to $81.00 and gave the company an “outperform” rating in a research note on Tuesday, April 30th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. Citigroup increased their target price on Agnico Eagle Mines from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. TD Securities boosted their price target on Agnico Eagle Mines from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Finally, Jefferies Financial Group increased their price objective on Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.63.

Agnico Eagle Mines Price Performance

AEM traded up $1.10 during midday trading on Monday, hitting $66.14. The company had a trading volume of 3,484,770 shares, compared to its average volume of 3,278,502. Agnico Eagle Mines Limited has a twelve month low of $43.22 and a twelve month high of $67.80. The company has a market capitalization of $32.98 billion, a PE ratio of 68.46, a P/E/G ratio of 0.76 and a beta of 1.04. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 2.21. The firm’s 50-day simple moving average is $58.51 and its 200-day simple moving average is $53.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.16. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.78 billion. Agnico Eagle Mines had a net margin of 6.79% and a return on equity of 6.09%. Agnico Eagle Mines’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 earnings per share. Equities research analysts predict that Agnico Eagle Mines Limited will post 3.23 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a dividend of $0.40 per share. 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 168.42%.

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.