Maryland State Retirement & Pension System Sells 3,512 Shares of Agnico Eagle Mines Limited $AEM

Maryland State Retirement & Pension System lowered its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 128,349 shares of the mining company’s stock after selling 3,512 shares during the period. Maryland State Retirement & Pension System’s holdings in Agnico Eagle Mines were worth $15,303,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Ameritas Advisory Services LLC bought a new position in shares of Agnico Eagle Mines in the second quarter worth $25,000. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Agnico Eagle Mines in the first quarter worth $26,000. Cary Street Partners Investment Advisory LLC bought a new position in shares of Agnico Eagle Mines in the first quarter worth $26,000. Private Trust Co. NA increased its position in shares of Agnico Eagle Mines by 454.9% in the first quarter. Private Trust Co. NA now owns 283 shares of the mining company’s stock worth $31,000 after purchasing an additional 232 shares during the period. Finally, Golden State Wealth Management LLC bought a new position in shares of Agnico Eagle Mines in the first quarter worth $34,000. Institutional investors own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. National Bankshares restated an “outperform” rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Agnico Eagle Mines in a research note on Wednesday. Raymond James Financial raised Agnico Eagle Mines to a “moderate buy” rating and set a $130.00 price objective on the stock in a research note on Monday, June 30th. UBS Group raised their price objective on Agnico Eagle Mines from $125.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, September 19th. Finally, CIBC reaffirmed an “outperform” rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. Six research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $150.30.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $169.63 on Thursday. The business’s 50-day moving average price is $148.04 and its 200-day moving average price is $127.40. Agnico Eagle Mines Limited has a 12 month low of $75.17 and a 12 month high of $172.21. The firm has a market capitalization of $85.29 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 1.11 and a beta of 0.46. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.11. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period last year, the firm posted $1.07 earnings per share. The business’s revenue for the quarter was up 35.6% on a year-over-year basis. Equities research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Company 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.