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

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

Other hedge funds also recently made changes to their positions in the company. DAVENPORT & Co LLC bought a new position in shares of Agnico Eagle Mines during the first quarter worth about $226,000. Bank of New York Mellon Corp raised its position in shares of Agnico Eagle Mines by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 485,317 shares of the mining company’s stock worth $52,613,000 after acquiring an additional 5,717 shares during the last quarter. Private Trust Co. NA raised its position in shares of Agnico Eagle Mines by 454.9% during the first quarter. Private Trust Co. NA now owns 283 shares of the mining company’s stock worth $31,000 after acquiring an additional 232 shares during the last quarter. Golden State Wealth Management LLC bought a new position in shares of Agnico Eagle Mines during the first quarter worth about $34,000. Finally, OneDigital Investment Advisors LLC bought a new stake in Agnico Eagle Mines in the first quarter worth approximately $234,000. 68.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AEM. National Bankshares reiterated an “outperform” rating on shares of Agnico Eagle Mines in a report on Tuesday, June 24th. CIBC reiterated an “outperform” rating on shares of Agnico Eagle Mines in a report on Tuesday, July 15th. UBS Group lifted their target price on Agnico Eagle Mines from $125.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, September 19th. Raymond James Financial upgraded Agnico Eagle Mines to a “moderate buy” rating and set a $130.00 target price for the company in a report on Monday, June 30th. Finally, TD Securities lifted their target price on Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday. Six analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines has an average rating of “Buy” and an average target price of $150.30.

Agnico Eagle Mines Trading Up 2.0%

NYSE AEM opened at $169.63 on Thursday. The company has a market cap of $85.29 billion, a price-to-earnings ratio of 28.85, a P/E/G ratio of 1.11 and a beta of 0.46. Agnico Eagle Mines Limited has a 52 week low of $75.17 and a 52 week high of $172.21. The business has a 50 day moving average price of $148.04 and a 200-day moving average price of $127.40. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.83 by $0.11. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.46 billion. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The company’s quarterly revenue was up 35.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.07 earnings per share. As a group, equities analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal 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.