Agnico Eagle Mines Limited $AEM Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System reduced its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 5.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 125,320 shares of the mining company’s stock after selling 7,393 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Agnico Eagle Mines were worth $25,443,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Acumen Wealth Advisors LLC bought a new position in Agnico Eagle Mines in the fourth quarter worth about $26,000. Lodestone Wealth Management LLC acquired a new position in Agnico Eagle Mines in the fourth quarter valued at approximately $35,000. Jessup Wealth Management Inc bought a new position in shares of Agnico Eagle Mines during the fourth quarter valued at approximately $35,000. Abound Wealth Management grew its holdings in shares of Agnico Eagle Mines by 99.0% during the fourth quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock valued at $35,000 after purchasing an additional 104 shares during the last quarter. Finally, Bangor Savings Bank acquired a new stake in shares of Agnico Eagle Mines during the 4th quarter worth approximately $37,000. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $144.29 on Wednesday. Agnico Eagle Mines Limited has a 12-month low of $116.83 and a 12-month high of $255.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18. The firm has a market capitalization of $73.24 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 1.88 and a beta of 0.60. The business has a 50 day simple moving average of $168.50 and a 200 day simple moving average of $192.40.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the previous year, the business earned $1.53 EPS. The firm’s revenue for the quarter was up 66.1% on a year-over-year basis. On average, equities research analysts anticipate that Agnico Eagle Mines Limited will post 12.44 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AEM. Bank of America cut their price target on Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Erste Group Bank downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Scotiabank dropped their target price on Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating on the stock in a research report on Tuesday. Zacks Research cut Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Finally, Jefferies Financial Group raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and boosted their price target for the company from $187.00 to $200.00 in a report on Monday, July 6th. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $236.77.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.