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

Maryland State Retirement & Pension System trimmed its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 5.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AEM. Royal Bank Of Canada lowered their price target on Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 9th. Jefferies Financial Group upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating and upped their price objective for the company from $187.00 to $200.00 in a report on Monday, July 6th. Barclays decreased their target price on Agnico Eagle Mines from $213.00 to $210.00 and set an “overweight” rating for the company in a research note on Monday, July 6th. JPMorgan Chase & Co. lifted their target price on Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Finally, Scotia dropped their price target on shares of Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 3rd. Twelve research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $236.77.

Agnico Eagle Mines Trading Up 0.5%

NYSE:AEM opened at $144.29 on Wednesday. The company has a quick ratio of 2.18, a current ratio of 3.15 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a 1-year low of $116.83 and a 1-year high of $255.24. 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 stock has a fifty 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 issued its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.21. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.Agnico Eagle Mines’s revenue was up 66.1% on a year-over-year basis. During the same quarter last year, the business posted $1.53 EPS. Sell-side analysts forecast that Agnico Eagle Mines Limited will post 12.44 earnings per share for the current year.

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.