Maryland State Retirement & Pension System Has $8.77 Million Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Maryland State Retirement & Pension System raised its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 4.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 112,180 shares of the mining company’s stock after acquiring an additional 5,160 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Agnico Eagle Mines were worth $8,773,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in shares of Agnico Eagle Mines by 1.4% in the third quarter. Principal Financial Group Inc. now owns 21,822 shares of the mining company’s stock valued at $1,760,000 after acquiring an additional 302 shares during the last quarter. Atria Investments Inc bought a new position in Agnico Eagle Mines in the third quarter valued at approximately $239,000. Empowered Funds LLC increased its position in shares of Agnico Eagle Mines by 3.0% during the 3rd quarter. Empowered Funds LLC now owns 43,464 shares of the mining company’s stock worth $3,501,000 after purchasing an additional 1,251 shares during the last quarter. Natixis Advisors LLC raised its stake in shares of Agnico Eagle Mines by 8.9% during the 3rd quarter. Natixis Advisors LLC now owns 86,621 shares of the mining company’s stock worth $6,978,000 after purchasing an additional 7,099 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Agnico Eagle Mines by 0.6% in the 3rd quarter. Swiss National Bank now owns 1,506,558 shares of the mining company’s stock valued at $121,558,000 after buying an additional 9,400 shares during the last quarter. 68.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on AEM shares. StockNews.com lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Scotiabank raised their target price on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. Royal Bank of Canada boosted their price target on Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. TD Securities dropped their price objective on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Finally, Raymond James set a $105.00 target price on Agnico Eagle Mines and gave the stock an “outperform” rating in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $95.78.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $105.83 on Wednesday. The stock has a 50 day simple moving average of $94.49 and a 200 day simple moving average of $86.40. The stock has a market cap of $53.23 billion, a P/E ratio of 28.00, a PEG ratio of 0.66 and a beta of 1.00. Agnico Eagle Mines Limited has a 1-year low of $54.02 and a 1-year high of $107.88. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. Research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend was Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio is currently 42.33%.

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.