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

Maryland State Retirement & Pension System grew its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 5.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 59,655 shares of the mining company’s stock after buying an additional 3,030 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Agnico Eagle Mines were worth $10,922,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Silver Grove Financial Group Inc. raised its holdings in shares of Agnico Eagle Mines by 17.6% during the third quarter. Silver Grove Financial Group Inc. now owns 501 shares of the mining company’s stock valued at $92,000 after acquiring an additional 75 shares in the last quarter. Philadelphia Trust Co. lifted its stake in Agnico Eagle Mines by 23.4% in the third quarter. Philadelphia Trust Co. now owns 4,481 shares of the mining company’s stock worth $821,000 after acquiring an additional 850 shares during the period. Keybank National Association OH lifted its stake in Agnico Eagle Mines by 14.5% in the third quarter. Keybank National Association OH now owns 8,449 shares of the mining company’s stock worth $1,548,000 after acquiring an additional 1,073 shares during the period. Nemes Rush Group LLC boosted its holdings in Agnico Eagle Mines by 11.2% in the third quarter. Nemes Rush Group LLC now owns 2,193 shares of the mining company’s stock valued at $402,000 after acquiring an additional 220 shares in the last quarter. Finally, AlphaCore Capital LLC boosted its holdings in Agnico Eagle Mines by 12.1% in the third quarter. AlphaCore Capital LLC now owns 11,997 shares of the mining company’s stock valued at $2,199,000 after acquiring an additional 1,297 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Down 2.4%

Shares of NYSE:AEM opened at $185.93 on Thursday. Agnico Eagle Mines Limited has a 52-week low of $134.38 and a 52-week high of $255.24. The firm has a market capitalization of $94.06 billion, a P/E ratio of 15.17, a P/E/G ratio of 2.90 and a beta of 0.69. The stock has a 50 day moving average price of $188.46 and a 200-day moving average price of $188.68. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.90 and a current ratio of 2.75.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Wednesday, October 28th. The mining company reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.15. Agnico Eagle Mines had a return on equity of 21.68% and a net margin of 41.01%. The company had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same quarter last year, the business posted $2.10 EPS. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Agnico Eagle Mines Limited will post 11.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AEM. Raymond James Financial reduced their price objective on shares of Agnico Eagle Mines from $230.00 to $225.00 and set an “outperform” rating on the stock in a research report on Friday, September 4th. RBC Dominion Securities set a $225.00 target price on shares of Agnico Eagle Mines and gave the stock a “sector perform” rating in a research report on Thursday, October 22nd. Citigroup cut their target price on shares of Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, July 27th. Royal Bank Of Canada lifted their target price on shares of Agnico Eagle Mines from $210.00 to $225.00 and gave the company a “sector perform” rating in a research note on Wednesday, September 16th. Finally, Weiss Ratings upgraded shares of Agnico Eagle Mines from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, October 14th. Thirteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $227.00.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited (NYSE:AEM) is a Canadian gold mining company engaged in the exploration, development and production of gold, as well as related activities such as mineral processing and mine-site reclamation. The company’s principal product is gold, with silver and other byproducts also recovered from certain operations. Founded in 1957 through the merger of Agnico Mines and Eagle Mines, Agnico Eagle has grown into one of the world’s largest gold producers. Its operating portfolio is concentrated in established mining regions, including the Canadian provinces of Ontario and Quebec, Nunavut in northern Canada, and Finland.