Maryland State Retirement & Pension System Has $14.28 Million Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Key Points

• Maryland State Retirement & Pension System increased its stake in Agnico Eagle Mines by 17.5%, now holding $14.28 million in stock, representing 131,861 shares.
• Agnico Eagle Mines reported earnings per share (EPS) of $1.94 for the last quarter, surpassing analyst estimates of $1.83, with revenue rising 35.6% year-over-year.
• The company has a dividend yield of 136.0%, with a recent quarterly dividend of $0.40 per share, reflecting a dividend payout ratio of 27.21%.

Maryland State Retirement & Pension System grew its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 17.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,861 shares of the mining company's stock after purchasing an additional 19,681 shares during the quarter. Maryland State Retirement & Pension System's holdings in Agnico Eagle Mines were worth $14,283,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Capital World Investors increased its position in Agnico Eagle Mines by 41.9% during the fourth quarter. Capital World Investors now owns 13,952,061 shares of the mining company's stock worth $1,091,550,000 after acquiring an additional 4,121,164 shares during the period. Massachusetts Financial Services Co. MA increased its position in Agnico Eagle Mines by 3.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 13,441,198 shares of the mining company's stock worth $1,457,160,000 after acquiring an additional 499,362 shares during the period. Deutsche Bank AG increased its position in Agnico Eagle Mines by 0.7% during the fourth quarter. Deutsche Bank AG now owns 11,916,739 shares of the mining company's stock worth $932,008,000 after acquiring an additional 87,410 shares during the period. TD Asset Management Inc increased its holdings in Agnico Eagle Mines by 42.8% in the 1st quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company's stock valued at $978,553,000 after buying an additional 2,709,005 shares during the period. Finally, Nuveen Asset Management LLC increased its holdings in Agnico Eagle Mines by 10.7% in the 4th quarter. Nuveen Asset Management LLC now owns 1,027,009 shares of the mining company's stock valued at $80,316,000 after buying an additional 99,148 shares during the period. Institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $135.45 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03. Agnico Eagle Mines Limited has a twelve month low of $71.93 and a twelve month high of $135.97. The firm's 50 day moving average price is $122.08 and its two-hundred day moving average price is $110.97. The firm has a market cap of $68.11 billion, a P/E ratio of 23.04, a PEG ratio of 0.93 and a beta of 0.44.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.11. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period last year, the company earned $1.07 earnings per share. The firm's revenue was up 35.6% compared to the same quarter last year. On average, analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.40 dividend. The ex-dividend date was Friday, May 30th. This represents a dividend yield of 136.0%. Agnico Eagle Mines's dividend payout ratio (DPR) is 27.21%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AEM shares. UBS Group boosted their price target on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, April 11th. Cfra Research upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Friday, April 25th. Lake Street Capital reiterated a "buy" rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. BMO Capital Markets initiated coverage on shares of Agnico Eagle Mines in a research report on Wednesday, April 16th. They set an "outperform" rating and a $181.00 price target on the stock. Finally, CIBC restated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, July 15th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $136.90.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.