Maryland State Retirement & Pension System purchased a new stake in Agnico Eagle Mines Limited (NYSE:AEM – Free Report) (TSE:AEM) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 15,192 shares of the mining company’s stock, valued at approximately $774,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AEM. Bank of New York Mellon Corp boosted its holdings in Agnico Eagle Mines by 86.4% in the first quarter. Bank of New York Mellon Corp now owns 540,450 shares of the mining company’s stock valued at $33,097,000 after purchasing an additional 250,445 shares in the last quarter. US Bancorp DE boosted its holdings in Agnico Eagle Mines by 108.6% in the first quarter. US Bancorp DE now owns 4,420 shares of the mining company’s stock valued at $270,000 after purchasing an additional 2,301 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Agnico Eagle Mines by 37.6% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,795 shares of the mining company’s stock valued at $171,000 after buying an additional 764 shares during the last quarter. Natixis Advisors L.P. purchased a new stake in Agnico Eagle Mines in the first quarter valued at approximately $678,000. Finally, BlackRock Inc. lifted its stake in Agnico Eagle Mines by 44.0% in the first quarter. BlackRock Inc. now owns 364,215 shares of the mining company’s stock valued at $22,304,000 after buying an additional 111,208 shares during the last quarter. 55.54% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on AEM. StockNews.com began coverage on Agnico Eagle Mines in a research note on Thursday, May 18th. They issued a “hold” rating for the company. BMO Capital Markets began coverage on Agnico Eagle Mines in a research note on Monday, April 3rd. They issued an “outperform” rating for the company. Barclays boosted their price objective on Agnico Eagle Mines from $62.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, April 21st. Finally, Scotiabank assumed coverage on Agnico Eagle Mines in a research note on Monday, April 3rd. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $70.63.
Agnico Eagle Mines Price Performance
Agnico Eagle Mines (NYSE:AEM – Free Report) (TSE:AEM) last released its quarterly earnings data on Thursday, April 27th. The mining company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.07. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Agnico Eagle Mines had a return on equity of 6.07% and a net margin of 40.12%. Equities analysts predict that Agnico Eagle Mines Limited will post 2.36 earnings per share for the current year.
Agnico Eagle Mines Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend was Wednesday, May 31st. Agnico Eagle Mines’s payout ratio is 31.50%.
Agnico Eagle Mines Profile
Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. 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.
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