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

Maryland State Retirement & Pension System grew its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,180 shares of the mining company's stock after purchasing an additional 5,160 shares during the period. Maryland State Retirement & Pension System's holdings in Agnico Eagle Mines were worth $8,773,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of AEM. Versant Capital Management Inc purchased a new stake in shares of Agnico Eagle Mines during the fourth quarter worth $26,000. Smartleaf Asset Management LLC raised its holdings in shares of Agnico Eagle Mines by 859.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company's stock worth $28,000 after acquiring an additional 318 shares in the last quarter. Decker Retirement Planning Inc. purchased a new stake in shares of Agnico Eagle Mines during the fourth quarter worth $29,000. Fifth Third Bancorp raised its holdings in shares of Agnico Eagle Mines by 176.9% during the fourth quarter. Fifth Third Bancorp now owns 407 shares of the mining company's stock worth $32,000 after acquiring an additional 260 shares in the last quarter. Finally, Duncker Streett & Co. Inc. raised its holdings in shares of Agnico Eagle Mines by 37.3% during the fourth quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company's stock worth $32,000 after acquiring an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company's stock.

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Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. StockNews.com lowered Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th. Jefferies Financial Group increased their price objective on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a "hold" rating in a report on Tuesday, January 7th. Raymond James set a $105.00 target price on shares of Agnico Eagle Mines and gave the stock an "outperform" rating in a research report on Tuesday, February 4th. Royal Bank of Canada increased their target price on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 11th. Finally, Stifel Canada raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $95.78.

Agnico Eagle Mines Stock Performance

Shares of NYSE:AEM traded down $1.08 during midday trading on Friday, hitting $104.33. The company's stock had a trading volume of 2,190,397 shares, compared to its average volume of 2,324,568. The stock has a market capitalization of $52.48 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 0.66 and a beta of 1.00. The stock's 50 day simple moving average is $95.77 and its 200 day simple moving average is $86.88. Agnico Eagle Mines Limited has a fifty-two week low of $55.98 and a fifty-two week high of $107.88. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. As a group, 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 declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Friday, February 28th. Agnico Eagle Mines's dividend payout ratio is currently 42.33%.

About Agnico Eagle Mines

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.