Agnico Eagle Mines’s “Sector Outperform” Rating Reaffirmed at Scotiabank (AEM)

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Agnico Eagle Mines (NYSE:AEM)‘s stock had its “sector outperform” rating reaffirmed by investment analysts at Scotiabank in a note issued to investors on Friday, ARN reports.

Agnico Eagle Mines (NYSE:AEM) traded up 9.19% on Friday, hitting $32.31. The stock had a trading volume of 4,632,750 shares. Agnico Eagle Mines has a one year low of $23.77 and a one year high of $35.46. The stock has a 50-day moving average of $30.6 and a 200-day moving average of $29.4. The company’s market cap is $5.620 billion.

Agnico Eagle Mines (NYSE:AEM) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.41. The company had revenue of $491.00 million for the quarter, compared to the consensus estimate of $438.30 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, analysts predict that Agnico Eagle Mines will post $0.65 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Thursday, May 29th.

AEM has been the subject of a number of other recent research reports. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Agnico Eagle Mines in a research note on Friday. They now have a $41.00 price target on the stock. Separately, analysts at HSBC cut their price target on shares of Agnico Eagle Mines from $33.30 to $31.40 in a research note on Thursday, April 24th. Finally, analysts at Dundee Securities upgraded shares of Agnico Eagle Mines from a “neutral” rating to a “buy” rating in a research note on Thursday, April 24th. They now have a $42.00 price target on the stock, up previously from $40.00. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Agnico Eagle Mines presently has an average rating of “Buy” and an average price target of $36.37.

Agnico Eagle Mines Limited (NYSE:AEM) is a Canada-based international gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut and exploration activities in Canada, Europe, Latin America and the United States.

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