Agnico Eagle Mines Limited (NYSE:AEM) Given Average Rating of “Buy” by Analysts

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have received a consensus recommendation of “Buy” from the twelve brokerages that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and four have given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $124.40.

A number of equities research analysts have recently commented on AEM shares. Scotiabank reaffirmed an “outperform” rating on shares of Agnico Eagle Mines in a research note on Monday, April 14th. National Bank Financial upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Friday, March 21st. TD Securities lowered their price objective on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. UBS Group increased their target price 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. Finally, StockNews.com lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th.

Agnico Eagle Mines Price Performance

AEM stock opened at $106.99 on Wednesday. The company has a 50 day simple moving average of $110.21 and a 200 day simple moving average of $95.10. The stock has a market cap of $53.84 billion, a price-to-earnings ratio of 28.30, a P/E/G ratio of 0.66 and a beta of 0.54. Agnico Eagle Mines has a 1 year low of $63.01 and a 1 year high of $126.76. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.86 and a quick ratio of 0.86.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Thursday, April 24th. The mining company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.14. Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. The firm had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the prior year, the company posted $0.76 EPS. The company’s revenue was up 34.9% on a year-over-year basis. Research analysts anticipate that Agnico Eagle Mines will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.60 dividend on an annualized basis and a yield of 1.50%. Agnico Eagle Mines’s dividend payout ratio is presently 34.04%.

Hedge Funds Weigh In On Agnico Eagle Mines

Large investors have recently modified their holdings of the company. Jones Financial Companies Lllp boosted its position in shares of Agnico Eagle Mines by 78.3% in the fourth quarter. Jones Financial Companies Lllp now owns 3,259 shares of the mining company’s stock valued at $255,000 after acquiring an additional 1,431 shares during the period. Caldwell Investment Management Ltd. grew its holdings in shares of Agnico Eagle Mines by 12.0% in the fourth quarter. Caldwell Investment Management Ltd. now owns 87,700 shares of the mining company’s stock worth $6,812,000 after purchasing an additional 9,400 shares during the last quarter. Forsta AP Fonden grew its holdings in shares of Agnico Eagle Mines by 8.9% in the fourth quarter. Forsta AP Fonden now owns 195,100 shares of the mining company’s stock worth $15,256,000 after purchasing an additional 16,000 shares during the last quarter. Resonant Capital Advisors LLC bought a new position in shares of Agnico Eagle Mines in the fourth quarter worth approximately $208,000. Finally, US Bancorp DE boosted its holdings in Agnico Eagle Mines by 2.7% in the fourth quarter. US Bancorp DE now owns 6,770 shares of the mining company’s stock valued at $529,000 after acquiring an additional 175 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors.

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.