Agnico Eagle Mines Limited (NYSE:AEM) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have earned an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $69.63.

Several research analysts have recently commented on AEM shares. CIBC lifted their target price on Agnico Eagle Mines from $80.00 to $81.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 30th. Citigroup lifted their target price on Agnico Eagle Mines from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Jefferies Financial Group lifted their target price on Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. Raymond James lifted their target price on Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “outperform” rating in a research report on Friday, January 12th. Finally, National Bank Financial reiterated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $66.28 on Friday. Agnico Eagle Mines has a fifty-two week low of $43.22 and a fifty-two week high of $67.80. The business has a 50 day moving average price of $59.58 and a two-hundred day moving average price of $53.56. The company has a quick ratio of 0.88, a current ratio of 2.21 and a debt-to-equity ratio of 0.09. The firm has a market cap of $33.05 billion, a PE ratio of 69.77, a price-to-earnings-growth ratio of 0.76 and a beta of 1.04.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Thursday, April 25th. The mining company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.16. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the firm earned $0.57 EPS. Agnico Eagle Mines’s quarterly revenue was up 21.2% on a year-over-year basis. Sell-side analysts expect that Agnico Eagle Mines will post 3.23 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a dividend of $0.40 per share. The ex-dividend date is Friday, May 31st. This represents a $1.60 dividend on an annualized basis and a yield of 2.41%. Agnico Eagle Mines’s dividend payout ratio is currently 168.42%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AEM. AE Wealth Management LLC bought a new stake in Agnico Eagle Mines during the 3rd quarter valued at $231,000. Commonwealth Equity Services LLC raised its stake in Agnico Eagle Mines by 4.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 83,299 shares of the mining company’s stock valued at $3,786,000 after acquiring an additional 3,519 shares in the last quarter. Raymond James & Associates raised its stake in Agnico Eagle Mines by 7.5% during the 3rd quarter. Raymond James & Associates now owns 315,658 shares of the mining company’s stock valued at $14,347,000 after acquiring an additional 22,019 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Agnico Eagle Mines by 1.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 664,133 shares of the mining company’s stock valued at $30,185,000 after acquiring an additional 6,919 shares in the last quarter. Finally, Forsta AP Fonden raised its stake in Agnico Eagle Mines by 0.9% during the 3rd quarter. Forsta AP Fonden now owns 106,500 shares of the mining company’s stock valued at $4,862,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

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.