Agnico Eagle Mines Limited Plans Dividend of $0.40 (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) declared a dividend on Wednesday, August 27th, investing.com reports. Shareholders of record on Wednesday, September 3rd will be given a dividend of 0.40 per share by the mining company on Monday, September 15th. This represents a yield of 120.0%. The ex-dividend date is Tuesday, September 2nd.

Agnico Eagle Mines has a payout ratio of 24.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Agnico Eagle Mines to earn $4.28 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 37.4%.

Agnico Eagle Mines Price Performance

AEM opened at $139.53 on Thursday. The business’s 50-day moving average is $126.30 and its two-hundred day moving average is $115.42. Agnico Eagle Mines has a 1 year low of $75.17 and a 1 year high of $139.80. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16. The firm has a market capitalization of $70.16 billion, a PE ratio of 23.73, a price-to-earnings-growth ratio of 0.96 and a beta of 0.44.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.11. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the previous year, the firm earned $1.07 earnings per share. The company’s revenue was up 35.6% on a year-over-year basis. Research analysts anticipate that Agnico Eagle Mines will post 4.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Ameritas Advisory Services LLC acquired a new position in Agnico Eagle Mines in the second quarter valued at approximately $25,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in Agnico Eagle Mines in the first quarter valued at approximately $26,000. Cary Street Partners Investment Advisory LLC acquired a new position in Agnico Eagle Mines in the first quarter valued at approximately $26,000. Twin Peaks Wealth Advisors LLC acquired a new position in Agnico Eagle Mines in the second quarter valued at approximately $29,000. Finally, Private Trust Co. NA lifted its holdings in Agnico Eagle Mines by 454.9% in the first quarter. Private Trust Co. NA now owns 283 shares of the mining company’s stock valued at $31,000 after acquiring an additional 232 shares during the period. 68.34% of the stock is owned by institutional investors and hedge funds.

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.