Agnico Eagle Mines Ltd. (NYSE:AEM) Receives Average Rating of “Hold” from Brokerages
Shares of Agnico Eagle Mines Ltd. (NYSE:AEM) have been given a consensus rating of “Hold” by the twenty-two ratings firms that are covering the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $54.06.
Several research firms recently weighed in on AEM. Credit Suisse Group AG restated a “buy” rating on shares of Agnico Eagle Mines in a research note on Saturday, June 4th. HSBC reaffirmed a “buy” rating on shares of Agnico Eagle Mines in a research report on Thursday, July 7th. Desjardins raised Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research report on Wednesday, July 13th. Dundee Securities lowered Agnico Eagle Mines from a “buy” rating to a “neutral” rating in a research report on Thursday, July 14th. Finally, Zacks Investment Research raised Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Monday, July 18th.
Shares of Agnico Eagle Mines (NYSE:AEM) opened at 54.18 on Tuesday. The stock has a market cap of $12.11 billion, a price-to-earnings ratio of 373.66 and a beta of -0.57. Agnico Eagle Mines has a 52-week low of $24.80 and a 52-week high of $60.10. The firm has a 50-day moving average price of $54.14 and a 200 day moving average price of $49.13.
Agnico Eagle Mines (NYSE:AEM) last announced its quarterly earnings data on Thursday, July 28th. The mining company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.06. The business earned $537.60 million during the quarter, compared to analysts’ expectations of $507.37 million. Agnico Eagle Mines had a return on equity of 1.88% and a net margin of 1.61%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 EPS. Analysts expect that Agnico Eagle Mines will post $0.67 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.74%. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.08. The ex-dividend date was Tuesday, August 30th. Agnico Eagle Mines’s payout ratio is presently 213.35%.
Hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new stake in Agnico Eagle Mines during the fourth quarter worth approximately $46,865,000. FMR LLC increased its stake in Agnico Eagle Mines by 17.9% in the second quarter. FMR LLC now owns 10,795,569 shares of the mining company’s stock worth $577,736,000 after buying an additional 1,636,800 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in Agnico Eagle Mines during the second quarter worth approximately $59,054,000. TD Asset Management Inc. increased its stake in Agnico Eagle Mines by 67.0% in the second quarter. TD Asset Management Inc. now owns 2,158,213 shares of the mining company’s stock worth $114,899,000 after buying an additional 865,739 shares during the last quarter. Finally, Tocqueville Asset Management L.P. increased its stake in Agnico Eagle Mines by 26.2% in the second quarter. Tocqueville Asset Management L.P. now owns 3,193,874 shares of the mining company’s stock worth $170,884,000 after buying an additional 663,434 shares during the last quarter. Institutional investors own 62.03% of the company’s stock.
About Agnico Eagle Mines
Agnico Eagle Mines Limited is a 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. The Company operates through three business units. The Northern Business consists of its operations in Canada and Finland.
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