Agnico Eagle Mines Ltd. (NYSE:AEM) – Equities research analysts at National Bank Financial decreased their Q3 2016 earnings per share estimates for shares of Agnico Eagle Mines in a note issued to investors on Wednesday. National Bank Financial analyst S. Parsons now expects that the firm will earn $0.15 per share for the quarter, down from their prior estimate of $0.20.

A number of other brokerages also recently issued reports on AEM. HSBC reiterated a “buy” rating on shares of Agnico Eagle Mines in a research note on Thursday, July 7th. Desjardins upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Wednesday, July 13th. Dundee Securities downgraded Agnico Eagle Mines from a “buy” rating to a “neutral” rating in a research note on Thursday, July 14th. Zacks Investment Research upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research note on Monday, July 18th. Finally, TD Securities reiterated a “hold” rating and set a $56.00 price objective on shares of Agnico Eagle Mines in a research note on Monday, July 25th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. Agnico Eagle Mines currently has an average rating of “Hold” and a consensus target price of $51.93.

Earnings History and Estimates for Agnico Eagle Mines (NYSE:AEM)

Shares of Agnico Eagle Mines (NYSE:AEM) traded down 0.97% during midday trading on Friday, hitting $45.86. 605,173 shares of the stock were exchanged. The firm’s 50 day moving average price is $51.56 and its 200-day moving average price is $49.65. Agnico Eagle Mines has a 52-week low of $24.80 and a 52-week high of $60.10. The stock has a market cap of $10.25 billion, a P/E ratio of 316.28 and a beta of -0.84.

Agnico Eagle Mines (NYSE:AEM) last announced its quarterly earnings results on Thursday, July 28th. The mining company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.06. Agnico Eagle Mines had a net margin of 1.61% and a return on equity of 1.88%. The firm had revenue of $537.60 million for the quarter, compared to the consensus estimate of $507.37 million. During the same period in the prior year, the firm posted $0.09 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.86%. The ex-dividend date was Tuesday, August 30th. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.08. Agnico Eagle Mines’s dividend payout ratio is presently 213.35%.

A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised 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. Royal Bank of Canada raised its stake in Agnico Eagle Mines by 6.5% in the second quarter. Royal Bank of Canada now owns 6,567,031 shares of the mining company’s stock worth $351,335,000 after buying an additional 400,780 shares during the last quarter. Vanguard Group Inc. raised its stake in Agnico Eagle Mines by 12.7% in the second quarter. Vanguard Group Inc. now owns 4,503,808 shares of the mining company’s stock worth $240,954,000 after buying an additional 508,190 shares during the last quarter. Tocqueville Asset Management L.P. raised 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. Finally, CIBC Asset Management Inc raised its stake in Agnico Eagle Mines by 9.9% in the second quarter. CIBC Asset Management Inc now owns 2,888,338 shares of the mining company’s stock worth $153,578,000 after buying an additional 259,326 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.

5 Day Chart for NYSE:AEM

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