Agnico Eagle Mines Ltd. (AEM) Receives “Hold” Rating from TD Securities
Agnico Eagle Mines Ltd. (NYSE:AEM) (TSE:AEM)‘s stock had its “hold” rating reissued by analysts at TD Securities in a report released on Monday. They presently have a $61.00 target price on the mining company’s stock. TD Securities’ price objective suggests a potential upside of 44.55% from the stock’s previous close.
Several other research firms have also weighed in on AEM. Citigroup Inc. assumed coverage on Agnico Eagle Mines in a research note on Tuesday, August 2nd. They issued a “sell” rating and a $44.00 target price on the stock. Barclays PLC increased their target price on Agnico Eagle Mines from $50.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, August 8th. RBC Capital Markets lowered Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and set a $67.00 target price on the stock. in a research note on Monday, August 8th. Royal Bank Of Canada lowered Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and set a $67.00 target price on the stock. in a research note on Monday, August 8th. Finally, Zacks Investment Research lowered Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Wednesday, September 7th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $55.47.
Shares of Agnico Eagle Mines (NYSE:AEM) traded up 2.06% during midday trading on Monday, hitting $43.07. The company had a trading volume of 1,240,248 shares. The firm’s 50-day moving average is $47.85 and its 200-day moving average is $51.19. The firm has a market capitalization of $9.68 billion, a P/E ratio of 120.98 and a beta of -0.42. Agnico Eagle Mines has a 12-month low of $24.93 and a 12-month high of $60.10.
Agnico Eagle Mines (NYSE:AEM) last released its earnings results on Wednesday, October 26th. The mining company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.05. Agnico Eagle Mines had a return on equity of 2.27% and a net margin of 3.80%. The firm had revenue of $610.86 million for the quarter, compared to analyst estimates of $555.47 million. During the same quarter in the prior year, the firm posted $0.02 earnings per share. The company’s quarterly revenue was up 20.1% on a year-over-year basis. On average, analysts predict that Agnico Eagle Mines will post $0.67 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 0.95%. Agnico Eagle Mines’s dividend payout ratio is currently 88.89%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Agnico Eagle Mines by 9.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,941,418 shares of the mining company’s stock valued at $158,793,000 after buying an additional 264,625 shares in the last quarter. Boyle Capital Management L.L.C. boosted its stake in Agnico Eagle Mines by 0.5% in the third quarter. Boyle Capital Management L.L.C. now owns 35,762 shares of the mining company’s stock valued at $1,938,000 after buying an additional 174 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in Agnico Eagle Mines by 59.8% in the third quarter. 1832 Asset Management L.P. now owns 2,556,158 shares of the mining company’s stock valued at $138,109,000 after buying an additional 956,987 shares during the last quarter. OLD Mission Capital LLC purchased a new stake in Agnico Eagle Mines during the third quarter valued at $1,855,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Agnico Eagle Mines during the third quarter valued at $45,294,000. Institutional investors own 62.14% of the company’s stock.
Agnico Eagle Mines Company Profile
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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