Research Analysts Set Expectations for Agnico Eagle Mines Ltd.’s Q1 2017 Earnings (AEM)
Agnico Eagle Mines Ltd. (NYSE:AEM) (TSE:AEM) – Research analysts at Raymond James Financial cut their Q1 2017 earnings estimates for Agnico Eagle Mines in a research report issued to clients and investors on Thursday. Raymond James Financial analyst P. Russo now anticipates that the brokerage will post earnings of $0.41 per share for the quarter, down from their prior estimate of $0.46. Raymond James Financial currently has a “Outperform” rating on the stock. Raymond James Financial also issued estimates for Agnico Eagle Mines’ Q2 2017 earnings at $0.41 EPS, Q3 2017 earnings at $0.41 EPS and Q4 2017 earnings at $0.41 EPS.
Several other equities analysts also recently commented on AEM. BMO Capital Markets set a $72.30 price target on shares of Agnico Eagle Mines and gave the company a “hold” rating in a report on Sunday, September 18th. Barclays PLC upped their price target on shares of Agnico Eagle Mines from $50.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, August 8th. Zacks Investment Research downgraded shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Wednesday, September 7th. Citigroup Inc. initiated coverage on shares of Agnico Eagle Mines in a report on Tuesday, August 2nd. They set a “sell” rating and a $44.00 price target on the stock. Finally, TD Securities restated a “hold” rating and issued a $56.00 target price on shares of Agnico Eagle Mines in a research note on Monday, July 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $55.47.
Shares of Agnico Eagle Mines (NYSE:AEM) opened at 42.20 on Monday. The company has a market capitalization of $9.48 billion, a PE ratio of 118.54 and a beta of -0.42. The company has a 50 day moving average price of $49.29 and a 200 day moving average price of $51.15. Agnico Eagle Mines has a 1-year low of $24.80 and a 1-year high of $60.10.
Agnico Eagle Mines (NYSE:AEM) last posted its earnings results on Wednesday, October 26th. The mining company reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.05. The company had revenue of $610.86 million for the quarter, compared to analysts’ expectations of $555.47 million. Agnico Eagle Mines had a return on equity of 2.27% and a net margin of 3.80%. Agnico Eagle Mines’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period last year, the firm earned $0.02 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.40 dividend on an annualized basis 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 bought and sold shares of the company. IFP Advisors Inc boosted its position in Agnico Eagle Mines by 7.8% in the second quarter. IFP Advisors Inc now owns 2,174 shares of the mining company’s stock worth $116,000 after buying an additional 157 shares in the last quarter. Creative Planning boosted its position in Agnico Eagle Mines by 25.3% in the third quarter. Creative Planning now owns 2,974 shares of the mining company’s stock worth $161,000 after buying an additional 600 shares in the last quarter. Seven Eight Capital LLC bought a new position in Agnico Eagle Mines during the second quarter worth about $198,000. Cipher Capital LP bought a new position in Agnico Eagle Mines during the second quarter worth about $216,000. Finally, US Bancorp DE boosted its position in Agnico Eagle Mines by 12.3% in the second quarter. US Bancorp DE now owns 4,346 shares of the mining company’s stock worth $232,000 after buying an additional 476 shares in the last quarter. 62.14% of the stock is owned by institutional investors and hedge funds.
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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