Agnico Eagle Mines Limited (NYSE:AEM) Plans $0.45 Quarterly Dividend

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) announced a quarterly dividend on Thursday, February 12th. Stockholders of record on Tuesday, September 1st will be paid a dividend of 0.45 per share by the mining company on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 1st.

Agnico Eagle Mines has decreased its dividend payment by an average of 0.0%annually over the last three years. Agnico Eagle Mines has a dividend payout ratio of 28.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Agnico Eagle Mines to earn $11.25 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 16.0%.

Agnico Eagle Mines Price Performance

Shares of Agnico Eagle Mines stock opened at $206.41 on Friday. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.01. The firm has a fifty day simple moving average of $165.50 and a 200-day simple moving average of $187.44. The stock has a market capitalization of $104.63 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 2.56 and a beta of 0.60. Agnico Eagle Mines has a 1-year low of $134.38 and a 1-year high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.16. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.78 billion. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. Agnico Eagle Mines’s revenue was up 35.0% compared to the same quarter last year. During the same period last year, the business posted $1.94 EPS. On average, sell-side analysts expect that Agnico Eagle Mines will post 11.56 earnings per share for the current year.

Institutional Trading of Agnico Eagle Mines

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Acumen Wealth Advisors LLC acquired a new position in shares of Agnico Eagle Mines during the fourth quarter valued at about $26,000. Markowski Investments acquired a new stake in Agnico Eagle Mines during the second quarter worth about $29,000. Dunhill Financial LLC bought a new position in Agnico Eagle Mines during the second quarter valued at about $31,000. Fiduciary Financial Advisors bought a new position in Agnico Eagle Mines during the second quarter valued at about $32,000. Finally, Jessup Wealth Management Inc acquired a new position in Agnico Eagle Mines in the 4th quarter valued at approximately $35,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

About Agnico Eagle Mines

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.