Agnico Eagle Mines Limited (NYSE:AEM) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have been assigned a consensus recommendation of “Buy” from the seventeen research firms that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and four have given a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $234.9091.

Several research analysts have recently weighed in on the stock. TD Securities boosted their price objective on shares of Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. JPMorgan Chase & Co. cut their target price on shares of Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Weiss Ratings cut Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a report on Monday, January 12th. Zacks Research raised Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. Finally, Wall Street Zen lowered Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 31st.

Institutional Investors Weigh In On Agnico Eagle Mines

Several hedge funds have recently added to or reduced their stakes in AEM. True Wealth Design LLC increased its holdings in shares of Agnico Eagle Mines by 381.3% in the third quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock valued at $26,000 after purchasing an additional 122 shares during the last quarter. Acumen Wealth Advisors LLC bought a new position in shares of Agnico Eagle Mines in the fourth quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Agnico Eagle Mines during the 2nd quarter worth about $29,000. Blue Bell Private Wealth Management LLC lifted its stake in shares of Agnico Eagle Mines by 59.7% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock worth $33,000 after buying an additional 74 shares during the last quarter. Finally, MCF Advisors LLC bought a new stake in shares of Agnico Eagle Mines during the 3rd quarter worth about $34,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

NYSE:AEM opened at $209.95 on Tuesday. Agnico Eagle Mines has a 1-year low of $94.77 and a 1-year high of $255.24. The company has a current ratio of 2.02, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a fifty day simple moving average of $213.19 and a 200 day simple moving average of $182.08. The stock has a market capitalization of $105.19 billion, a PE ratio of 23.64 and a beta of 0.61.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.13. The firm had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.40 billion. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.09%. The company’s quarterly revenue was up 60.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.26 earnings per share. On average, research analysts expect that Agnico Eagle Mines will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, March 2nd. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s payout ratio is presently 20.27%.

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.