Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) has been assigned an average rating of “Buy” from the twelve research firms that are currently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $54.93.
A number of brokerages have recently weighed in on AEM. TD Securities set a $53.00 price objective on shares of Agnico Eagle Mines and gave the company a “hold” rating in a report on Thursday, October 19th. Royal Bank Of Canada set a $53.00 price target on shares of Agnico Eagle Mines and gave the stock a “hold” rating in a research note on Monday. BMO Capital Markets reiterated a “hold” rating and set a $47.00 price target on shares of Agnico Eagle Mines in a research note on Monday, October 2nd. Zacks Investment Research lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 24th. Finally, National Bank Financial reiterated an “outperform market weight” rating on shares of Agnico Eagle Mines in a research note on Friday, September 8th.
A number of institutional investors and hedge funds have recently made changes to their positions in AEM. Sei Investments Co. raised its position in Agnico Eagle Mines by 75.7% during the second quarter. Sei Investments Co. now owns 2,260 shares of the mining company’s stock worth $102,000 after acquiring an additional 974 shares during the last quarter. WFG Advisors LP raised its position in Agnico Eagle Mines by 8.6% during the second quarter. WFG Advisors LP now owns 3,889 shares of the mining company’s stock worth $175,000 after acquiring an additional 309 shares during the last quarter. Oppenheimer & Close LLC acquired a new position in Agnico Eagle Mines during the second quarter worth about $209,000. Fruth Investment Management acquired a new position in Agnico Eagle Mines during the second quarter worth about $212,000. Finally, Wetherby Asset Management Inc. raised its position in Agnico Eagle Mines by 3.5% during the second quarter. Wetherby Asset Management Inc. now owns 5,110 shares of the mining company’s stock worth $230,000 after acquiring an additional 175 shares during the last quarter. Institutional investors own 58.95% of the company’s stock.
Shares of Agnico Eagle Mines (NYSE AEM) traded up 3.41% during trading on Thursday, reaching $45.45. 3,469,452 shares of the company were exchanged. Agnico Eagle Mines has a 1-year low of $35.05 and a 1-year high of $53.17. The firm has a 50-day moving average price of $46.60 and a 200-day moving average price of $46.76. The stock has a market capitalization of $10.51 billion, a P/E ratio of 41.77 and a beta of -0.76.
Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Wednesday, October 25th. The mining company reported $0.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.05. Agnico Eagle Mines had a net margin of 11.25% and a return on equity of 5.16%. The business had revenue of $580.00 million for the quarter, compared to analyst estimates of $549.13 million. During the same period last year, the business earned $0.25 EPS. The company’s revenue was down 5.1% on a year-over-year basis. Equities research analysts predict that Agnico Eagle Mines will post $0.84 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $0.11 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.97%. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.10. Agnico Eagle Mines’s payout ratio is presently 36.70%.
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.
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