Agnico Eagle Mines Limited (NYSE:AEM) Receives $70.33 Consensus Price Target from Analysts

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have received an average rating of “Buy” from the six research firms that are covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $70.33.

AEM has been the subject of a number of research analyst reports. CSFB upped their target price on Agnico Eagle Mines from $60.00 to $61.00 and gave the stock an “outperform” rating in a research report on Thursday, August 17th. BMO Capital Markets upped their target price on Agnico Eagle Mines from $64.00 to $67.00 in a research report on Thursday, July 27th. StockNews.com began coverage on Agnico Eagle Mines in a research report on Thursday, October 5th. They issued a “hold” rating for the company. TD Securities upped their price target on Agnico Eagle Mines from $69.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Finally, Barclays upped their price target on Agnico Eagle Mines from $61.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, July 27th.

Agnico Eagle Mines Stock Down 0.8 %

Shares of NYSE AEM opened at $46.67 on Friday. Agnico Eagle Mines has a 1 year low of $43.22 and a 1 year high of $61.15. The firm has a market cap of $23.16 billion, a price-to-earnings ratio of 8.76, a PEG ratio of 22.15 and a beta of 0.88. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.71 and a current ratio of 1.99. The stock’s 50-day simple moving average is $47.59 and its 200-day simple moving average is $49.97.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Thursday, October 26th. The mining company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Agnico Eagle Mines had a return on equity of 5.26% and a net margin of 40.40%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the previous year, the firm posted $0.52 earnings per share. Agnico Eagle Mines’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, equities analysts anticipate that Agnico Eagle Mines will post 2.13 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

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 issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend is Thursday, November 30th. Agnico Eagle Mines’s dividend payout ratio is presently 30.02%.

Institutional Investors Weigh In On Agnico Eagle Mines

Several institutional investors have recently added to or reduced their stakes in AEM. Islay Capital Management LLC lifted its holdings in shares of Agnico Eagle Mines by 413.0% during the 2nd quarter. Islay Capital Management LLC now owns 513 shares of the mining company’s stock worth $26,000 after acquiring an additional 413 shares during the period. Coppell Advisory Solutions Corp. bought a new position in Agnico Eagle Mines in the 4th quarter valued at approximately $26,000. Ameritas Advisory Services LLC bought a new position in Agnico Eagle Mines in the 1st quarter valued at approximately $30,000. WealthPlan Investment Management LLC bought a new position in Agnico Eagle Mines in the 2nd quarter valued at approximately $31,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in Agnico Eagle Mines in the 3rd quarter valued at approximately $34,000. 59.37% of the stock is owned by institutional investors.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.