Agnico Eagle Mines Limited (NYSE:AEM) Receives Average Rating of “Moderate Buy” from Analysts

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has received an average recommendation of “Moderate Buy” from the six research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $63.71.

AEM has been the topic of several research reports. TD Securities decreased their price target on shares of Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. National Bank Financial reissued an “outperform overweight” rating on shares of Agnico Eagle Mines in a research note on Wednesday, January 3rd. CIBC decreased their price target on shares of Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Raymond James lifted their target price on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “outperform” rating in a research note on Friday, January 12th. Finally, Jefferies Financial Group started coverage on shares of Agnico Eagle Mines in a research note on Thursday, February 29th. They set a “hold” rating and a $54.00 target price on the stock.

Agnico Eagle Mines Stock Down 1.4 %

Shares of NYSE AEM opened at $61.15 on Tuesday. The company’s 50-day simple moving average is $52.64 and its 200-day simple moving average is $51.00. Agnico Eagle Mines has a 52-week low of $43.22 and a 52-week high of $62.77. The firm has a market cap of $30.45 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 26.94 and a beta of 1.06. The company has a quick ratio of 0.74, a current ratio of 2.09 and a debt-to-equity ratio of 0.10.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Friday, February 16th. The mining company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.09. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.72 billion. Agnico Eagle Mines had a net margin of 29.29% and a return on equity of 5.54%. The company’s revenue for the quarter was up 26.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 earnings per share. Equities analysts predict that Agnico Eagle Mines will post 2.3 EPS for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend was Thursday, February 29th. Agnico Eagle Mines’s dividend payout ratio (DPR) is 38.93%.

Institutional Investors Weigh In On Agnico Eagle Mines

Institutional investors and hedge funds have recently made changes to their positions in the stock. Coppell Advisory Solutions Corp. purchased a new stake in shares of Agnico Eagle Mines in the 4th quarter valued at approximately $26,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Agnico Eagle Mines in the 4th quarter valued at approximately $33,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Agnico Eagle Mines in the 3rd quarter valued at approximately $34,000. CVA Family Office LLC purchased a new stake in shares of Agnico Eagle Mines in the 4th quarter valued at approximately $36,000. Finally, Almanack Investment Partners LLC. purchased a new stake in shares of Agnico Eagle Mines in the 3rd quarter valued at approximately $37,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. 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.