Agnico Eagle Mines (NYSE:AEM) Given New $251.00 Price Target at TD Securities

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) had its target price upped by TD Securities from $241.00 to $251.00 in a research report sent to investors on Tuesday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the mining company’s stock.

A number of other analysts have also weighed in on AEM. JPMorgan Chase & Co. lowered their price objective 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. Zacks Research upgraded shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Wall Street Zen cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 31st. UBS Group reissued a “neutral” rating and set a $240.00 price objective on shares of Agnico Eagle Mines in a report on Friday, January 30th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $225.00 price objective on shares of Agnico Eagle Mines in a research note on Wednesday, January 14th. Four research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $234.91.

Agnico Eagle Mines Trading Down 7.1%

AEM stock opened at $234.36 on Tuesday. Agnico Eagle Mines has a 12 month low of $94.37 and a 12 month high of $255.24. The firm’s 50-day moving average is $204.97 and its 200 day moving average is $176.74. The company has a market capitalization of $117.42 billion, a PE ratio of 26.39 and a beta of 0.61. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.02 and a quick ratio of 1.33.

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

Agnico Eagle Mines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, March 2nd. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.8%. Agnico Eagle Mines’s payout ratio is presently 20.27%.

Institutional Trading of Agnico Eagle Mines

A number of institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Agnico Eagle Mines in the fourth quarter valued at about $1,367,783,000. Capital World Investors boosted its position in Agnico Eagle Mines by 20.0% in the third quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock valued at $3,497,470,000 after buying an additional 3,462,968 shares during the last quarter. Van ECK Associates Corp increased its holdings in Agnico Eagle Mines by 21.6% in the 4th quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock worth $2,920,258,000 after buying an additional 3,062,705 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Agnico Eagle Mines by 38.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 8,296,796 shares of the mining company’s stock worth $987,398,000 after buying an additional 2,319,131 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Agnico Eagle Mines by 48.3% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,528,022 shares of the mining company’s stock worth $538,506,000 after buying an additional 1,474,385 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Company Profile

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.