Brokerages Set Agnico Eagle Mines Limited (TSE:AEM) Target Price at C$318.83

Shares of Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) have received an average recommendation of “Moderate Buy” from the eight research firms that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is C$318.83.

Several equities analysts have weighed in on AEM shares. TD Securities lifted their target price on Agnico Eagle Mines from C$241.00 to C$251.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. ATB Cormark Capital Markets raised Agnico Eagle Mines from a “sector” rating to an “outperform” rating in a research report on Monday, May 4th. BMO Capital Markets lifted their target price on Agnico Eagle Mines from C$350.00 to C$370.00 in a research report on Wednesday, April 22nd. Stifel Nicolaus lifted their target price on Agnico Eagle Mines from C$300.00 to C$350.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Finally, Barclays set a C$292.00 target price on Agnico Eagle Mines and gave the company an “overweight” rating in a research report on Friday, May 22nd.

Agnico Eagle Mines Stock Down 7.2%

Shares of AEM opened at C$228.02 on Tuesday. The firm has a market cap of C$114.02 billion, a P/E ratio of 21.47, a price-to-earnings-growth ratio of 22.97 and a beta of 1.75. Agnico Eagle Mines has a 12-month low of C$156.93 and a 12-month high of C$348.94. The company’s 50-day moving average price is C$267.36 and its 200 day moving average price is C$267.91. The company has a current ratio of 3.15, a quick ratio of 0.89 and a debt-to-equity ratio of 1.21.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last released its earnings results on Thursday, April 30th. The company reported C$4.73 earnings per share for the quarter. The company had revenue of C$5.70 billion during the quarter. Agnico Eagle Mines had a return on equity of 22.08% and a net margin of 39.48%. On average, sell-side analysts forecast that Agnico Eagle Mines will post 5.4966052 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 15th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, June 1st. Agnico Eagle Mines’s payout ratio is currently 15.54%.

Agnico Eagle Mines Company Profile

Canadian-based and led, Agnico Eagle is Canada’s largest mining company and the second largest gold producer in the world, operating mines in Canada, Australia, Finland and Mexico. The Company is advancing a pipeline of high-quality development projects in these regions to support sustainable growth over the next decade. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.