Agnico Eagle Mines Limited (AEM) To Go Ex-Dividend on September 1st

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) declared a quarterly dividend on Thursday, February 12th. Shareholders of record on Tuesday, September 1st will be paid a dividend of 0.45 per share by the mining company on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 1st.

Agnico Eagle Mines has decreased its dividend by an average of 0.0%annually over the last three years. Agnico Eagle Mines has a dividend payout ratio of 28.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Agnico Eagle Mines to earn $11.25 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 16.0%.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $206.41 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.86 and a quick ratio of 2.02. The company’s fifty day moving average price is $165.50 and its two-hundred day moving average price is $187.44. The firm has a market capitalization of $104.63 billion, a P/E ratio of 17.66, a P/E/G ratio of 2.56 and a beta of 0.60. Agnico Eagle Mines has a 12 month low of $134.38 and a 12 month high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Wednesday, July 29th. The mining company reported $3.05 EPS for the quarter, beating the consensus estimate of $2.89 by $0.16. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same period in the prior year, the business posted $1.94 EPS. The business’s revenue was up 35.0% on a year-over-year basis. On average, research analysts anticipate that Agnico Eagle Mines will post 11.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AEM shares. Bank of America cut their price target on Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Weiss Ratings cut shares of Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Barclays decreased their price objective on shares of Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Scotia decreased their price target on Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating for the company in a research note on Friday, July 3rd. Finally, Royal Bank Of Canada decreased their target price on Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating for the company in a research note on Thursday, July 9th. Twelve investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and an average price target of $226.00.

About Agnico Eagle Mines

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.