Agnico Eagle Mines Limited (NYSE:AEM) Plans $0.40 Quarterly Dividend

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) announced a quarterly dividend on Monday, April 29th, Wall Street Journal reports. Shareholders of record on Friday, May 31st will be given a dividend of 0.40 per share by the mining company on Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Friday, May 31st.

Agnico Eagle Mines has increased its dividend by an average of 19.0% annually over the last three years. Agnico Eagle Mines has a payout ratio of 54.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Agnico Eagle Mines to earn $3.05 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 52.5%.

Agnico Eagle Mines Trading Down 3.7 %

Shares of AEM stock opened at $63.35 on Wednesday. The company has a market capitalization of $31.59 billion, a P/E ratio of 66.68, a price-to-earnings-growth ratio of 0.89 and a beta of 1.06. The company has a current ratio of 2.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The business’s 50 day moving average is $57.26 and its two-hundred day moving average is $52.80. Agnico Eagle Mines has a twelve month low of $43.22 and a twelve month high of $67.80.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.16. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.78 billion. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The company’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same period last year, the company earned $0.57 earnings per share. Equities analysts forecast that Agnico Eagle Mines will post 2.77 EPS for the current year.

Wall Street Analysts Forecast Growth

AEM has been the topic of several analyst reports. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. CIBC lifted their price objective on Agnico Eagle Mines from $80.00 to $81.00 and gave the company an “outperform” rating in a report on Tuesday. Jefferies Financial Group increased their target price on Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. Citigroup raised their price target on Agnico Eagle Mines from $65.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday. Finally, TD Securities upped their price objective on Agnico Eagle Mines from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $69.63.

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.