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

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have received an average rating of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $69.63.

Several brokerages have commented on AEM. CIBC upped their target price on shares of Agnico Eagle Mines from $80.00 to $81.00 and gave the company an “outperform” rating in a research note on Tuesday, April 30th. TD Securities upped their target price on shares of Agnico Eagle Mines from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Jefferies Financial Group upped their target price on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. Finally, Citigroup upped their target price on shares of Agnico Eagle Mines from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th.

Agnico Eagle Mines Trading Up 0.6 %

Shares of NYSE AEM opened at $66.28 on Friday. The company’s 50 day simple moving average is $59.58 and its 200 day simple moving average is $53.56. Agnico Eagle Mines has a fifty-two week low of $43.22 and a fifty-two week high of $67.80. The firm has a market capitalization of $33.05 billion, a P/E ratio of 69.77, a P/E/G ratio of 0.76 and a beta of 1.04. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.21 and a quick ratio of 0.88.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, April 25th. The mining company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.16. Agnico Eagle Mines had a net margin of 6.79% and a return on equity of 6.09%. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period in the prior year, the business posted $0.57 earnings per share. Agnico Eagle Mines’s revenue was up 21.2% compared to the same quarter last year. On average, analysts predict that Agnico Eagle Mines will post 3.23 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Friday, May 31st. Agnico Eagle Mines’s dividend payout ratio is 168.42%.

Institutional Investors Weigh In On Agnico Eagle Mines

Several large investors have recently made changes to their positions in AEM. TD Asset Management Inc boosted its holdings in Agnico Eagle Mines by 24.1% during the first quarter. TD Asset Management Inc now owns 5,306,106 shares of the mining company’s stock worth $316,700,000 after purchasing an additional 1,031,142 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in Agnico Eagle Mines by 1.0% in the first quarter. Bleakley Financial Group LLC now owns 45,856 shares of the mining company’s stock valued at $2,735,000 after acquiring an additional 445 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake in Agnico Eagle Mines by 3.6% in the first quarter. Avantax Advisory Services Inc. now owns 16,616 shares of the mining company’s stock valued at $991,000 after acquiring an additional 585 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Agnico Eagle Mines in the first quarter valued at $289,000. Finally, Tectonic Advisors LLC lifted its stake in Agnico Eagle Mines by 5.5% in the first quarter. Tectonic Advisors LLC now owns 32,149 shares of the mining company’s stock valued at $1,918,000 after acquiring an additional 1,676 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

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.