Agnico Eagle Mines Limited (AEM) to Issue Quarterly Dividend of $0.45 on March 16th

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) declared a quarterly dividend on Thursday, February 12th. Investors of record on Monday, March 2nd will be given a dividend of 0.45 per share by the mining company on Monday, March 16th. This represents a c) annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, March 2nd. This is a 12.5% increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40.

Agnico Eagle Mines has increased its dividend by an average of 0.0%annually over the last three years. Agnico Eagle Mines has a dividend payout ratio of 24.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Agnico Eagle Mines to earn $4.28 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 37.4%.

Agnico Eagle Mines Price Performance

Shares of AEM opened at $216.93 on Friday. The company has a 50 day moving average of $189.53 and a two-hundred day moving average of $167.55. The company has a quick ratio of 1.31, a current ratio of 2.12 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines has a twelve month low of $92.11 and a twelve month high of $225.00. The company has a market cap of $108.69 billion, a price-to-earnings ratio of 24.43, a price-to-earnings-growth ratio of 0.47 and a beta of 0.63.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 EPS for the quarter, beating the consensus estimate of $2.56 by $0.13. Agnico Eagle Mines had a return on equity of 18.53% and a net margin of 37.47%.The firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same quarter in the prior year, the business posted $1.26 EPS. The business’s revenue for the quarter was up 60.3% compared to the same quarter last year. As a group, analysts predict that Agnico Eagle Mines will post 4.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AEM. Canadian Imperial Bank of Commerce set a $296.00 target price on shares of Agnico Eagle Mines and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Royal Bank Of Canada cut shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $185.00 to $205.00 in a research note on Wednesday, December 10th. Scotiabank raised their price objective on Agnico Eagle Mines from $219.00 to $276.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Wall Street Zen lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 31st. Finally, Citigroup lifted their price objective on Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $230.64.

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.