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

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) announced a quarterly dividend on Monday, April 28th, Wall Street Journal reports. Stockholders of record on Monday, December 1st will be given a dividend of 0.40 per share by the mining company on Monday, December 15th. This represents a $1.60 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Monday, December 1st.

Agnico Eagle Mines has raised its dividend payment by an average of 4.6% per year over the last three years. Agnico Eagle Mines has a payout ratio of 27.1% indicating that its dividend is sufficiently covered by earnings. Research 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 Stock Performance

NYSE:AEM opened at $118.96 on Tuesday. The firm has a market capitalization of $59.87 billion, a PE ratio of 31.47, a price-to-earnings-growth ratio of 0.66 and a beta of 0.87. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.86 and a quick ratio of 0.86. The business’s fifty day moving average price is $106.50 and its 200 day moving average price is $92.95. Agnico Eagle Mines has a 12 month low of $63.01 and a 12 month high of $126.76.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Thursday, April 24th. The mining company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.14. The business had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.27 billion. Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. The business’s quarterly revenue was up 34.9% on a year-over-year basis. During the same quarter last year, the company earned $0.76 EPS. On average, sell-side analysts anticipate that Agnico Eagle Mines will post 4.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Agnico Eagle Mines

A hedge fund recently raised its stake in Agnico Eagle Mines stock. Brighton Jones LLC boosted its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 11.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,216 shares of the mining company’s stock after acquiring an additional 331 shares during the period. Brighton Jones LLC’s holdings in Agnico Eagle Mines were worth $252,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AEM. Stifel Canada raised shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Wednesday, March 19th. Scotiabank restated an “outperform” rating on shares of Agnico Eagle Mines in a research note on Monday, April 14th. Citigroup increased their target price on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, March 31st. UBS Group upped their price objective on Agnico Eagle Mines from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, April 11th. Finally, StockNews.com cut Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $124.40.

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.