Agnico Eagle Mines Ltd. (AEM) Trading 3.7% Higher
Agnico Eagle Mines Ltd. (NYSE:AEM)’s share price traded up 3.7% on Wednesday . The company traded as high as $54.38 and last traded at $54.21, with a volume of 967,694 shares. The stock had previously closed at $52.28.
A number of equities analysts recently weighed in on the stock. Citigroup Inc. assumed coverage on shares of Agnico Eagle Mines in a research note on Tuesday, August 2nd. They set a “sell” rating and a $44.00 target price for the company. TD Securities reissued a “hold” rating and set a $61.00 target price (up previously from $56.00) on shares of Agnico Eagle Mines in a research note on Saturday, August 13th. RBC Capital Markets downgraded shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and set a $67.00 target price for the company. in a research note on Monday, August 8th. Royal Bank Of Canada downgraded shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and set a $67.00 target price for the company. in a research note on Monday, August 8th. Finally, Barclays PLC lifted their target price on shares of Agnico Eagle Mines from $50.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, August 8th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $51.93.
The firm’s 50-day moving average price is $55.01 and its 200-day moving average price is $48.18. The company has a market cap of $12.52 billion, a PE ratio of 386.41 and a beta of -0.57.
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Agnico Eagle Mines (NYSE:AEM) last posted its earnings results on Thursday, July 28th. The mining company reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.06. Agnico Eagle Mines had a net margin of 1.61% and a return on equity of 1.88%. The firm earned $537.60 million during the quarter, compared to analysts’ expectations of $507.37 million. During the same period last year, the company posted $0.09 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, equities analysts anticipate that Agnico Eagle Mines Ltd. will post $0.66 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.71%. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Tuesday, August 30th. Agnico Eagle Mines’s dividend payout ratio (DPR) is currently 213.35%.
Large investors have recently bought and sold shares of the company. IFP Advisors Inc boosted its stake in Agnico Eagle Mines by 7.8% in the second quarter. IFP Advisors Inc now owns 2,174 shares of the mining company’s stock valued at $116,000 after buying an additional 157 shares in the last quarter. USA Mutuals Advisors Inc. bought a new stake in Agnico Eagle Mines during the first quarter valued at approximately $181,000. Seven Eight Capital LLC bought a new stake in Agnico Eagle Mines during the second quarter valued at approximately $198,000. Cipher Capital LP bought a new stake in Agnico Eagle Mines during the second quarter valued at approximately $216,000. Finally, US Bancorp DE boosted its stake in Agnico Eagle Mines by 12.3% in the second quarter. US Bancorp DE now owns 4,346 shares of the mining company’s stock valued at $232,000 after buying an additional 476 shares in the last quarter. 62.03% of the stock is owned by hedge funds and other institutional investors.
Agnico Eagle Mines Company Profile
Agnico Eagle Mines Limited is a gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut and exploration activities in Canada, Europe, Latin America and the United States. The Company operates through three business units. The Northern Business consists of its operations in Canada and Finland.
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