National Bank Financial Comments on Agnico Eagle Mines Ltd.’s Q3 2016 Earnings (AEM)
Agnico Eagle Mines Ltd. (NYSE:AEM) – Research analysts at National Bank Financial dropped their Q3 2016 earnings per share (EPS) estimates for Agnico Eagle Mines in a research report issued on Wednesday. National Bank Financial analyst S. Parsons now expects that the brokerage will post earnings per share of $0.15 for the quarter, down from their prior forecast of $0.20.
Other research analysts have also issued research reports about the stock. BMO Capital Markets set a $72.30 price objective on shares of Agnico Eagle Mines and gave the company a “hold” rating in a research report on Sunday, September 18th. Royal Bank Of Canada lowered shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and set a $67.00 price target for the company. in a research report on Monday, August 8th. Zacks Investment Research raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research report on Monday, July 18th. RBC Capital Markets lowered shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and set a $67.00 price target for the company. in a research report on Monday, August 8th. Finally, Citigroup Inc. reissued a “sell” rating on shares of Agnico Eagle Mines in a research report on Thursday, August 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $51.93.
Shares of Agnico Eagle Mines (NYSE:AEM) traded down 0.97% during trading on Friday, reaching $45.86. The company’s stock had a trading volume of 605,173 shares. The company’s 50-day moving average price is $51.56 and its 200 day moving average price is $49.65. The stock has a market capitalization of $10.25 billion, a price-to-earnings ratio of 316.28 and a beta of -0.84. Agnico Eagle Mines has a 1-year low of $24.80 and a 1-year high of $60.10.
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Agnico Eagle Mines (NYSE:AEM) last issued its earnings results on Thursday, July 28th. The mining company reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.06. Agnico Eagle Mines had a return on equity of 1.88% and a net margin of 1.61%. The company earned $537.60 million during the quarter, compared to the consensus estimate of $507.37 million. During the same period in the previous year, the firm posted $0.09 earnings per share. Agnico Eagle Mines’s quarterly revenue was up 5.4% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were paid a $0.10 dividend. The ex-dividend date was Tuesday, August 30th. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a yield of 0.86%. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 213.35%.
A number of institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services Inc acquired a new position in shares of Agnico Eagle Mines during the first quarter worth about $327,000. Virginia Retirement System acquired a new position in shares of Agnico Eagle Mines during the first quarter worth about $530,000. Ngam Advisors L.P. acquired a new position in shares of Agnico Eagle Mines during the first quarter worth about $424,000. Sentry Investment Management LLC acquired a new position in shares of Agnico Eagle Mines during the first quarter worth about $817,000. Finally, NN Investment Partners Holdings N.V. acquired a new position in shares of Agnico Eagle Mines during the first quarter worth about $483,000. 62.03% of the stock is currently 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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