Agnico Eagle Mines Limited (AEM) Announces Quarterly Dividend of $0.10
Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) announced a quarterly dividend on Wednesday, July 26th, RTT News reports. Investors of record on Friday, September 1st will be paid a dividend of 0.10 per share by the mining company on Friday, September 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.84%.
Agnico Eagle Mines Limited has decreased its dividend payment by an average of 31.1% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Agnico Eagle Mines Limited has a payout ratio of 53.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Agnico Eagle Mines Limited to earn $0.85 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 47.1%.
Shares of Agnico Eagle Mines Limited (NYSE:AEM) traded up 4.29% during mid-day trading on Wednesday, hitting $47.38. The company had a trading volume of 2,280,741 shares. Agnico Eagle Mines Limited has a 52 week low of $35.05 and a 52 week high of $60.10. The firm has a 50-day moving average price of $46.21 and a 200-day moving average price of $45.87. The firm has a market capitalization of $10.91 billion, a PE ratio of 52.64 and a beta of -0.67.
Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, April 27th. The mining company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.17. Agnico Eagle Mines Limited had a net margin of 9.43% and a return on equity of 4.57%. The company had revenue of $547.50 million during the quarter, compared to analyst estimates of $528.14 million. During the same period in the previous year, the business earned $0.12 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities analysts forecast that Agnico Eagle Mines Limited will post $0.70 earnings per share for the current year.
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A number of brokerages have weighed in on AEM. Zacks Investment Research upgraded shares of Agnico Eagle Mines Limited from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Thursday, May 11th. Credit Suisse Group set a $63.00 target price on shares of Agnico Eagle Mines Limited and gave the company a “buy” rating in a research note on Tuesday, July 18th. Royal Bank Of Canada set a $54.00 target price on shares of Agnico Eagle Mines Limited and gave the company a “hold” rating in a research note on Monday, June 12th. ValuEngine upgraded shares of Agnico Eagle Mines Limited from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, TD Securities reiterated a “hold” rating and set a $48.00 target price on shares of Agnico Eagle Mines Limited in a research note on Friday, April 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $52.94.
Agnico Eagle Mines Limited 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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