Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) issued its earnings results on Wednesday. The mining company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.10, Morningstar.com reports. Agnico Eagle Mines Limited had a net margin of 9.43% and a return on equity of 4.57%. The firm had revenue of $549.88 million during the quarter, compared to analysts’ expectations of $529.43 million. During the same quarter last year, the company posted $0.16 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year.

Shares of Agnico Eagle Mines Limited (NYSE AEM) traded up 0.74% during trading on Thursday, reaching $47.73. 1,685,028 shares of the company’s stock were exchanged. The stock has a market capitalization of $10.99 billion, a price-to-earnings ratio of 53.03 and a beta of -0.67. The stock has a 50 day moving average price of $46.04 and a 200-day moving average price of $45.88. Agnico Eagle Mines Limited has a 52 week low of $35.05 and a 52 week high of $60.10.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.84%. Agnico Eagle Mines Limited’s dividend payout ratio (DPR) is presently 43.96%.

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Several large investors have recently added to or reduced their stakes in the company. Financial Architects Inc boosted its stake in Agnico Eagle Mines Limited by 52.8% in the first quarter. Financial Architects Inc now owns 2,605 shares of the mining company’s stock valued at $111,000 after buying an additional 900 shares in the last quarter. IFP Advisors Inc boosted its stake in Agnico Eagle Mines Limited by 9.8% in the first quarter. IFP Advisors Inc now owns 2,639 shares of the mining company’s stock valued at $112,000 after buying an additional 235 shares in the last quarter. WFG Advisors LP boosted its stake in Agnico Eagle Mines Limited by 76.6% in the first quarter. WFG Advisors LP now owns 3,580 shares of the mining company’s stock valued at $152,000 after buying an additional 1,553 shares in the last quarter. Wetherby Asset Management Inc. purchased a new stake in Agnico Eagle Mines Limited during the first quarter valued at about $210,000. Finally, Fruth Investment Management purchased a new stake in Agnico Eagle Mines Limited during the second quarter valued at about $212,000. 60.78% of the stock is currently owned by institutional investors.

A number of research analysts have weighed in on AEM shares. TD Securities reaffirmed a “hold” rating and issued a $48.00 price objective on shares of Agnico Eagle Mines Limited in a report on Friday, April 28th. Zacks Investment Research cut shares of Agnico Eagle Mines Limited from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. Raymond James Financial, Inc. reaffirmed an “outperform” rating and issued a $61.00 price objective on shares of Agnico Eagle Mines Limited in a report on Thursday, June 15th. Scotiabank reaffirmed an “outperform” rating and issued a $56.50 price objective on shares of Agnico Eagle Mines Limited in a report on Friday, April 28th. Finally, J P Morgan Chase & Co raised shares of Agnico Eagle Mines Limited from a “neutral” rating to an “overweight” rating in a report on Wednesday, March 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” 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.

Earnings History for Agnico Eagle Mines Limited (NYSE:AEM)

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