Research Analysts Set Expectations for Agnico Eagle Mines Limited’s FY2017 Earnings (AEM)
Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) – Research analysts at Desjardins issued their FY2017 EPS estimates for Agnico Eagle Mines in a report released on Monday. Desjardins analyst J. Wolfson expects that the company will post earnings of $1.36 per share for the year. Desjardins has a “Buy” rating and a $60.00 price objective on the stock. Desjardins also issued estimates for Agnico Eagle Mines’ FY2018 earnings at $1.06 EPS, FY2019 earnings at $1.41 EPS and FY2021 earnings at $1.92 EPS.
A number of other brokerages also recently commented on AEM. Royal Bank of Canada reissued a “sector perform” rating on shares of Agnico Eagle Mines in a report on Monday, September 11th. Eight Capital reissued a “neutral” rating on shares of Agnico Eagle Mines in a report on Thursday, November 16th. Finally, Canaccord Genuity increased their price target on Agnico Eagle Mines from C$73.00 to C$76.00 in a report on Friday, September 29th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of C$65.25.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.137 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.55 annualized dividend and a yield of 1.00%. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.10. Agnico Eagle Mines’s dividend payout ratio is presently 26.67%.
In other news, Director Deborah Mccombe acquired 500 shares of the business’s stock in a transaction on Tuesday, September 19th. The shares were purchased at an average price of C$58.24 per share, for a total transaction of C$29,120.00.
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Agnico Eagle Mines Company Profile
Agnico Eagle Mines Ltd is a Canada-based gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut, as well as exploration activities in Canada, Europe, Latin America and the United States. It operates through the business units: Northern Business, which consists of its operations in Canada and Finland, such as the LaRonde mine, the Lapa mine, the Goldex mine, the Meadowbank mine, the Meliadine project and the Malartic Mine in Canada, as well as the Kittila mine in Finland; Southern Business, which consists of its operations in Mexico, such as the Pinos Altos mine that includes the Creston Mascota deposit and the La India mine owned by its indirect subsidiary, as well as Exploration Group, which focuses on the identification of new mineral reserves and mineral resources, and new development opportunities in gold producing regions.
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