Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) – Equities researchers at Cormark lifted their Q4 2017 earnings estimates for Agnico Eagle Mines in a note issued to investors on Tuesday. Cormark analyst R. Gray now anticipates that the mining company will earn $0.16 per share for the quarter, up from their previous estimate of $0.14.
AEM has been the subject of several other reports. Desjardins restated a “buy” rating on shares of Agnico Eagle Mines in a research report on Monday, December 11th. BMO Capital Markets set a $47.00 price target on shares of Agnico Eagle Mines and gave the stock a “hold” rating in a research report on Tuesday, November 14th. Zacks Investment Research lowered shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Monday, February 5th. Credit Suisse Group set a $62.00 price target on shares of Agnico Eagle Mines and gave the stock a “buy” rating in a research report on Thursday, December 28th. Finally, TD Securities upped their price target on shares of Agnico Eagle Mines from $53.00 to $55.00 and gave the stock a “hold” rating in a research report on Friday, January 12th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $58.05.
Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Wednesday, February 14th. The mining company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.04). The business had revenue of $565.25 million for the quarter, compared to the consensus estimate of $552.10 million. Agnico Eagle Mines had a net margin of 12.47% and a return on equity of 5.61%. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.04 earnings per share.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 22nd will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.97%. Agnico Eagle Mines’s dividend payout ratio is 37.61%.
Several large investors have recently modified their holdings of AEM. Amundi Pioneer Asset Management Inc. bought a new position in shares of Agnico Eagle Mines during the fourth quarter worth $53,285,000. Flossbach Von Storch AG bought a new position in shares of Agnico Eagle Mines during the fourth quarter worth $38,357,000. Bradley Foster & Sargent Inc. CT boosted its position in shares of Agnico Eagle Mines by 394.4% during the third quarter. Bradley Foster & Sargent Inc. CT now owns 505,558 shares of the mining company’s stock worth $22,856,000 after acquiring an additional 403,295 shares during the last quarter. TD Asset Management Inc. boosted its position in shares of Agnico Eagle Mines by 13.7% during the third quarter. TD Asset Management Inc. now owns 3,254,897 shares of the mining company’s stock worth $146,759,000 after acquiring an additional 393,212 shares during the last quarter. Finally, AGF Investments Inc. raised its stake in Agnico Eagle Mines by 69.7% during the fourth quarter. AGF Investments Inc. now owns 894,749 shares of the mining company’s stock valued at $41,314,000 after purchasing an additional 367,344 shares in the last quarter. Hedge funds and other institutional investors own 58.09% of the company’s stock.
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About Agnico Eagle Mines
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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