Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders of record on Friday, May 31st will be given a dividend of 0.219 per share by the mining company on Friday, June 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Thursday, May 30th. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.11.
Agnico Eagle Mines has raised its dividend payment by an average of 11.2% per year over the last three years and has increased its dividend every year for the last 7 years. Agnico Eagle Mines has a payout ratio of 172.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Agnico Eagle Mines to earn $0.84 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 59.5%.
Agnico Eagle Mines stock opened at $41.14 on Friday. Agnico Eagle Mines has a twelve month low of $32.18 and a twelve month high of $47.83. The company has a market cap of $9.66 billion, a PE ratio of 136.40, a P/E/G ratio of 80.24 and a beta of -0.52. The company has a quick ratio of 1.43, a current ratio of 2.96 and a debt-to-equity ratio of 0.39.
Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Thursday, April 25th. The mining company reported $0.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.07. Agnico Eagle Mines had a negative net margin of 15.60% and a positive return on equity of 1.47%. The firm had revenue of $532.20 million during the quarter, compared to the consensus estimate of $515.52 million. During the same period in the prior year, the firm earned $0.15 EPS. The company’s revenue was down 8.0% compared to the same quarter last year. On average, equities analysts expect that Agnico Eagle Mines will post 0.51 EPS for the current fiscal year.
AEM has been the subject of several analyst reports. Desjardins reaffirmed an “average” rating and issued a $63.00 price objective on shares of Agnico Eagle Mines in a report on Wednesday, May 15th. CIBC reaffirmed a “buy” rating and issued a $57.50 price objective on shares of Agnico Eagle Mines in a report on Friday, April 5th. ValuEngine raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Tuesday, February 19th. GMP Securities raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Finally, Barclays downgraded shares of Agnico Eagle Mines from an “overweight” rating to an “equal weight” rating and set a $43.60 price objective for the company. in a report on Tuesday, April 9th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Agnico Eagle Mines has an average rating of “Buy” and a consensus target price of $51.37.
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About Agnico Eagle Mines
Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.
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