Shares of Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) have been given a consensus rating of “Buy” by the twelve brokerages that are currently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $68.25.
A number of analysts have issued reports on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 price objective on shares of Agnico Eagle Mines in a report on Thursday, December 5th. Raymond James reiterated an “outperform” rating and set a $74.00 price objective on shares of Agnico Eagle Mines in a research report on Friday, October 25th. National Bank Financial upped their price objective on shares of Agnico Eagle Mines from $100.00 to $102.00 and gave the stock an “outperform” rating in a research report on Sunday, October 27th. CIBC reiterated a “buy” rating on shares of Agnico Eagle Mines in a research report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. upped their price target on shares of Agnico Eagle Mines from $68.00 to $83.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th.
A number of hedge funds and other institutional investors have recently modified their holdings of AEM. Vanguard Group Inc. raised its holdings in shares of Agnico Eagle Mines by 2.3% in the second quarter. Vanguard Group Inc. now owns 6,907,123 shares of the mining company’s stock valued at $353,921,000 after purchasing an additional 154,867 shares during the last quarter. Findlay Park Partners LLP boosted its position in shares of Agnico Eagle Mines by 84.1% in the third quarter. Findlay Park Partners LLP now owns 5,410,171 shares of the mining company’s stock valued at $290,039,000 after acquiring an additional 2,471,771 shares during the period. CIBC Asset Management Inc boosted its position in shares of Agnico Eagle Mines by 8.5% in the second quarter. CIBC Asset Management Inc now owns 4,671,927 shares of the mining company’s stock valued at $239,522,000 after acquiring an additional 367,372 shares during the period. TD Asset Management Inc. boosted its position in shares of Agnico Eagle Mines by 1.8% in the second quarter. TD Asset Management Inc. now owns 4,258,323 shares of the mining company’s stock valued at $218,790,000 after acquiring an additional 76,138 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Agnico Eagle Mines by 75.6% in the second quarter. Invesco Ltd. now owns 2,878,319 shares of the mining company’s stock valued at $147,483,000 after acquiring an additional 1,239,129 shares during the period. 60.22% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE AEM traded down $0.56 during midday trading on Tuesday, reaching $58.74. 37,311 shares of the company’s stock were exchanged, compared to its average volume of 1,056,688. Agnico Eagle Mines has a 52-week low of $38.17 and a 52-week high of $64.88. The stock has a market capitalization of $14.46 billion, a PE ratio of 80.43, a price-to-earnings-growth ratio of 63.36 and a beta of -0.55. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.70 and a current ratio of 1.42. The business’s fifty day moving average price is $58.91 and its two-hundred day moving average price is $54.84.
Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Wednesday, October 23rd. The mining company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.10. The firm had revenue of $683.00 million during the quarter, compared to analyst estimates of $683.18 million. Agnico Eagle Mines had a positive return on equity of 3.80% and a negative net margin of 11.06%. Agnico Eagle Mines’s quarterly revenue was up 31.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.01 earnings per share. Analysts predict that Agnico Eagle Mines will post 0.95 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 27th will be paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Wednesday, November 27th.
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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