Agnico Eagle Mines (TSE:AEM) Releases Quarterly Earnings Results

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) posted its quarterly earnings results on Wednesday. The company reported C$3.72 EPS for the quarter, FiscalAI reports. Agnico Eagle Mines had a net margin of 40.45% and a return on equity of 22.69%. The company had revenue of C$5.10 billion for the quarter.

Agnico Eagle Mines Price Performance

Shares of AEM traded up C$2.33 during trading hours on Wednesday, reaching C$256.08. 711,158 shares of the company’s stock traded hands, compared to its average volume of 1,001,951. Agnico Eagle Mines has a 12 month low of C$188.48 and a 12 month high of C$348.94. The company has a current ratio of 2.86, a quick ratio of 0.89 and a debt-to-equity ratio of 1.12. The stock has a market cap of C$128.29 billion, a PE ratio of 21.92, a price-to-earnings-growth ratio of 22.97 and a beta of 2.00. The firm’s 50 day simple moving average is C$272.38 and its 200-day simple moving average is C$263.17.

Agnico Eagle Mines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 15th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, September 1st. Agnico Eagle Mines’s dividend payout ratio (DPR) is 14.55%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Stifel Nicolaus lowered their target price on Agnico Eagle Mines from C$350.00 to C$310.00 in a research note on Friday, July 17th. Jefferies Financial Group raised Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. TD lowered their price objective on Agnico Eagle Mines from C$244.00 to C$242.00 and set a “buy” rating on the stock in a research note on Tuesday, October 20th. National Bank Financial dropped their price objective on shares of Agnico Eagle Mines from C$315.00 to C$310.00 and set an “outperform” rating on the stock in a report on Tuesday, October 20th. Finally, Freedom Broker downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$292.71.

Insiders Place Their Bets

In other news, Director John Merfyn Roberts sold 1,500 shares of Agnico Eagle Mines stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of C$273.35, for a total transaction of C$410,025.00. Following the completion of the sale, the director directly owned 16,182 shares of the company’s stock, valued at approximately C$4,423,349.70. The trade was a 8.48% decrease in their position. 0.08% of the stock is owned by corporate insiders.

Agnico Eagle Mines Company Profile

Canadian-based and led, Agnico Eagle is Canada’s largest mining company and the second largest gold producer in the world, operating mines in Canada, Australia, Finland and Mexico. The Company is advancing a pipeline of high-quality development projects in these regions to support sustainable growth over the next decade. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.