Agnico Eagle Mines (NYSE:AEM) Announces Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) posted its quarterly earnings results on Thursday. The mining company reported $2.69 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.13, Zacks reports. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.40 billion. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.64%. Agnico Eagle Mines’s revenue was up 60.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.26 earnings per share.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at $205.35 on Friday. The firm has a market capitalization of $102.81 billion, a PE ratio of 29.98, a price-to-earnings-growth ratio of 0.49 and a beta of 0.63. Agnico Eagle Mines has a one year low of $92.11 and a one year high of $225.00. The stock’s 50 day moving average price is $188.56 and its 200 day moving average price is $166.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.12.

Agnico Eagle Mines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Monday, March 2nd. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s dividend payout ratio (DPR) is 23.36%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. CIBC Private Wealth Group LLC boosted its stake in shares of Agnico Eagle Mines by 1.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,289 shares of the mining company’s stock valued at $728,000 after purchasing an additional 67 shares during the period. Rossby Financial LCC grew its stake in shares of Agnico Eagle Mines by 1.1% during the fourth quarter. Rossby Financial LCC now owns 7,061 shares of the mining company’s stock valued at $1,197,000 after acquiring an additional 74 shares in the last quarter. Evergreen Capital Management LLC grew its stake in shares of Agnico Eagle Mines by 0.9% during the second quarter. Evergreen Capital Management LLC now owns 8,232 shares of the mining company’s stock valued at $979,000 after acquiring an additional 77 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Agnico Eagle Mines by 2.4% during the second quarter. Brown Advisory Inc. now owns 3,378 shares of the mining company’s stock worth $402,000 after acquiring an additional 79 shares during the last quarter. Finally, Royal London Asset Management Ltd. lifted its stake in shares of Agnico Eagle Mines by 0.3% in the second quarter. Royal London Asset Management Ltd. now owns 23,837 shares of the mining company’s stock worth $2,835,000 after acquiring an additional 79 shares in the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AEM has been the subject of a number of research analyst reports. Raymond James Financial restated an “outperform” rating and set a $225.00 price objective on shares of Agnico Eagle Mines in a report on Wednesday, January 14th. Jefferies Financial Group set a $189.00 price target on Agnico Eagle Mines in a research note on Sunday, December 7th. Wall Street Zen lowered Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 31st. UBS Group reissued a “neutral” rating and set a $240.00 target price on shares of Agnico Eagle Mines in a research report on Friday, January 30th. Finally, Zacks Research cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Agnico Eagle Mines presently has an average rating of “Moderate Buy” and an average price target of $230.64.

View Our Latest Report on AEM

Key Headlines Impacting Agnico Eagle Mines

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About Agnico Eagle Mines

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Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.

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Earnings History for Agnico Eagle Mines (NYSE:AEM)

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