Agnico Eagle Mines (NYSE:AEM) Earns Outperform Rating from Analysts at BMO Capital Markets

BMO Capital Markets started coverage on shares of Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) in a research report sent to investors on Wednesday. The brokerage issued an outperform rating and a $181.00 price target on the mining company’s stock.

A number of other equities research analysts have also recently commented on AEM. National Bank Financial raised shares of Agnico Eagle Mines to a “strong-buy” rating in a research note on Friday, March 21st. Jefferies Financial Group increased their price target on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Tuesday, January 7th. TD Securities cut their price objective on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Raymond James upped their target price on Agnico Eagle Mines from $105.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, April 4th. Finally, UBS Group raised their price target on Agnico Eagle Mines from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, April 11th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines presently has an average rating of “Buy” and a consensus target price of $124.40.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM opened at $121.58 on Wednesday. The firm has a market capitalization of $61.19 billion, a price-to-earnings ratio of 32.16, a price-to-earnings-growth ratio of 0.66 and a beta of 0.87. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.86 and a quick ratio of 0.86. The business’s 50 day simple moving average is $103.84 and its 200-day simple moving average is $91.07. Agnico Eagle Mines has a 12 month low of $61.56 and a 12 month high of $125.94.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Thursday, February 13th. The mining company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. As a group, equities analysts forecast that Agnico Eagle Mines will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.60 annualized dividend and a yield of 1.32%. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 42.33%.

Institutional Trading of Agnico Eagle Mines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Benjamin Edwards Inc. boosted its position in shares of Agnico Eagle Mines by 2.0% in the fourth quarter. Benjamin Edwards Inc. now owns 5,472 shares of the mining company’s stock worth $428,000 after acquiring an additional 106 shares during the last quarter. Duncker Streett & Co. Inc. raised its stake in Agnico Eagle Mines by 37.3% during the fourth quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock worth $32,000 after purchasing an additional 112 shares during the period. Laird Norton Wetherby Wealth Management LLC boosted its holdings in shares of Agnico Eagle Mines by 1.8% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,944 shares of the mining company’s stock valued at $543,000 after purchasing an additional 120 shares during the last quarter. Pinnacle Wealth Management Group Inc. grew its stake in shares of Agnico Eagle Mines by 0.5% during the 4th quarter. Pinnacle Wealth Management Group Inc. now owns 24,407 shares of the mining company’s stock valued at $1,909,000 after buying an additional 125 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of Agnico Eagle Mines by 19.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 774 shares of the mining company’s stock valued at $84,000 after buying an additional 125 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.