Agnico Eagle Mines Limited (NYSE:AEM) Receives Average Recommendation of “Buy” from Brokerages

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have received a consensus rating of “Buy” from the twelve ratings firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and four have assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $124.40.

A number of research firms have recently commented on AEM. Stifel Canada raised shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Wednesday, March 19th. National Bank Financial raised shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Friday, March 21st. UBS Group upped their target price on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, April 11th. Scotiabank reiterated an “outperform” rating on shares of Agnico Eagle Mines in a research note on Monday, April 14th. Finally, Cfra Research upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research note on Friday, April 25th.

Institutional Investors Weigh In On Agnico Eagle Mines

Several institutional investors and hedge funds have recently bought and sold shares of the business. Zurich Insurance Group Ltd FI increased its holdings in Agnico Eagle Mines by 32.6% in the 1st quarter. Zurich Insurance Group Ltd FI now owns 509,058 shares of the mining company’s stock valued at $55,214,000 after buying an additional 125,223 shares during the period. United Services Automobile Association grew its holdings in shares of Agnico Eagle Mines by 4.6% in the 1st quarter. United Services Automobile Association now owns 16,865 shares of the mining company’s stock worth $1,813,000 after purchasing an additional 735 shares during the last quarter. Everstar Asset Management LLC grew its holdings in shares of Agnico Eagle Mines by 13.3% in the 1st quarter. Everstar Asset Management LLC now owns 6,669 shares of the mining company’s stock worth $723,000 after purchasing an additional 781 shares during the last quarter. Knightsbridge Asset Management LLC bought a new stake in shares of Agnico Eagle Mines in the 1st quarter worth about $214,000. Finally, Scientech Research LLC bought a new stake in shares of Agnico Eagle Mines in the 1st quarter worth about $737,000. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Down 0.1%

NYSE:AEM opened at $106.39 on Wednesday. Agnico Eagle Mines has a 12 month low of $63.01 and a 12 month high of $126.76. The firm has a market cap of $53.54 billion, a price-to-earnings ratio of 28.15, a P/E/G ratio of 0.66 and a beta of 0.54. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $110.63 and its 200-day moving average is $95.53.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Thursday, April 24th. The mining company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.14. Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. The company had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter last year, the firm posted $0.76 earnings per share. The company’s quarterly revenue was up 34.9% compared to the same quarter last year. Equities analysts anticipate that Agnico Eagle Mines will post 4.63 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Monday, December 1st. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 34.04%.

Agnico Eagle Mines Company Profile

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.