Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) had its target price boosted by equities researchers at Royal Bank of Canada from $58.00 to $63.00 in a report released on Thursday, May 11th. The brokerage currently has a “sector perform” rating on the mining company’s stock. Royal Bank of Canada’s price target points to a potential upside of 34.50% from the company’s previous close.
A number of other research firms have also weighed in on AEM. Credit Suisse Group reaffirmed a “buy” rating on shares of Agnico Eagle Mines Limited in a research report on Wednesday, February 15th. TD Securities reissued a “hold” rating and issued a $48.00 target price on shares of Agnico Eagle Mines Limited in a report on Friday, April 28th. Zacks Investment Research raised Agnico Eagle Mines Limited from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 24th. J P Morgan Chase & Co upgraded Agnico Eagle Mines Limited from a “neutral” rating to an “overweight” rating in a research note on Wednesday, March 29th. Finally, Barclays PLC dropped their price target on Agnico Eagle Mines Limited from $58.00 to $53.00 and set an “overweight” rating on the stock in a research note on Monday, March 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $53.72.
Shares of Agnico Eagle Mines Limited (NYSE AEM) opened at 46.84 on Thursday. The company has a market capitalization of $10.78 billion, a PE ratio of 52.04 and a beta of -0.63. The stock has a 50 day moving average price of $48.04 and a 200-day moving average price of $44.89. Agnico Eagle Mines Limited has a 52 week low of $35.05 and a 52 week high of $60.10.
Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) last released its earnings results on Thursday, April 27th. The mining company reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.17. The company had revenue of $547.50 million during the quarter, compared to analysts’ expectations of $528.14 million. Agnico Eagle Mines Limited had a return on equity of 4.57% and a net margin of 9.43%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.12 EPS. Equities research analysts expect that Agnico Eagle Mines Limited will post $0.73 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st were paid a dividend of $0.10 per share. The ex-dividend date was Tuesday, May 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.85%. Agnico Eagle Mines Limited’s dividend payout ratio is 43.96%.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp raised its stake in shares of Agnico Eagle Mines Limited by 4.4% in the first quarter. Van ECK Associates Corp now owns 17,122,389 shares of the mining company’s stock worth $726,674,000 after buying an additional 717,045 shares during the last quarter. FMR LLC raised its stake in shares of Agnico Eagle Mines Limited by 8.5% in the fourth quarter. FMR LLC now owns 11,200,604 shares of the mining company’s stock worth $470,916,000 after buying an additional 874,108 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Agnico Eagle Mines Limited by 4.4% in the first quarter. Vanguard Group Inc. now owns 5,092,431 shares of the mining company’s stock worth $216,122,000 after buying an additional 215,145 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Agnico Eagle Mines Limited by 9.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,941,418 shares of the mining company’s stock worth $158,793,000 after buying an additional 264,625 shares during the last quarter. Finally, TD Asset Management Inc. raised its stake in Agnico Eagle Mines Limited by 4.1% in the first quarter. TD Asset Management Inc. now owns 2,775,540 shares of the mining company’s stock worth $117,419,000 after buying an additional 108,199 shares in the last quarter. 61.04% of the stock is currently owned by hedge funds and other institutional investors.
About Agnico Eagle Mines Limited
Agnico Eagle Mines Limited is a gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut and exploration activities in Canada, Europe, Latin America and the United States. The Company operates through three business units. The Northern Business consists of its operations in Canada and Finland.
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