Analysts Set Agnico Eagle Mines Limited (AEM) PT at $54.81

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have earned a consensus rating of “Buy” from the thirteen analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $54.81.

A number of equities research analysts have issued reports on AEM shares. TD Securities reaffirmed a “hold” rating and issued a $48.00 price objective on shares of Agnico Eagle Mines Limited in a research report on Friday, April 28th. Zacks Investment Research downgraded shares of Agnico Eagle Mines Limited from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. Credit Suisse Group AG set a $63.00 price objective on shares of Agnico Eagle Mines Limited and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Raymond James Financial, Inc. reaffirmed an “outperform” rating and issued a $61.00 price objective on shares of Agnico Eagle Mines Limited in a research report on Thursday, June 15th. Finally, Scotiabank reaffirmed an “outperform” rating and issued a $56.50 price objective on shares of Agnico Eagle Mines Limited in a research report on Friday, April 28th.

Shares of Agnico Eagle Mines Limited (AEM) traded down 0.70% during midday trading on Friday, reaching $45.67. 1,020,022 shares of the company traded hands. The company has a 50-day moving average of $45.41 and a 200 day moving average of $45.90. Agnico Eagle Mines Limited has a 12-month low of $35.05 and a 12-month high of $58.72. The firm has a market capitalization of $10.56 billion, a PE ratio of 41.98 and a beta of -0.67.

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Wednesday, July 26th. The mining company reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.10. Agnico Eagle Mines Limited had a net margin of 11.32% and a return on equity of 5.38%. The business had revenue of $549.88 million during the quarter, compared to the consensus estimate of $529.43 million. During the same period in the prior year, the firm posted $0.16 EPS. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities analysts forecast that Agnico Eagle Mines Limited will post $0.78 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Wednesday, August 30th. Agnico Eagle Mines Limited’s dividend payout ratio is currently 36.70%.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Manhattan Co. increased its position in Agnico Eagle Mines Limited by 56.3% in the first quarter. First Manhattan Co. now owns 23,805 shares of the mining company’s stock worth $1,289,000 after buying an additional 8,576 shares in the last quarter. Engineers Gate Manager LP increased its position in Agnico Eagle Mines Limited by 12.1% in the first quarter. Engineers Gate Manager LP now owns 27,800 shares of the mining company’s stock worth $1,180,000 after buying an additional 3,011 shares in the last quarter. Bank of Nova Scotia increased its position in Agnico Eagle Mines Limited by 23.7% in the first quarter. Bank of Nova Scotia now owns 604,615 shares of the mining company’s stock worth $25,653,000 after buying an additional 115,787 shares in the last quarter. Skandinaviska Enskilda Banken AB publ bought a new position in Agnico Eagle Mines Limited during the first quarter worth $968,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its position in Agnico Eagle Mines Limited by 26.7% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 6,970 shares of the mining company’s stock worth $295,000 after buying an additional 1,470 shares in the last quarter. 60.28% of the stock is 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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