Brokerages Set Agnico Eagle Mines Limited (AEM) PT at $54.93

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have received a consensus recommendation of “Buy” from the twelve brokerages that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $54.93.

Several research analysts have recently issued reports on AEM shares. TD Securities upped their price objective on Agnico Eagle Mines Limited from $48.00 to $52.00 and gave the company a “hold” rating in a research note on Thursday, August 3rd. Zacks Investment Research downgraded Agnico Eagle Mines Limited from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $54.00 price objective on shares of Agnico Eagle Mines Limited in a research note on Tuesday, July 18th. BMO Capital Markets reaffirmed a “hold” rating and issued a $47.00 price objective on shares of Agnico Eagle Mines Limited in a research note on Monday, October 2nd. Finally, Credit Suisse Group set a $63.00 price objective on Agnico Eagle Mines Limited and gave the company a “buy” rating in a research note on Tuesday, July 18th.

Agnico Eagle Mines Limited (NYSE:AEM) traded down 0.07% during trading on Thursday, hitting $45.42. 1,440,491 shares of the company traded hands. The firm has a 50 day moving average of $46.30 and a 200 day moving average of $46.75. Agnico Eagle Mines Limited has a one year low of $35.05 and a one year high of $53.17. The firm has a market cap of $10.50 billion, a P/E ratio of 41.75 and a beta of -0.76.

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Wednesday, July 26th. The mining company reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.10. Agnico Eagle Mines Limited had a return on equity of 5.67% and a net margin of 12.47%. The company had revenue of $549.88 million during the quarter, compared to the consensus estimate of $529.43 million. During the same quarter in the prior year, the firm posted $0.16 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. On average, analysts expect that Agnico Eagle Mines Limited will post $0.92 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.11 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This is a boost from Agnico Eagle Mines Limited’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a yield of 0.97%. Agnico Eagle Mines Limited’s dividend payout ratio is presently 34.19%.

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A number of hedge funds have recently made changes to their positions in the stock. Capstone Asset Management Co. boosted its holdings in Agnico Eagle Mines Limited by 0.3% in the second quarter. Capstone Asset Management Co. now owns 34,381 shares of the mining company’s stock valued at $1,551,000 after acquiring an additional 110 shares during the last quarter. Wetherby Asset Management Inc. boosted its holdings in Agnico Eagle Mines Limited by 3.5% in the second quarter. Wetherby Asset Management Inc. now owns 5,110 shares of the mining company’s stock valued at $230,000 after acquiring an additional 175 shares during the last quarter. WFG Advisors LP boosted its holdings in Agnico Eagle Mines Limited by 8.6% in the second quarter. WFG Advisors LP now owns 3,889 shares of the mining company’s stock valued at $175,000 after acquiring an additional 309 shares during the last quarter. Korea Investment CORP boosted its holdings in Agnico Eagle Mines Limited by 3.1% in the second quarter. Korea Investment CORP now owns 14,258 shares of the mining company’s stock valued at $642,000 after acquiring an additional 428 shares during the last quarter. Finally, Advisor Group Inc. boosted its holdings in Agnico Eagle Mines Limited by 2.5% in the second quarter. Advisor Group Inc. now owns 20,304 shares of the mining company’s stock valued at $916,000 after acquiring an additional 497 shares during the last quarter. Institutional investors and hedge funds own 58.95% of the company’s stock.

Agnico Eagle Mines Limited Company Profile

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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