Agnico Eagle Mines (TSE:AEM) Rating Increased to Strong-Buy at Barclays

Barclays upgraded shares of Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) to a strong-buy rating in a research note released on Thursday morning,Zacks.com reports.

Other analysts have also issued reports about the stock. National Bank Financial boosted their price target on shares of Agnico Eagle Mines from C$345.00 to C$350.00 and gave the stock a “sector outperform” rating in a research note on Monday, May 4th. BMO Capital Markets boosted their price target on shares of Agnico Eagle Mines from C$350.00 to C$370.00 in a research note on Wednesday, April 22nd. Erste Group Bank lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 24th. ATB Cormark Capital Markets upgraded shares of Agnico Eagle Mines from a “sector” rating to an “outperform” rating in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. cut their target price on shares of Agnico Eagle Mines from C$321.00 to C$300.00 in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and a consensus price target of C$318.83.

Agnico Eagle Mines Stock Down 0.8%

Shares of TSE:AEM opened at C$242.94 on Thursday. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.15 and a quick ratio of 0.89. The firm has a market capitalization of C$121.48 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 22.97 and a beta of 1.87. The firm’s 50-day moving average is C$272.33 and its two-hundred day moving average is C$266.94. Agnico Eagle Mines has a 1 year low of C$156.93 and a 1 year high of C$348.94.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last issued its quarterly earnings results on Thursday, April 30th. The company reported C$4.73 earnings per share (EPS) for the quarter. The company had revenue of C$5.70 billion for the quarter. Agnico Eagle Mines had a net margin of 39.48% and a return on equity of 22.08%. Analysts predict that Agnico Eagle Mines will post 5.4966052 EPS for the current year.

Agnico Eagle Mines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 16th were paid a dividend of $0.45 per share. The ex-dividend date was Monday, March 2nd. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.7%. Agnico Eagle Mines’s payout ratio is currently 15.54%.

About Agnico Eagle Mines

Canadian-based and led, Agnico Eagle is Canada’s largest mining company and the second largest gold producer in the world, operating mines in Canada, Australia, Finland and Mexico. The Company is advancing a pipeline of high-quality development projects in these regions to support sustainable growth over the next decade. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.