Agnico Eagle Mines Limited Declares Quarterly Dividend of $0.45 (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) announced a quarterly dividend on Thursday, February 12th. Investors of record on Monday, June 1st will be given a dividend of 0.45 per share by the mining company on Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Monday, June 1st.

Agnico Eagle Mines has decreased its dividend payment by an average of 0.0%annually over the last three years. Agnico Eagle Mines has a dividend payout ratio of 28.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Agnico Eagle Mines to earn $13.39 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 13.4%.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock opened at $183.56 on Friday. Agnico Eagle Mines has a 52-week low of $114.60 and a 52-week high of $255.24. The company has a market cap of $91.87 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 3.88 and a beta of 0.58. The company has a quick ratio of 2.18, a current ratio of 3.15 and a debt-to-equity ratio of 0.01. The firm’s fifty day moving average is $195.01 and its 200 day moving average is $194.38.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the prior year, the firm posted $1.53 earnings per share. The business’s revenue for the quarter was up 66.1% on a year-over-year basis. Sell-side analysts forecast that Agnico Eagle Mines will post 13.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AEM has been the topic of several recent analyst reports. Canadian Imperial Bank of Commerce increased their target price on shares of Agnico Eagle Mines from C$304.00 to C$310.00 and gave the company an “outperform” rating in a research note on Tuesday. Weiss Ratings downgraded shares of Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. Erste Group Bank downgraded shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Tuesday, March 24th. ATB Cormark Capital Markets raised shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research note on Monday, May 4th. Finally, Zacks Research downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.08.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.