Agnico Eagle Mines Ltd. (AEM) Reaches New 1-Year High at $56.69
Agnico Eagle Mines Ltd. (NYSE:AEM) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $56.69 and last traded at $56.55, with a volume of 1,223,867 shares traded. The stock had previously closed at $54.28.
Several research analysts recently weighed in on the stock. CIBC upped their price objective on shares of Agnico Eagle Mines from $37.50 to $44.50 in a research report on Friday, April 8th. Vetr upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $44.84 price objective on the stock in a research report on Thursday, April 21st. Sterne Agee CRT restated a “buy” rating on shares of Agnico Eagle Mines in a research report on Monday, May 16th. Royal Bank Of Canada upped their price objective on shares of Agnico Eagle Mines from $34.00 to $42.00 in a research report on Tuesday, April 12th. Finally, HSBC restated a “buy” rating on shares of Agnico Eagle Mines in a research report on Thursday, July 7th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Agnico Eagle Mines has a consensus rating of “Buy” and a consensus target price of $42.40.
The company has a 50 day moving average price of $50.63 and a 200 day moving average price of $39.76. The firm has a market capitalization of $12.51 billion and a P/E ratio of 520.64.
Agnico Eagle Mines (NYSE:AEM) last issued its quarterly earnings data on Thursday, April 28th. The mining company reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.13. The firm had revenue of $490.53 million for the quarter, compared to analysts’ expectations of $480.22 million. During the same period last year, the company earned $0.15 earnings per share. The firm’s revenue was up 1.4% on a year-over-year basis. On average, equities research analysts expect that Agnico Eagle Mines Ltd. will post $0.51 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st were issued a dividend of $0.08 per share. The ex-dividend date was Friday, May 27th. This represents a $0.32 annualized dividend and a dividend yield of 0.59%.
Other hedge funds have recently modified their holdings of the company. State of Wisconsin Investment Board boosted its stake in shares of Agnico Eagle Mines by 69.3% in the fourth quarter. State of Wisconsin Investment Board now owns 188,821 shares of the mining company’s stock valued at $4,944,000 after buying an additional 77,300 shares during the period. Gabelli Funds LLC boosted its stake in shares of Agnico Eagle Mines by 1.8% in the fourth quarter. Gabelli Funds LLC now owns 2,207,382 shares of the mining company’s stock valued at $58,010,000 after buying an additional 38,402 shares during the period. Finally, Gulf International Bank UK Ltd boosted its stake in shares of Agnico Eagle Mines by 7.2% in the fourth quarter. Gulf International Bank UK Ltd now owns 67,228 shares of the mining company’s stock valued at $1,768,000 after buying an additional 4,500 shares during the period.
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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