Agnico Eagle Mines Ltd. (AEM) Trading Up 1.1%
Agnico Eagle Mines Ltd. (NYSE:AEM) was up 1.1% on Tuesday . The stock traded as high as $59.62 and last traded at $59.55, with a volume of 1,099,191 shares trading hands. The stock had previously closed at $58.89.
Several equities research analysts recently weighed in on AEM shares. CIBC increased their target price on shares of Agnico Eagle Mines from $37.50 to $44.50 in a research note on Friday, April 8th. Vetr upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $44.84 target price for the company in a research note on Thursday, April 21st. Sterne Agee CRT reiterated a “buy” rating on shares of Agnico Eagle Mines in a research note on Monday, May 16th. Royal Bank Of Canada increased their target price on shares of Agnico Eagle Mines from $34.00 to $42.00 in a research note on Tuesday, April 12th. Finally, HSBC reiterated a “buy” rating on shares of Agnico Eagle Mines in a research note on Thursday, July 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $45.41.
The firm has a market capitalization of $13.41 billion and a PE ratio of 413.72. The company has a 50 day moving average price of $54.13 and a 200-day moving average price of $42.81.
Agnico Eagle Mines (NYSE:AEM) last announced its earnings results on Thursday, July 28th. The mining company reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.06. During the same quarter in the previous year, the company earned $0.09 EPS. The business had revenue of $537.60 million for the quarter, compared to analyst estimates of $507.37 million. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities research analysts forecast that Agnico Eagle Mines Ltd. will post $0.64 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be given a dividend of $0.10 per share. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.08. The ex-dividend date is Tuesday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.67%.
Other hedge funds and institutional investors have made changes to their positions in the company. Gulf International Bank UK Ltd raised its position 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 worth $1,768,000 after buying an additional 4,500 shares during the last quarter. Airain ltd acquired a new position in shares of Agnico Eagle Mines during the fourth quarter worth about $3,419,000. Finally, State of Wisconsin Investment Board raised its position 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 worth $4,944,000 after buying an additional 77,300 shares during the last quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.