Agnico Eagle Mines Ltd. (AEM) Shares Down 3%
Agnico Eagle Mines Ltd. (NYSE:AEM)’s share price fell 3% during trading on Friday . The company traded as low as $57.72 and last traded at $57.95, with a volume of 1,203,450 shares trading hands. The stock had previously closed at $59.77.
A number of research firms have issued reports on AEM. BMO Capital Markets downgraded Agnico Eagle Mines from an “outperform” rating to a “market perform” rating in a report on Thursday, May 12th. CIBC increased their price objective on Agnico Eagle Mines from $37.50 to $44.50 in a report on Friday, April 8th. Desjardins upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Wednesday, July 13th. Zacks Investment Research upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a report on Monday, July 18th. Finally, Vetr downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating and set a $42.34 price objective for the company. in a report on Tuesday, April 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $45.41.
The company has a 50-day moving average of $54.59 and a 200-day moving average of $43.04. The company has a market cap of $12.94 billion and a PE ratio of 399.45.
Agnico Eagle Mines (NYSE:AEM) last released its quarterly earnings results on Thursday, July 28th. The mining company reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.06. The company earned $537.60 million during the quarter, compared to the consensus estimate of $507.37 million. The company’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.09 earnings per share. On average, analysts expect that Agnico Eagle Mines Ltd. will post $0.64 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.69%. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.08. The ex-dividend date is Tuesday, August 30th.
A number of hedge funds and institutional investors have made changes to their positions in AEM. 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 valued at $4,944,000 after buying an additional 77,300 shares in the last quarter. 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 valued at $1,768,000 after buying an additional 4,500 shares in the last quarter. Finally, Airain ltd acquired a new position in shares of Agnico Eagle Mines during the fourth quarter valued at about $3,419,000.
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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