Agnico Eagle Mines Ltd. (AEM) Shares Down 2.4%
Agnico Eagle Mines Ltd. (NYSE:AEM) was down 2.4% during trading on Tuesday . The company traded as low as $51.96 and last traded at $52.04, with a volume of 985,470 shares. The stock had previously closed at $53.30.
Several equities research analysts recently commented on the company. Desjardins raised Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research report on Wednesday, July 13th. HSBC reissued a “buy” rating on shares of Agnico Eagle Mines in a research report on Thursday, July 7th. Credit Suisse Group AG reissued a “buy” rating on shares of Agnico Eagle Mines in a research report on Saturday, June 4th. Sterne Agee CRT reissued a “buy” rating on shares of Agnico Eagle Mines in a research report on Monday, May 16th. Finally, Zacks Investment Research raised Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $50.91.
The company has a market capitalization of $11.65 billion and a PE ratio of 359.45. The company has a 50-day moving average price of $55.88 and a 200 day moving average price of $46.39.
Agnico Eagle Mines (NYSE:AEM) last released its earnings results on Thursday, July 28th. The mining company reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.06. During the same quarter last year, the business posted $0.09 earnings per share. The company earned $537.60 million during the quarter, compared to analysts’ expectations of $507.37 million. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities analysts forecast that Agnico Eagle Mines Ltd. will post $0.66 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 1st will be issued a $0.10 dividend. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $0.40 dividend on an annualized basis and a yield of 0.79%.
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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