Agnico Eagle Mines’ (AEM) Sector Perform Rating Reaffirmed at RBC Capital Markets
Other equities analysts have also recently issued reports about the company. Credit Suisse Group AG reiterated a buy rating on shares of Agnico Eagle Mines in a research report on Saturday, June 4th. Royal Bank Of Canada cut Agnico Eagle Mines from an outperform rating to a sector perform rating and set a $67.00 price target for the company. in a research report on Monday, August 8th. Zacks Investment Research upgraded Agnico Eagle Mines from a hold rating to a buy rating and set a $63.00 price target for the company in a research report on Monday, July 18th. Citigroup Inc. reiterated a sell rating on shares of Agnico Eagle Mines in a research report on Thursday, August 18th. Finally, Desjardins upgraded Agnico Eagle Mines from a hold rating to a buy rating in a research report on Wednesday, July 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $51.93.
Agnico Eagle Mines (NYSE:AEM) opened at 52.16 on Monday. The firm has a market capitalization of $11.66 billion, a price-to-earnings ratio of 359.72 and a beta of -0.57. The stock’s 50 day moving average price is $55.19 and its 200 day moving average price is $48.05. Agnico Eagle Mines has a 52-week low of $22.75 and a 52-week high of $60.10.
Agnico Eagle Mines (NYSE:AEM) last announced its quarterly earnings results on Thursday, July 28th. The mining company reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.06. The company earned $537.60 million during the quarter, compared to analysts’ expectations of $507.37 million. Agnico Eagle Mines had a return on equity of 1.88% and a net margin of 1.61%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 earnings per share. On average, equities analysts anticipate that Agnico Eagle Mines will post $0.66 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Tuesday, August 30th. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.08. Agnico Eagle Mines’s payout ratio is currently 213.35%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc increased its position in shares of Agnico Eagle Mines by 7.8% in the second quarter. IFP Advisors Inc now owns 2,174 shares of the mining company’s stock worth $116,000 after buying an additional 157 shares in the last quarter. USA Mutuals Advisors Inc. acquired a new position in shares of Agnico Eagle Mines during the first quarter worth about $181,000. Seven Eight Capital LLC acquired a new position in shares of Agnico Eagle Mines during the second quarter worth about $198,000. Cipher Capital LP acquired a new position in shares of Agnico Eagle Mines during the second quarter worth about $216,000. Finally, US Bancorp DE increased its position in shares of Agnico Eagle Mines by 12.3% in the second quarter. US Bancorp DE now owns 4,346 shares of the mining company’s stock worth $232,000 after buying an additional 476 shares in the last quarter. Institutional investors own 63.74% of the company’s stock.
About Agnico Eagle Mines
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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