Agnico Eagle Mines Ltd. (AEM) Stock Price Up 1.1%
Shares of Agnico Eagle Mines Ltd. (NYSE:AEM) rose 1.1% during mid-day trading on Tuesday . The company traded as high as $59.62 and last traded at $59.55, with a volume of 1,099,191 shares changing hands. The stock had previously closed at $58.89.
AEM has been the topic of a number of analyst reports. CIBC lifted their price objective 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 “sell” rating to a “buy” rating and set a $42.34 price objective on the stock in a research note on Monday, April 11th. Royal Bank Of Canada lifted their price target on shares of Agnico Eagle Mines from $34.00 to $42.00 in a research note on Tuesday, April 12th. Zacks Investment Research upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Wednesday, May 4th. Finally, BMO Capital Markets lowered shares of Agnico Eagle Mines from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $45.41.
The company has a 50-day moving average of $53.64 and a 200-day moving average of $42.46. The company has a market cap of $13.27 billion and a PE ratio of 409.52.
Agnico Eagle Mines (NYSE:AEM) last announced its 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 firm earned $537.60 million during the quarter, compared to analyst estimates of $507.37 million. During the same quarter last year, the business earned $0.09 earnings per share. Agnico Eagle Mines’s revenue was up 5.4% on a year-over-year basis. Analysts expect that Agnico Eagle Mines Ltd. will post $0.65 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $0.40 annualized dividend and a yield of 0.67%. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.08.
Other large investors have recently made changes to their positions in the company. Airain ltd purchased a new stake in shares of Agnico Eagle Mines during the fourth quarter valued at $3,419,000. Gulf International Bank UK Ltd increased 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. Finally, State of Wisconsin Investment Board increased 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.
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.