Agnico Eagle Mines Ltd. (AEM) Shares Gap Up to $58.36
Shares of Agnico Eagle Mines Ltd. (NYSE:AEM) gapped up before the market opened on Wednesday . The stock had previously closed at $58.34, but opened at $58.36. Agnico Eagle Mines shares last traded at $59.02, with a volume of 631,226 shares traded.
Several research firms have weighed in on AEM. Citigroup Inc. began coverage on Agnico Eagle Mines in a report on Tuesday, August 2nd. They set a “sell” rating and a $44.00 target price on the stock. Royal Bank Of Canada lowered Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and set a $67.00 target price on the stock. in a report on Monday. RBC Capital Markets lowered Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and set a $67.00 target price on the stock. in a report on Monday. Barclays PLC raised their target price on Agnico Eagle Mines from $50.00 to $61.00 and gave the company an “overweight” rating in a report on Monday. Finally, Dundee Securities lowered Agnico Eagle Mines from a “buy” rating to a “neutral” rating in a report on Thursday, July 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $48.87.
The stock’s 50-day moving average price is $55.29 and its 200-day moving average price is $43.83. The stock has a market capitalization of $13.21 billion and a P/E ratio of 407.59.
Agnico Eagle Mines (NYSE:AEM) last issued 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. The firm earned $537.60 million during the quarter, compared to the consensus estimate of $507.37 million. During the same period in the previous year, the company posted $0.09 earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities analysts forecast that Agnico Eagle Mines Ltd. will post $0.65 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be issued a $0.10 dividend. The ex-dividend date is Tuesday, August 30th. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.68%.
Other large investors have recently modified their holdings of the company. Cheviot Value Management LLC boosted its stake in shares of Agnico Eagle Mines by 41.5% in the fourth quarter. Cheviot Value Management LLC now owns 88,278 shares of the mining company’s stock worth $2,320,000 after buying an additional 25,908 shares during the last quarter. State of Wisconsin Investment Board boosted its position in 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 boosted its position in 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. Bridgewater Associates LP boosted its position in Agnico Eagle Mines by 22.8% in the fourth quarter. Bridgewater Associates LP now owns 323,801 shares of the mining company’s stock valued at $8,509,000 after buying an additional 60,210 shares in the last quarter. Finally, Airain ltd bought a new position in Agnico Eagle Mines during the fourth quarter valued at $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.