Agnico Eagle Mines Ltd. (AEM) Shares Up 3.4%
Agnico Eagle Mines Ltd. (NYSE:AEM) shot up 3.4% on Thursday . The company traded as high as $52.49 and last traded at $52.39, with a volume of 1,338,094 shares trading hands. The stock had previously closed at $50.65.
A number of brokerages recently weighed in on AEM. Credit Suisse Group AG restated a “buy” rating on shares of Agnico Eagle Mines in a research note on Saturday, June 4th. Royal Bank Of Canada cut shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and set a $67.00 price objective on the stock. in a research note on Monday, August 8th. Zacks Investment Research cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Friday, May 6th. RBC Capital Markets cut shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and set a $67.00 price objective on the stock. in a research note on Monday, August 8th. Finally, Desjardins raised Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Wednesday, July 13th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $50.91.
The stock has a market capitalization of $11.64 billion and a price-to-earnings ratio of 359.24. The stock’s 50 day moving average is $55.88 and its 200 day moving average is $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 for the quarter, beating the consensus estimate of $0.10 by $0.06. The company earned $537.60 million during the quarter, compared to analyst estimates of $507.37 million. During the same period in the previous year, the company posted $0.09 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities research analysts anticipate that Agnico Eagle Mines Ltd. will post $0.66 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 0.77%. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.08.
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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