FY2017 Earnings Forecast for Agnico Eagle Mines Limited Issued By Desjardins (AEM)
Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) – Research analysts at Desjardins issued their FY2017 earnings per share (EPS) estimates for shares of Agnico Eagle Mines in a report issued on Monday. Desjardins analyst J. Wolfson expects that the company will post earnings of $1.36 per share for the year. Desjardins currently has a “Buy” rating and a $60.00 price target on the stock. Desjardins also issued estimates for Agnico Eagle Mines’ FY2018 earnings at $1.06 EPS, FY2019 earnings at $1.41 EPS and FY2021 earnings at $1.92 EPS.
Several other analysts have also recently commented on the company. Eight Capital restated a “neutral” rating on shares of Agnico Eagle Mines in a report on Thursday, November 16th. Royal Bank of Canada restated a “sector perform” rating on shares of Agnico Eagle Mines in a report on Monday, September 11th. Finally, Canaccord Genuity increased their target price on Agnico Eagle Mines from C$77.00 to C$78.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of C$65.25.
Shares of Agnico Eagle Mines (TSE AEM) opened at C$54.69 on Tuesday. Agnico Eagle Mines has a 1 year low of C$46.91 and a 1 year high of C$68.76.
In other Agnico Eagle Mines news, Director Deborah Mccombe bought 500 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The shares were bought at an average price of C$58.24 per share, for a total transaction of C$29,120.00.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.137 per share. This represents a $0.55 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Thursday, November 30th. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.10. Agnico Eagle Mines’s dividend payout ratio is presently 26.67%.
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About Agnico Eagle Mines
Agnico Eagle Mines Ltd is a Canada-based gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut, as well as exploration activities in Canada, Europe, Latin America and the United States. It operates through the business units: Northern Business, which consists of its operations in Canada and Finland, such as the LaRonde mine, the Lapa mine, the Goldex mine, the Meadowbank mine, the Meliadine project and the Malartic Mine in Canada, as well as the Kittila mine in Finland; Southern Business, which consists of its operations in Mexico, such as the Pinos Altos mine that includes the Creston Mascota deposit and the La India mine owned by its indirect subsidiary, as well as Exploration Group, which focuses on the identification of new mineral reserves and mineral resources, and new development opportunities in gold producing regions.
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