Agnico Eagle Mines Limited (NYSE:AEM) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) have been assigned an average rating of “Buy” from the seventeen analysts that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and four have assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $234.9091.

Several analysts have weighed in on the stock. Zacks Research raised shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Erste Group Bank upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Thursday, March 5th. TD Securities boosted their target price on Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Jefferies Financial Group set a $189.00 price target on Agnico Eagle Mines in a research report on Sunday, December 7th. Finally, Canadian Imperial Bank of Commerce set a $296.00 price target on Agnico Eagle Mines and gave the company an “outperform” rating in a report on Wednesday, February 4th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. TD Waterhouse Canada Inc. increased its stake in Agnico Eagle Mines by 13.4% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 1,133,384 shares of the mining company’s stock worth $192,951,000 after purchasing an additional 134,147 shares in the last quarter. Ninety One UK Ltd lifted its stake in Agnico Eagle Mines by 386.5% in the third quarter. Ninety One UK Ltd now owns 188,189 shares of the mining company’s stock valued at $31,703,000 after buying an additional 149,506 shares in the last quarter. Campbell & CO Investment Adviser LLC boosted its holdings in shares of Agnico Eagle Mines by 1,560.8% in the third quarter. Campbell & CO Investment Adviser LLC now owns 48,677 shares of the mining company’s stock valued at $8,205,000 after buying an additional 45,746 shares during the period. AustralianSuper Pty Ltd acquired a new position in shares of Agnico Eagle Mines in the third quarter valued at approximately $23,958,000. Finally, Addenda Capital Inc. increased its position in shares of Agnico Eagle Mines by 2.3% during the third quarter. Addenda Capital Inc. now owns 724,231 shares of the mining company’s stock worth $122,076,000 after acquiring an additional 15,965 shares in the last quarter. 68.34% of the stock is owned by institutional investors.

Agnico Eagle Mines Stock Up 1.9%

Shares of NYSE:AEM opened at $225.28 on Tuesday. The company’s fifty day moving average is $208.61 and its 200-day moving average is $179.31. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.02. Agnico Eagle Mines has a 52 week low of $94.77 and a 52 week high of $255.24. The company has a market capitalization of $112.87 billion, a PE ratio of 25.37 and a beta of 0.61.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.13. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.09%. The firm had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same period last year, the firm posted $1.26 EPS. The firm’s quarterly revenue was up 60.3% on a year-over-year basis. Equities research analysts predict that Agnico Eagle Mines will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.45 per share. The ex-dividend date is Monday, March 2nd. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 0.8%. Agnico Eagle Mines’s dividend payout ratio (DPR) is currently 20.27%.

About Agnico Eagle Mines

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.