Agnico Eagle Mines Limited Announces Quarterly Dividend of $0.45 (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) announced a quarterly dividend on Thursday, February 12th. Shareholders of record on Monday, June 1st will be given a dividend of 0.45 per share by the mining company on Monday, June 15th. This represents a c) annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Monday, June 1st.

Agnico Eagle Mines has decreased its dividend by an average of 0.0%annually over the last three years. Agnico Eagle Mines has a dividend payout ratio of 28.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Agnico Eagle Mines to earn $13.39 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 13.4%.

Agnico Eagle Mines Price Performance

NYSE:AEM opened at $183.56 on Friday. The company has a quick ratio of 2.18, a current ratio of 3.15 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average price is $195.01 and its two-hundred day moving average price is $194.38. The firm has a market capitalization of $91.87 billion, a price-to-earnings ratio of 17.25, a P/E/G ratio of 3.88 and a beta of 0.58. Agnico Eagle Mines has a 12-month low of $114.60 and a 12-month high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the prior year, the company earned $1.53 earnings per share. The business’s revenue for the quarter was up 66.1% compared to the same quarter last year. On average, analysts anticipate that Agnico Eagle Mines will post 13.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AEM. Scotiabank reaffirmed an “outperform” rating and issued a $280.00 target price on shares of Agnico Eagle Mines in a research report on Tuesday, February 17th. Weiss Ratings downgraded Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, May 13th. TD upped their target price on Agnico Eagle Mines from $251.00 to $252.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Zacks Research downgraded Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Erste Group Bank downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $236.08.

Agnico Eagle Mines Company Profile

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.