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

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) declared a quarterly dividend on Thursday, February 12th. Shareholders of record on Monday, March 2nd will be paid a dividend of 0.45 per share by the mining company on Monday, March 16th. This represents a c) dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, March 2nd. This is a 12.5% increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40.

Agnico Eagle Mines has raised its dividend payment by an average of 0.0%per year over the last three years. Agnico Eagle Mines has a payout ratio of 24.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Agnico Eagle Mines to earn $4.28 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 37.4%.

Agnico Eagle Mines Stock Performance

AEM opened at $205.35 on Friday. The company has a quick ratio of 1.31, a current ratio of 2.12 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines has a 12-month low of $92.11 and a 12-month high of $225.00. The business has a 50 day moving average of $188.56 and a 200-day moving average of $166.90. The stock has a market cap of $102.81 billion, a price-to-earnings ratio of 29.98, a PEG ratio of 0.49 and a beta of 0.63.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.13. Agnico Eagle Mines had a return on equity of 15.64% and a net margin of 32.62%.The business had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same period in the previous year, the firm earned $1.26 EPS. The firm’s revenue was up 60.3% compared to the same quarter last year. On average, equities research analysts expect that Agnico Eagle Mines will post 4.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AEM. Scotiabank lifted their target price on shares of Agnico Eagle Mines from $219.00 to $276.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Citigroup boosted their price target on Agnico Eagle Mines from $198.00 to $256.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. JPMorgan Chase & Co. began coverage on Agnico Eagle Mines in a report on Thursday, January 29th. They set a “neutral” rating and a $248.00 target price for the company. Raymond James Financial restated an “outperform” rating and issued a $225.00 price target on shares of Agnico Eagle Mines in a research note on Wednesday, January 14th. Finally, Weiss Ratings cut shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research note on Monday, January 12th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $230.64.

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.