Agnico Eagle Mines (NYSE:AEM) Issues Earnings Results

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) released its quarterly earnings results on Thursday. The mining company reported $3.40 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.21, Zacks reports. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.69% and a net margin of 39.46%.The company’s revenue was up 66.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.53 EPS.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $183.51 on Friday. The stock has a 50-day simple moving average of $211.77 and a two-hundred day simple moving average of $191.76. Agnico Eagle Mines has a 52-week low of $103.38 and a 52-week high of $255.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.02. The firm has a market capitalization of $91.86 billion, a PE ratio of 20.67, a P/E/G ratio of 9.49 and a beta of 0.71.

Agnico Eagle Mines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.45 per share. The ex-dividend date is Monday, June 1st. This represents a $1.80 annualized dividend and a yield of 1.0%. Agnico Eagle Mines’s payout ratio is 20.27%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AEM. AQR Capital Management LLC increased its stake in shares of Agnico Eagle Mines by 1,509.6% in the fourth quarter. AQR Capital Management LLC now owns 855,547 shares of the mining company’s stock worth $145,084,000 after purchasing an additional 802,395 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of Agnico Eagle Mines by 566.2% during the 3rd quarter. Lazard Asset Management LLC now owns 888,239 shares of the mining company’s stock valued at $149,593,000 after purchasing an additional 754,919 shares during the period. Morgan Stanley lifted its stake in shares of Agnico Eagle Mines by 18.3% during the 4th quarter. Morgan Stanley now owns 3,052,065 shares of the mining company’s stock valued at $517,417,000 after buying an additional 471,594 shares in the last quarter. Quadrature Capital Ltd lifted its stake in shares of Agnico Eagle Mines by 106.4% during the 4th quarter. Quadrature Capital Ltd now owns 838,500 shares of the mining company’s stock valued at $142,381,000 after buying an additional 432,300 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in Agnico Eagle Mines by 4.0% in the 4th quarter. Mackenzie Financial Corp now owns 8,687,624 shares of the mining company’s stock worth $1,489,509,000 after buying an additional 332,797 shares during the period. Institutional investors own 68.34% of the company’s stock.

Trending Headlines about Agnico Eagle Mines

Here are the key news stories impacting Agnico Eagle Mines this week:

Wall Street Analyst Weigh In

A number of research firms recently commented on AEM. TD upped their price objective 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. Raymond James Financial reissued an “outperform” rating and issued a $225.00 target price on shares of Agnico Eagle Mines in a research report on Wednesday, January 14th. Canadian Imperial Bank of Commerce cut their price target on Agnico Eagle Mines from $312.00 to $304.00 and set an “outperform” rating for the company in a research note on Tuesday, April 21st. TD Securities upped their price target on shares of Agnico Eagle Mines from $241.00 to $251.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 18th. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $239.36.

View Our Latest Research Report on AEM

Agnico Eagle Mines Company Profile

(Get Free Report)

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.

See Also

Earnings History for Agnico Eagle Mines (NYSE:AEM)

Receive News & Ratings for Agnico Eagle Mines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agnico Eagle Mines and related companies with MarketBeat.com's FREE daily email newsletter.