Agnico Eagle Mines Ltd. (NYSE:AEM)‘s stock had its “hold” rating restated by equities research analysts at BMO Capital Markets in a research note issued to investors on Thursday. They presently have a $55.00 price target on the mining company’s stock. BMO Capital Markets’ price target indicates a potential upside of 6.92% from the stock’s previous close.
Several other research analysts have also weighed in on AEM. CIBC increased their price objective on Agnico Eagle Mines from $37.50 to $44.50 in a research report on Friday, April 8th. Vetr upgraded Agnico Eagle Mines from a “sell” rating to a “buy” rating and set a $42.34 price target for the company in a research report on Monday, April 11th. Royal Bank Of Canada raised their price target on Agnico Eagle Mines from $34.00 to $42.00 in a research report on Tuesday, April 12th. Zacks Investment Research upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research report on Wednesday, May 4th. Finally, Sterne Agee CRT restated a “buy” rating on shares of Agnico Eagle Mines in a research report on Monday, May 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. Agnico Eagle Mines currently has an average rating of “Hold” and a consensus price target of $50.91.
Agnico Eagle Mines (NYSE:AEM) traded down 0.45% on Thursday, hitting $51.44. The stock had a trading volume of 2,885,586 shares. Agnico Eagle Mines has a 52-week low of $22.64 and a 52-week high of $60.10. The firm’s 50-day moving average is $55.65 and its 200-day moving average is $47.55. The company has a market cap of $11.50 billion, a P/E ratio of 354.76 and a beta of -0.57.
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Agnico Eagle Mines (NYSE:AEM) last issued its quarterly earnings data on Thursday, July 28th. The mining company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.06. The company earned $537.60 million during the quarter, compared to analyst estimates of $507.37 million. Agnico Eagle Mines had a return on equity of 1.88% and a net margin of 1.61%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 earnings per share. Equities research analysts anticipate that Agnico Eagle Mines will post $0.66 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.78%. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.08. Agnico Eagle Mines’s payout ratio is 213.35%.
Several hedge funds have recently bought and sold shares of AEM. State of Wisconsin Investment Board boosted its stake in Agnico Eagle Mines by 69.3% in the fourth quarter. State of Wisconsin Investment Board now owns 188,821 shares of the mining company’s stock worth $4,944,000 after buying an additional 77,300 shares during the period. Gulf International Bank UK Ltd raised its position in Agnico Eagle Mines by 7.2% in the fourth quarter. Gulf International Bank UK Ltd now owns 67,228 shares of the mining company’s stock worth $1,768,000 after buying an additional 4,500 shares in the last quarter. Airain ltd bought a new position in Agnico Eagle Mines during the fourth quarter worth about $3,419,000. Cheviot Value Management LLC raised its position in Agnico Eagle Mines by 41.5% in the fourth quarter. Cheviot Value Management LLC now owns 88,278 shares of the mining company’s stock worth $2,320,000 after buying an additional 25,908 shares in the last quarter. Finally, Bridgewater Associates LP raised its position in Agnico Eagle Mines by 22.8% in the fourth quarter. Bridgewater Associates LP now owns 323,801 shares of the mining company’s stock worth $8,509,000 after buying an additional 60,210 shares in the last quarter. Institutional investors and hedge funds own 63.74% of the company’s stock.
Agnico Eagle Mines Company Profile
Agnico Eagle Mines Limited is a gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut and exploration activities in Canada, Europe, Latin America and the United States. The Company operates through three business units. The Northern Business consists of its operations in Canada and Finland.
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