Agnico Eagle Mines Ltd. (AEM) to Issue Dividend Increase – $0.10 Per Share

Agnico Eagle Mines Ltd. (NYSE:AEM) declared a quarterly dividend on Wednesday, July 27th. Investors of record on Thursday, September 1st will be paid a dividend of 0.10 per share by the mining company on Thursday, September 15th. This represents a $0.40 annualized dividend and a yield of 0.73%. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.08.

AEM has been the topic of several research analyst reports. CIBC increased their price objective on Agnico Eagle Mines from $37.50 to $44.50 in a research note on Friday, April 8th. Vetr raised Agnico Eagle Mines from a “sell” rating to a “buy” rating and set a $42.34 target price on the stock in a research report on Monday, April 11th. Royal Bank Of Canada increased their target price on Agnico Eagle Mines from $34.00 to $42.00 in a research report on Tuesday, April 12th. Zacks Investment Research raised Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Wednesday, May 4th. Finally, BMO Capital Markets cut Agnico Eagle Mines from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 12th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Agnico Eagle Mines currently has an average rating of “Buy” and an average price target of $44.41.

Agnico Eagle Mines (NYSE:AEM) traded up 3.68% during trading on Wednesday, hitting $54.66. The company’s stock had a trading volume of 2,173,951 shares. The firm has a market cap of $12.05 billion and a PE ratio of 501.47. The company has a 50-day moving average of $52.90 and a 200 day moving average of $41.63. Agnico Eagle Mines has a one year low of $21.00 and a one year high of $57.06.

Agnico Eagle Mines (NYSE:AEM) last issued its earnings results on Wednesday, July 27th. The mining company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.06. The firm had revenue of $537.60 million for the quarter, compared to analyst estimates of $507.37 million. During the same quarter in the previous year, the firm posted $0.09 EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities analysts forecast that Agnico Eagle Mines will post $0.62 earnings per share for the current year.

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.