Agnico Eagle Mines (NYSE:AEM) Posts Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) announced its quarterly earnings data on Thursday. The mining company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.16, Briefing.com reports. Agnico Eagle Mines had a net margin of 29.29% and a return on equity of 5.54%. The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the prior year, the business earned $0.57 earnings per share. The business’s quarterly revenue was up 21.2% compared to the same quarter last year.

Agnico Eagle Mines Trading Up 1.8 %

Shares of AEM stock traded up $1.19 on Friday, hitting $66.13. 3,206,566 shares of the company’s stock traded hands, compared to its average volume of 3,302,541. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.74 and a current ratio of 2.09. Agnico Eagle Mines has a one year low of $43.22 and a one year high of $67.80. The company’s fifty day simple moving average is $56.54 and its 200 day simple moving average is $52.46. The stock has a market capitalization of $32.97 billion, a price-to-earnings ratio of 16.37, a P/E/G ratio of 0.90 and a beta of 1.06.

Agnico Eagle Mines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Thursday, February 29th. Agnico Eagle Mines’s dividend payout ratio (DPR) is currently 38.93%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AEM. TD Securities lowered their target price on shares of Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Jefferies Financial Group upped their price objective on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a “hold” rating in a research report on Monday. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. CIBC reduced their price objective on shares of Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Finally, Raymond James upped their price objective on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “outperform” rating in a research report on Friday, January 12th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $64.14.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.