Agnico Eagle Mines Limited (AEM) to Issue Quarterly Dividend of $0.45 on March 16th

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) declared a quarterly dividend on Thursday, February 12th. Stockholders of record on Monday, March 2nd will be given 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 dividend yield of 0.7%. 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 decreased its dividend payment by an average of 0.0%annually over the last three years. Agnico Eagle Mines has a payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings. 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 $1.80 annual dividend with an expected future payout ratio of 42.1%.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $251.48 on Friday. The firm has a market capitalization of $126.00 billion, a PE ratio of 28.32, a PEG ratio of 0.55 and a beta of 0.63. Agnico Eagle Mines has a 1 year low of $92.11 and a 1 year high of $252.78. The company has a current ratio of 2.02, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm’s fifty day simple moving average is $202.46 and its 200 day simple moving average is $174.62.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.13. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.40 billion. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The firm’s revenue was up 60.3% compared to the same quarter last year. During the same period last year, the business posted $1.26 earnings per share. On average, sell-side analysts anticipate that Agnico Eagle Mines will post 4.63 EPS for the current year.

About Agnico Eagle Mines

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.