Agnico Eagle Mines Limited Announces Quarterly Dividend of $0.45 (NYSE:AEM)

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) announced a quarterly dividend on Thursday, February 12th. Investors of record on Tuesday, September 1st will be given a dividend of 0.45 per share by the mining company on Tuesday, September 15th. This represents a c) annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, September 1st.

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 dividend payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Agnico Eagle Mines to earn $11.25 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 16.0%.

Agnico Eagle Mines Stock Down 4.2%

NYSE:AEM opened at $206.41 on Friday. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.01. The stock has a 50 day moving average of $165.50 and a 200-day moving average of $187.44. The firm has a market capitalization of $104.63 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 2.56 and a beta of 0.60. Agnico Eagle Mines has a 52 week low of $134.38 and a 52 week high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.16. The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.78 billion. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.The business’s revenue was up 35.0% on a year-over-year basis. During the same quarter last year, the business posted $1.94 EPS. Analysts predict that Agnico Eagle Mines will post 11.56 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AEM shares. Bank of America reduced their price target on shares of Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating for the company in a report on Thursday, July 9th. ATB Cormark Capital Markets upgraded shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research report on Monday, May 4th. Weiss Ratings lowered shares of Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Scotia decreased their target price on shares of Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating for the company in a research report on Friday, July 3rd. Finally, Zacks Research downgraded Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Twelve investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Agnico Eagle Mines presently has an average rating of “Moderate Buy” and a consensus target price of $226.00.

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.