Agnico Eagle Mines Limited (NYSE:AEM) Given Average Rating of “Moderate Buy” by Analysts

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) has been given an average rating of “Moderate Buy” by the sixteen ratings firms that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and three have issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $236.0909.

Several research firms have commented on AEM. Wall Street Zen downgraded Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 31st. Raymond James Financial reaffirmed an “outperform” rating and issued a $225.00 price target on shares of Agnico Eagle Mines in a research report on Wednesday, January 14th. Royal Bank Of Canada downgraded shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from $185.00 to $205.00 in a research report on Wednesday, December 10th. UBS Group restated a “neutral” rating and set a $240.00 price objective on shares of Agnico Eagle Mines in a research note on Friday, January 30th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Agnico Eagle Mines in a research note on Thursday, January 29th. They issued a “neutral” rating and a $248.00 target price on the stock.

Institutional Investors Weigh In On Agnico Eagle Mines

Institutional investors have recently modified their holdings of the business. TD Waterhouse Canada Inc. increased its stake in Agnico Eagle Mines by 13.4% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 1,133,384 shares of the mining company’s stock worth $192,951,000 after acquiring an additional 134,147 shares during the last quarter. Ninety One UK Ltd grew its stake in Agnico Eagle Mines by 386.5% in the 3rd quarter. Ninety One UK Ltd now owns 188,189 shares of the mining company’s stock worth $31,703,000 after buying an additional 149,506 shares in the last quarter. Campbell & CO Investment Adviser LLC lifted its holdings in shares of Agnico Eagle Mines by 1,560.8% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 48,677 shares of the mining company’s stock worth $8,205,000 after acquiring an additional 45,746 shares during the last quarter. AustralianSuper Pty Ltd purchased a new position in Agnico Eagle Mines in the third quarter worth $23,958,000. Finally, Addenda Capital Inc. increased its stake in Agnico Eagle Mines by 2.3% in the third quarter. Addenda Capital Inc. now owns 724,231 shares of the mining company’s stock valued at $122,076,000 after acquiring an additional 15,965 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Trading Down 1.7%

NYSE:AEM opened at $212.91 on Friday. The firm has a market capitalization of $106.67 billion, a P/E ratio of 23.98, a PEG ratio of 0.51 and a beta of 0.63. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.12 and a quick ratio of 1.31. Agnico Eagle Mines has a one year low of $92.11 and a one year high of $225.00. The company’s 50-day simple moving average is $191.50 and its 200 day simple moving average is $169.42.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its 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. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.53%. The firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same period last year, the business earned $1.26 earnings per share. The business’s revenue was up 60.3% on a year-over-year basis. As a group, analysts forecast that Agnico Eagle Mines will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, March 2nd. This represents a $1.80 annualized dividend and a yield of 0.8%. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s dividend payout ratio (DPR) is 20.27%.

Agnico Eagle Mines Company Profile

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.