Royal Bank of Canada set a $53.00 target price on Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in a research note published on Monday, October 23rd. The brokerage currently has a hold rating on the mining company’s stock.
Other equities analysts have also issued reports about the stock. National Bank Financial reaffirmed an outperform market weight rating on shares of Agnico Eagle Mines Limited in a research report on Friday, September 8th. Zacks Investment Research lowered shares of Agnico Eagle Mines Limited from a strong-buy rating to a hold rating in a research report on Monday, July 24th. Scotiabank raised their price target on shares of Agnico Eagle Mines Limited from $58.00 to $58.50 and gave the stock an outperform rating in a research report on Friday, July 28th. TD Securities set a $53.00 target price on shares of Agnico Eagle Mines Limited and gave the company a hold rating in a report on Thursday, October 19th. Finally, Credit Suisse Group set a $64.00 target price on shares of Agnico Eagle Mines Limited and gave the company a buy rating in a report on Sunday, September 10th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $54.44.
Shares of Agnico Eagle Mines Limited (NYSE AEM) traded down $0.35 during trading on Monday, hitting $45.00. 1,080,100 shares of the company traded hands, compared to its average volume of 1,558,731. The stock has a market cap of $10,506.37, a price-to-earnings ratio of 39.44, a P/E/G ratio of 45.46 and a beta of -0.72. The company has a quick ratio of 2.70, a current ratio of 3.85 and a debt-to-equity ratio of 0.28. Agnico Eagle Mines Limited has a 52-week low of $35.05 and a 52-week high of $51.86.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.98%. The ex-dividend date is Thursday, November 30th. This is a boost from Agnico Eagle Mines Limited’s previous quarterly dividend of $0.10. Agnico Eagle Mines Limited’s payout ratio is 34.19%.
Institutional investors and hedge funds have recently made changes to their positions in the business. Neuberger Berman Group LLC boosted its stake in Agnico Eagle Mines Limited by 4.2% during the 2nd quarter. Neuberger Berman Group LLC now owns 816,794 shares of the mining company’s stock worth $36,854,000 after purchasing an additional 33,285 shares during the last quarter. Aviva PLC raised its holdings in shares of Agnico Eagle Mines Limited by 3.3% during the 2nd quarter. Aviva PLC now owns 144,463 shares of the mining company’s stock worth $6,508,000 after acquiring an additional 4,590 shares during the period. Boulegeris Investments Inc. raised its holdings in shares of Agnico Eagle Mines Limited by 135.7% during the 2nd quarter. Boulegeris Investments Inc. now owns 12,070 shares of the mining company’s stock worth $545,000 after acquiring an additional 6,950 shares during the period. Vanguard Group Inc. raised its holdings in shares of Agnico Eagle Mines Limited by 6.9% during the 2nd quarter. Vanguard Group Inc. now owns 5,444,848 shares of the mining company’s stock worth $245,672,000 after acquiring an additional 352,417 shares during the period. Finally, Airain ltd purchased a new position in shares of Agnico Eagle Mines Limited during the 2nd quarter worth $4,627,000. 58.32% of the stock is currently owned by institutional investors.
About Agnico Eagle Mines Limited
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.
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