Agnico Eagle Mines Limited (NYSE:AEM) to Issue Quarterly Dividend of $0.40

Agnico Eagle Mines Limited (NYSE:AEM - Get Free Report) TSE: AEM declared a quarterly dividend on Monday, April 28th, Wall Street Journal reports. Investors of record on Monday, December 1st will be paid a dividend of 0.40 per share by the mining company on Monday, December 15th. This represents a $1.60 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Monday, December 1st.

Agnico Eagle Mines has raised its dividend payment by an average of 4.6% per year over the last three years. Agnico Eagle Mines has a dividend payout ratio of 25.1% meaning its dividend is sufficiently covered by earnings. Research 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 $1.60 annual dividend with an expected future payout ratio of 37.4%.

Agnico Eagle Mines Trading Down 4.5 %

NYSE AEM traded down $5.28 on Thursday, hitting $112.30. The company's stock had a trading volume of 4,660,338 shares, compared to its average volume of 2,443,725. Agnico Eagle Mines has a 52-week low of $63.01 and a 52-week high of $126.76. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The company's 50-day simple moving average is $107.30 and its 200 day simple moving average is $93.28. The firm has a market cap of $56.52 billion, a P/E ratio of 29.71, a PEG ratio of 0.66 and a beta of 0.87.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its earnings results on Thursday, April 24th. The mining company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.39 by $0.14. Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. The firm had revenue of $2.38 billion during the quarter, compared to analysts' expectations of $2.27 billion. During the same period last year, the company posted $0.76 EPS. The company's quarterly revenue was up 34.9% compared to the same quarter last year. Research analysts predict that Agnico Eagle Mines will post 4.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AEM has been the subject of several research reports. National Bank Financial upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a research note on Friday, March 21st. Cfra Research raised Agnico Eagle Mines to a "strong-buy" rating in a research report on Friday, April 25th. Bank of America lifted their price objective on Agnico Eagle Mines from $119.00 to $142.00 and gave the company a "buy" rating in a research note on Tuesday, April 8th. Raymond James lifted their price target on Agnico Eagle Mines from $105.00 to $130.00 and gave the stock an "outperform" rating in a research report on Friday, April 4th. Finally, Scotiabank reissued an "outperform" rating on shares of Agnico Eagle Mines in a research report on Monday, April 14th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $124.40.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Agnico Eagle Mines stock. Brighton Jones LLC grew its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 11.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,216 shares of the mining company's stock after acquiring an additional 331 shares during the period. Brighton Jones LLC's holdings in Agnico Eagle Mines were worth $252,000 at the end of the most recent reporting period. 68.34% of the stock is owned by hedge funds and other institutional investors.

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.