Agnico Eagle Mines Limited (NYSE:AEM) Announces Dividend of $0.40

Key Points

• Agnico Eagle Mines Limited announced a dividend of $0.40 per share, with a yield of 120.0%, set to be paid on September 15th to shareholders of record on September 3rd.
• The company has a payout ratio of 24.9%, indicating that its dividend is well-covered by earnings, and analysts expect earnings per share to rise to $4.28 next year.
• Agnico Eagle Mines has received multiple positive analyst ratings, with Royal Bank Of Canada raising its target price from $115.00 to $145.00 and the company holding an average rating of "Buy".

Agnico Eagle Mines Limited (NYSE:AEM - Get Free Report) TSE: AEM announced a dividend on Wednesday, August 27th, investing.com reports. Shareholders of record on Wednesday, September 3rd will be given a dividend of 0.40 per share by the mining company on Monday, September 15th. This represents a yield of 120.0%. The ex-dividend date is Tuesday, September 2nd.

Agnico Eagle Mines has a payout ratio of 24.9% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

NYSE:AEM opened at $137.57 on Wednesday. The company has a market capitalization of $69.17 billion, a PE ratio of 23.48, a P/E/G ratio of 0.94 and a beta of 0.44. The company has a 50 day simple moving average of $125.96 and a two-hundred day simple moving average of $115.25. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03. Agnico Eagle Mines has a fifty-two week low of $75.17 and a fifty-two week high of $139.80.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, beating analysts' consensus estimates of $1.83 by $0.11. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.46 billion. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The company's revenue for the quarter was up 35.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.07 EPS. Research analysts anticipate that Agnico Eagle Mines will post 4.63 earnings per share for the current year.

Analyst Ratings Changes

AEM has been the subject of a number of recent analyst reports. Royal Bank Of Canada increased their target price on shares of Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. CIBC reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, July 15th. Lake Street Capital reaffirmed a "buy" rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. National Bankshares reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Finally, TD Securities raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Thursday, July 17th. Five research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Agnico Eagle Mines has an average rating of "Buy" and a consensus target price of $136.90.

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.

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