Agnico Eagle Mines Limited (NYSE:AEM) Receives Average Recommendation of "Buy" from Analysts

Key Points

• Agnico Eagle Mines Limited has received a consensus rating of "Buy" from fourteen brokerages, with an average twelve-month target price of $136.90.
• The company reported quarterly earnings of $1.94 per share, surpassing analyst expectations of $1.83, alongside a 35.6% year-over-year revenue increase to $2.86 billion.
• Agnico Eagle Mines also declared a dividend of $0.40 per share, reflecting a strong dividend yield of 136.0% and a payout ratio of 27.21%.

Agnico Eagle Mines Limited (NYSE:AEM - Get Free Report) TSE: AEM has received a consensus recommendation of "Buy" from the fourteen brokerages that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating, seven have given a buy rating and five have given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $136.90.

Several equities analysts recently commented on the company. CIBC reiterated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. National Bankshares reiterated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. Bank of America upped their target price on Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Raymond James Financial upgraded Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 target price for the company in a research note on Monday, June 30th. Finally, Lake Street Capital restated a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd.

Institutional Investors Weigh In On Agnico Eagle Mines

Several institutional investors and hedge funds have recently added to or reduced their stakes in AEM. Brighton Jones LLC increased its stake in Agnico Eagle Mines by 11.5% during the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company's stock worth $252,000 after acquiring an additional 331 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter valued at about $422,000. First Trust Advisors LP grew its stake in shares of Agnico Eagle Mines by 5.2% in the fourth quarter. First Trust Advisors LP now owns 169,101 shares of the mining company's stock valued at $13,226,000 after buying an additional 8,394 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Agnico Eagle Mines by 147.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,828 shares of the mining company's stock valued at $143,000 after buying an additional 1,089 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of Agnico Eagle Mines by 26.8% in the fourth quarter. Hsbc Holdings PLC now owns 627,559 shares of the mining company's stock valued at $49,048,000 after buying an additional 132,625 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM traded down $0.14 on Friday, hitting $139.53. The company had a trading volume of 1,560,054 shares, compared to its average volume of 2,526,192. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03. Agnico Eagle Mines has a 52-week low of $75.17 and a 52-week high of $139.80. The business has a 50 day moving average of $126.30 and a 200 day moving average of $115.42. The company has a market cap of $70.16 billion, a PE ratio of 23.73, a PEG ratio of 0.96 and a beta of 0.44.

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 EPS for the quarter, beating the consensus estimate of $1.83 by $0.11. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.46 billion. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The business's quarterly revenue was up 35.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.07 earnings per share. As a group, equities analysts anticipate that Agnico Eagle Mines will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The company also recently declared a dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, September 2nd. This represents a yield of 120.0%. Agnico Eagle Mines's dividend payout ratio is currently 27.21%.

Agnico Eagle Mines Company Profile

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.