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

Agnico Eagle Mines Limited (NYSE:AEM - Get Free Report) TSE: AEM declared a dividend on Saturday, May 24th, investing.com reports. Investors of record on Monday, June 2nd will be paid a dividend of 0.40 per share by the mining company on Monday, June 16th. This represents a yield of 1.36%. The ex-dividend date is Friday, May 30th.

Agnico Eagle Mines has raised its dividend by an average of 4.6% annually over the last three years. Agnico Eagle Mines has a payout ratio of 24.9% indicating that 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 Stock Performance

Agnico Eagle Mines stock traded up $0.68 during trading hours on Thursday, hitting $118.55. 2,527,710 shares of the stock traded hands, compared to its average volume of 2,557,335. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.86 and a quick ratio of 0.86. The firm's 50 day moving average price is $112.37 and its 200-day moving average price is $97.05. The stock has a market capitalization of $59.66 billion, a price-to-earnings ratio of 31.37, a P/E/G ratio of 0.66 and a beta of 0.54. Agnico Eagle Mines has a 1 year low of $63.01 and a 1 year high of $126.76.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on AEM shares. National Bank Financial raised Agnico Eagle Mines to a "strong-buy" rating in a report on Friday, March 21st. Bank of America boosted their price objective on Agnico Eagle Mines from $119.00 to $142.00 and gave the stock a "buy" rating in a research note on Tuesday, April 8th. BMO Capital Markets began coverage on Agnico Eagle Mines in a research note on Wednesday, April 16th. They set an "outperform" rating and a $181.00 price objective for the company. Stifel Canada upgraded Agnico Eagle Mines to a "strong-buy" rating in a research note on Wednesday, March 19th. Finally, UBS Group boosted their price objective on Agnico Eagle Mines from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, April 11th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $124.40.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Agnico Eagle Mines stock. Brighton Jones LLC increased its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 11.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm 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 quarter. Hedge funds and other institutional investors own 68.34% of the company's stock.

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.