Agnico Eagle Mines Limited Announces 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 dividend yield of 1.36%. The ex-dividend date is Friday, May 30th.

Agnico Eagle Mines has increased its dividend by an average of 4.6% per year over the last three years. 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

Agnico Eagle Mines stock traded down $1.26 during midday trading on Tuesday, reaching $116.36. The stock had a trading volume of 2,947,965 shares, compared to its average volume of 2,554,242. Agnico Eagle Mines has a 12 month low of $63.01 and a 12 month high of $126.76. The firm's 50-day moving average price is $111.88 and its 200 day moving average price is $96.77. The firm has a market capitalization of $58.56 billion, a PE ratio of 30.78, a P/E/G ratio of 0.66 and a beta of 0.54. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AEM shares. UBS Group boosted their price objective on Agnico Eagle Mines from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, April 11th. Wall Street Zen cut Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. Scotiabank reiterated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Monday, April 14th. Stifel Canada upgraded Agnico Eagle Mines to a "strong-buy" rating in a research report on Wednesday, March 19th. Finally, Cfra Research upgraded Agnico Eagle Mines to a "strong-buy" rating in a research report on Friday, April 25th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Agnico Eagle Mines presently has an average rating of "Buy" and a consensus target price of $124.40.

Institutional Investors Weigh In On Agnico Eagle Mines

A hedge fund recently raised its stake in Agnico Eagle Mines stock. AQR Capital Management LLC raised its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 36.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,829 shares of the mining company's stock after acquiring an additional 5,293 shares during the quarter. AQR Capital Management LLC's holdings in Agnico Eagle Mines were worth $2,150,000 at the end of the most recent quarter. 68.34% of the stock is currently owned by institutional investors.

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.