Agnico Eagle Mines (NYSE:AEM) Announces Earnings Results

Key Points

• Agnico Eagle Mines reported earnings of $1.94 EPS, exceeding analysts' estimates by $0.37, and showing a year-over-year revenue increase of 35.6%.
• The company declared a dividend of $0.40 with a 1.36% dividend yield, paying stockholders of record on June 2nd.
• Wall Street analysts have a consensus rating of "Buy" for AEM, with a price target increased to $136.90, reflecting strong investor confidence.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM released its quarterly earnings data on Wednesday. The mining company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.11, Zacks reports. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates 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 business earned $1.07 EPS.

Agnico Eagle Mines Stock Performance

NYSE:AEM traded up $0.85 during midday trading on Friday, reaching $125.21. The stock had a trading volume of 3,799,236 shares, compared to its average volume of 2,426,875. Agnico Eagle Mines has a 1-year low of $69.72 and a 1-year high of $129.77. The firm's fifty day simple moving average is $121.09 and its 200-day simple moving average is $109.95. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.20. The stock has a market capitalization of $62.96 billion, a P/E ratio of 21.29, a PEG ratio of 0.88 and a beta of 0.44.

Agnico Eagle Mines Announces Dividend

The company also recently announced a dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a $0.40 dividend. The ex-dividend date was Friday, May 30th. This represents a yield of 136.0%. Agnico Eagle Mines's dividend payout ratio (DPR) is presently 34.04%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Agnico Eagle Mines stock. Brighton Jones LLC boosted its position 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. The fund owned 3,216 shares of the mining company's stock after buying an additional 331 shares during the quarter. 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 institutional investors.

Analysts Set New Price Targets

AEM has been the topic of several research reports. UBS Group upped their price objective on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, April 11th. Raymond James Financial upgraded shares of Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price objective on the stock in a research note on Monday, June 30th. Scotiabank reiterated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Monday, April 14th. Cfra Research upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Royal Bank Of Canada increased their price target on shares of Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat, Agnico Eagle Mines has a consensus rating of "Buy" and an average 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.