Agnico Eagle Mines (NYSE:AEM) Posts Earnings Results, Misses Expectations By $0.22 EPS

Key Points

• Earnings missed expectations: Agnico Eagle reported Q1 EPS of $3.40 versus analysts' $3.62 estimate (a $0.22 miss), though the company still posted strong profitability metrics with an 18.09% ROE and a 37.47% net margin.
• Dividend increase: The company raised its quarterly dividend to $0.45 (from $0.40), representing a $1.80 annualized payout, a 1.0% yield and a dividend payout ratio of 20.27%.
• Market and analyst view: Shares traded up about 2.6% to $188.29 after the report, and analysts maintain a "Moderate Buy" consensus with an average price target of $239.36.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM issued its quarterly earnings data on Thursday. The mining company reported $3.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.62 by ($0.22), Zacks reports. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.

Agnico Eagle Mines Trading Up 2.6%

Shares of NYSE AEM traded up $4.73 during mid-day trading on Thursday, hitting $188.29. The stock had a trading volume of 2,658,709 shares, compared to its average volume of 2,734,003. The firm has a market cap of $94.25 billion, a P/E ratio of 21.20, a price-to-earnings-growth ratio of 9.91 and a beta of 0.71. Agnico Eagle Mines has a 1 year low of $103.38 and a 1 year high of $255.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.02. The business has a 50 day moving average price of $212.49 and a two-hundred day moving average price of $191.78.

Agnico Eagle Mines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were issued a $0.45 dividend. This is a positive change from Agnico Eagle Mines's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Monday, March 2nd. Agnico Eagle Mines's dividend payout ratio (DPR) is 20.27%.

Analyst Ratings Changes

AEM has been the subject of several analyst reports. Weiss Ratings raised shares of Agnico Eagle Mines from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday, April 13th. Wall Street Zen cut shares of Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research report on Saturday, April 11th. Citigroup increased their price target on shares of Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a "buy" rating in a report on Thursday, January 15th. UBS Group reduced their target price on Agnico Eagle Mines from $240.00 to $210.00 and set a "neutral" rating on the stock in a research note on Friday, March 27th. Finally, TD Securities boosted their target price on Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a "buy" rating in a research report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $239.36.

Institutional Investors Weigh In On Agnico Eagle Mines

Several institutional investors and hedge funds have recently bought and sold shares of the business. Acumen Wealth Advisors LLC purchased a new stake in Agnico Eagle Mines in the fourth quarter worth $26,000. Jessup Wealth Management Inc purchased a new position in shares of Agnico Eagle Mines in the 4th quarter valued at approximately $35,000. Horizon Investments LLC lifted its position in Agnico Eagle Mines by 129.6% during the third quarter. Horizon Investments LLC now owns 248 shares of the mining company's stock valued at $42,000 after buying an additional 140 shares during the period. Swiss RE Ltd. bought a new stake in Agnico Eagle Mines during the fourth quarter worth about $48,000. Finally, Garton & Associates Financial Advisors LLC bought a new stake in shares of Agnico Eagle Mines in the 4th quarter worth approximately $53,000. Hedge funds and other institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited NYSE: AEM is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.

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