Agnico Eagle Mines (NYSE:AEM) Shares Down 3.4% - What's Next?

Shares of Agnico Eagle Mines Limited (NYSE:AEM - Get Free Report) TSE: AEM fell 3.4% during trading on Friday . The company traded as low as $118.35 and last traded at $117.87. 912,114 shares were traded during mid-day trading, a decline of 64% from the average session volume of 2,560,744 shares. The stock had previously closed at $122.06.

Analysts Set New Price Targets

A number of brokerages recently commented on AEM. Wall Street Zen lowered Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. Cfra Research upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a report on Friday, April 25th. Scotiabank restated an "outperform" rating on shares of Agnico Eagle Mines in a report on Monday, April 14th. Bank of America increased their price objective on shares of Agnico Eagle Mines from $119.00 to $142.00 and gave the company a "buy" rating in a report on Tuesday, April 8th. Finally, Raymond James increased their price objective on shares of Agnico Eagle Mines from $105.00 to $130.00 and gave the company an "outperform" rating in a report on Friday, April 4th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $127.40.

Agnico Eagle Mines Stock Up 0.5%

The firm has a market capitalization of $59.67 billion, a P/E ratio of 31.36, a PEG ratio of 0.66 and a beta of 0.51. The firm's 50-day moving average is $114.60 and its 200 day moving average is $99.57. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86.

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

Agnico Eagle Mines Announces Dividend

The business also recently disclosed a dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.40 per share. This represents a dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, May 30th. Agnico Eagle Mines's dividend payout ratio is currently 34.04%.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC increased its stake in shares of Agnico Eagle Mines by 11.5% during the 4th quarter. Brighton Jones LLC now owns 3,216 shares of the mining company's stock worth $252,000 after purchasing an additional 331 shares during the last quarter. Stratos Wealth Partners LTD. increased its stake in shares of Agnico Eagle Mines by 2.3% during the 4th quarter. Stratos Wealth Partners LTD. now owns 10,712 shares of the mining company's stock worth $838,000 after purchasing an additional 241 shares during the last quarter. Choreo LLC increased its stake in shares of Agnico Eagle Mines by 13.0% during the 4th quarter. Choreo LLC now owns 16,034 shares of the mining company's stock worth $1,250,000 after purchasing an additional 1,842 shares during the last quarter. Bleakley Financial Group LLC increased its stake in shares of Agnico Eagle Mines by 12.3% during the 4th quarter. Bleakley Financial Group LLC now owns 7,455 shares of the mining company's stock worth $583,000 after purchasing an additional 815 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in shares of Agnico Eagle Mines by 65.2% during the 4th quarter. Empowered Funds LLC now owns 71,788 shares of the mining company's stock worth $5,615,000 after purchasing an additional 28,324 shares during the last quarter. Institutional investors own 68.34% of the company's stock.

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.