Agnico Eagle Mines (NYSE:AEM) Trading Up 1.1% - What's Next?

Key Points

• Agnico Eagle Mines' shares rose by 1.1%, trading at $127.18 with a notable decline in trading volume, down 59% from the average.
• Analysts have increased price targets for AEM stock, with Bank of America setting a new target of $173.00 and a consensus average price target of $136.90.
• The company reported a 34.9% year-over-year revenue increase for its last quarter, with earnings per share of $1.53, surpassing expectations.
• Agnico Eagle Mines announced a dividend of $0.40 per share, reflecting a yield of 1.36% and a payout ratio of 34.04%.

Agnico Eagle Mines Limited (NYSE:AEM - Get Free Report) TSE: AEM shares were up 1.1% on Friday . The company traded as high as $127.40 and last traded at $127.18. Approximately 1,218,177 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 2,990,170 shares. The stock had previously closed at $125.79.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AEM shares. Bank of America upped their price objective on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Citigroup upped their price objective on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a "buy" rating in a report on Monday, March 31st. Royal Bank Of Canada upped their price objective on shares of Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Cfra Research upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a report on Friday, April 25th. Finally, CIBC restated an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, July 15th. Two 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 company. Based on data from MarketBeat, Agnico Eagle Mines has an average rating of "Buy" and an average price target of $136.90.

Agnico Eagle Mines Stock Up 0.0%

The stock has a market capitalization of $63.26 billion, a P/E ratio of 26.76, a P/E/G ratio of 0.92 and a beta of 0.50. The company's 50-day moving average price is $119.59 and its 200 day moving average price is $108.22. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.20 and a current ratio of 2.37.

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 EPS for the quarter, beating the consensus estimate of $1.39 by $0.14. The firm had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.27 billion. Agnico Eagle Mines had a net margin of 26.48% and a return on equity of 12.09%. The company's revenue was up 34.9% on a year-over-year basis. During the same period last year, the firm earned $0.76 EPS. As a group, equities analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

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

Hedge Funds Weigh In On Agnico Eagle Mines

A number of large investors have recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Agnico Eagle Mines by 1.5% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,702 shares of the mining company's stock worth $618,000 after purchasing an additional 85 shares during the period. Hexagon Capital Partners LLC boosted its stake in shares of Agnico Eagle Mines by 31.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 367 shares of the mining company's stock worth $40,000 after purchasing an additional 87 shares during the period. Benjamin Edwards Inc. boosted its stake in shares of Agnico Eagle Mines by 2.0% during the 4th quarter. Benjamin Edwards Inc. now owns 5,472 shares of the mining company's stock worth $428,000 after purchasing an additional 106 shares during the period. Laird Norton Wetherby Wealth Management LLC boosted its stake in shares of Agnico Eagle Mines by 1.8% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,944 shares of the mining company's stock worth $543,000 after purchasing an additional 120 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Agnico Eagle Mines by 19.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 774 shares of the mining company's stock worth $84,000 after purchasing an additional 125 shares during the period. 68.34% of the stock is owned by hedge funds and other institutional investors.

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.

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