Agnico Eagle Mines Limited (TSE:AEM) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Agnico Eagle Mines holds a “Moderate Buy” consensus rating from nine analysts: four recommend buying, two strongly recommend buying, and three rate it a hold. The average 12-month price target is C$295.33.
• Several brokerages recently lowered their price targets, including National Bank Financial to C$275, Barclays to C$266, and Stifel Nicolaus to C$310, while Jefferies upgraded the stock to “strong buy.”
• The company reported quarterly EPS of C$4.33 on C$5.53 billion in revenue and declared a quarterly dividend of C$0.45, equivalent to an annualized C$1.80 payout and a 0.6% yield.

Shares of Agnico Eagle Mines Limited (TSE:AEM - Get Free Report) NYSE: AEM have been assigned a consensus recommendation of "Moderate Buy" from the nine brokerages that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is C$295.33.

A number of brokerages have issued reports on AEM. Jefferies Financial Group raised Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 6th. National Bank Financial reduced their price target on Agnico Eagle Mines from C$350.00 to C$275.00 and set an "outperform" rating for the company in a research report on Tuesday, July 14th. Barclays lowered their price objective on shares of Agnico Eagle Mines from C$298.00 to C$266.00 in a research note on Thursday, July 16th. Finally, Stifel Nicolaus reduced their price objective on Agnico Eagle Mines from C$350.00 to C$310.00 in a research report on Friday, July 17th.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at C$280.10 on Thursday. The stock has a market capitalization of C$140.33 billion, a PE ratio of 23.98, a price-to-earnings-growth ratio of 22.97 and a beta of 2.02. The business's fifty day moving average price is C$241.08 and its 200 day moving average price is C$258.46. Agnico Eagle Mines has a 12-month low of C$188.48 and a 12-month high of C$348.94. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.86 and a quick ratio of 0.89.

Agnico Eagle Mines (TSE:AEM - Get Free Report) NYSE: AEM last announced its quarterly earnings results on Wednesday, July 29th. The company reported C$4.33 earnings per share (EPS) for the quarter. The business had revenue of C$5.53 billion for the quarter. Agnico Eagle Mines had a return on equity of 22.69% and a net margin of 40.45%. Equities research analysts forecast that Agnico Eagle Mines will post 5.4966052 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 15th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 0.6%. The ex-dividend date is Tuesday, September 1st. Agnico Eagle Mines's dividend payout ratio (DPR) is presently 14.55%.

Insider Buying and Selling at Agnico Eagle Mines

In other news, Director John Merfyn Roberts sold 1,500 shares of the company's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of C$273.35, for a total transaction of C$410,025.00. Following the transaction, the director owned 16,182 shares of the company's stock, valued at C$4,423,349.70. This represents a 8.48% decrease in their ownership of the stock. 0.08% of the stock is currently owned by insiders.

Agnico Eagle Mines Company Profile

Canadian-based and led, Agnico Eagle is Canada's largest mining company and the second largest gold producer in the world, operating mines in Canada, Australia, Finland and Mexico. The Company is advancing a pipeline of high-quality development projects in these regions to support sustainable growth over the next decade. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.

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