Agnico Eagle Mines Limited (NYSE:AEM) Plans $0.40 Quarterly Dividend

Agnico Eagle Mines Limited (NYSE:AEM - Get Free Report) TSE: AEM declared a quarterly dividend on Monday, April 29th, Wall Street Journal reports. Stockholders of record on Friday, May 31st will be paid a dividend of 0.40 per share by the mining company on Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Friday, May 31st.

Agnico Eagle Mines has increased its dividend by an average of 19.0% per year over the last three years. Agnico Eagle Mines has a payout ratio of 54.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Agnico Eagle Mines to earn $3.05 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 52.5%.

Agnico Eagle Mines Price Performance

Shares of AEM traded up $0.30 during trading hours on Monday, reaching $65.82. The company had a trading volume of 2,212,898 shares, compared to its average volume of 3,312,240. The firm has a 50 day simple moving average of $57.26 and a 200-day simple moving average of $52.80. The company has a current ratio of 2.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $32.82 billion, a price-to-earnings ratio of 69.28, a PEG ratio of 0.89 and a beta of 1.06. Agnico Eagle Mines has a 12-month low of $43.22 and a 12-month high of $67.80.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.16. The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.78 billion. Agnico Eagle Mines had a net margin of 6.79% and a return on equity of 6.09%. The business's revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.57 EPS. Research analysts expect that Agnico Eagle Mines will post 2.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AEM has been the topic of several analyst reports. CIBC decreased their price target on shares of Agnico Eagle Mines from $72.00 to $69.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 7th. National Bank Financial reaffirmed an "outperform overweight" rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. Jefferies Financial Group raised their target price on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a "hold" rating in a research report on Monday, April 22nd. TD Securities decreased their target price on shares of Agnico Eagle Mines from $64.00 to $62.00 and set a "buy" rating on the stock in a research report on Wednesday, February 21st. Finally, Raymond James raised their target price on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an "outperform" rating in a research report on Friday, January 12th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $64.14.

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.