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

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) announced a quarterly dividend on Thursday, February 15th, Wall Street Journal reports. Shareholders of record on Friday, August 30th will be paid a dividend of 0.40 per share by the mining company on Monday, September 16th. This represents a $1.60 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Friday, August 30th.

Agnico Eagle Mines has increased its dividend payment by an average of 19.0% annually over the last three years. Agnico Eagle Mines has a dividend payout ratio of 39.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Agnico Eagle Mines to earn $3.76 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 42.6%.

Agnico Eagle Mines Trading Down 1.6 %

Shares of NYSE AEM traded down $1.30 during mid-day trading on Wednesday, hitting $80.97. The stock had a trading volume of 435,352 shares, compared to its average volume of 2,753,161. The business has a 50 day moving average price of $73.62 and a two-hundred day moving average price of $65.00. Agnico Eagle Mines has a 1 year low of $43.22 and a 1 year high of $83.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.88 and a current ratio of 1.51. The firm has a market cap of $40.51 billion, a P/E ratio of 85.09, a price-to-earnings-growth ratio of 0.77 and a beta of 1.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.14. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.65 earnings per share. On average, equities analysts anticipate that Agnico Eagle Mines will post 3.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Jefferies Financial Group upped their price target on Agnico Eagle Mines from $59.00 to $66.00 and gave the company a “hold” rating in a research report on Friday, July 12th. Citigroup raised their price target on Agnico Eagle Mines from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. CIBC lifted their price target on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Scotiabank upped their price objective on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Finally, StockNews.com raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $82.86.

Agnico Eagle Mines Company Profile

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.