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

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) declared a quarterly dividend on Thursday, February 13th, Wall Street Journal reports. Stockholders of record on Friday, February 28th will be given a dividend of 0.40 per share by the mining company on Friday, March 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Friday, February 28th.

Agnico Eagle Mines has increased its dividend by an average of 4.6% annually over the last three years. Agnico Eagle Mines has a payout ratio of 31.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Agnico Eagle Mines to earn $4.28 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 37.4%.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $97.04 on Wednesday. The stock has a market capitalization of $48.80 billion, a PE ratio of 25.67, a P/E/G ratio of 0.66 and a beta of 1.10. Agnico Eagle Mines has a 1 year low of $47.73 and a 1 year high of $101.45. The company’s 50 day simple moving average is $88.31 and its two-hundred day simple moving average is $84.39. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.86 and a quick ratio of 0.86.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Thursday, February 13th. The mining company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. Analysts predict that Agnico Eagle Mines will post 4.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AEM has been the topic of several recent research reports. Royal Bank of Canada increased their price objective on Agnico Eagle Mines from $96.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. TD Securities decreased their price target on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Scotiabank upped their price objective on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. Raymond James set a $105.00 target price on shares of Agnico Eagle Mines and gave the stock an “outperform” rating in a research report on Tuesday, February 4th. Finally, StockNews.com downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.78.

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.