Agnico Eagle Mines Limited (AEM) to Issue Quarterly Dividend of $0.45 on June 15th

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) announced a quarterly dividend on Thursday, February 12th. Shareholders of record on Monday, June 1st will be paid a dividend of 0.45 per share by the mining company on Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Monday, June 1st.

Agnico Eagle Mines has decreased its dividend by an average of 0.0%annually over the last three years. Agnico Eagle Mines has a payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Agnico Eagle Mines to earn $13.39 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 13.4%.

Agnico Eagle Mines Price Performance

AEM stock opened at $183.56 on Friday. The company’s 50-day moving average price is $195.01 and its two-hundred day moving average price is $194.38. The firm has a market cap of $91.87 billion, a P/E ratio of 17.25, a P/E/G ratio of 3.88 and a beta of 0.58. The company has a quick ratio of 2.18, a current ratio of 3.15 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines has a 12 month low of $114.60 and a 12 month high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.21. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.96 billion. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The firm’s quarterly revenue was up 66.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.53 EPS. On average, analysts anticipate that Agnico Eagle Mines will post 13.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AEM shares. Scotiabank restated an “outperform” rating and set a $280.00 target price on shares of Agnico Eagle Mines in a research note on Tuesday, February 17th. TD Securities lifted their price target on Agnico Eagle Mines from $241.00 to $251.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Canadian Imperial Bank of Commerce boosted their price target on Agnico Eagle Mines from C$304.00 to C$310.00 and gave the stock an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. upped their price objective on Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Finally, Zacks Research lowered Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Agnico Eagle Mines has an average rating of “Moderate Buy” and a consensus price target of $236.08.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.