Agnico Eagle Mines (TSE:AEM) Posts Earnings Results

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) announced its quarterly earnings results on Thursday. The company reported C$4.33 EPS for the quarter, FiscalAI reports. Agnico Eagle Mines had a return on equity of 22.08% and a net margin of 39.48%.

Agnico Eagle Mines Stock Performance

AEM traded up C$5.98 during midday trading on Thursday, hitting C$209.11. 345,895 shares of the company were exchanged, compared to its average volume of 1,006,717. The company’s 50 day simple moving average is C$222.83 and its 200 day simple moving average is C$262.34. The firm has a market capitalization of C$104.56 billion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth ratio of 22.97 and a beta of 1.84. Agnico Eagle Mines has a 1-year low of C$170.89 and a 1-year high of C$348.94. The company has a current ratio of 3.15, a quick ratio of 0.89 and a debt-to-equity ratio of 1.21.

Agnico Eagle Mines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 15th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Monday, June 1st. Agnico Eagle Mines’s dividend payout ratio is presently 15.54%.

Analysts Set New Price Targets

AEM has been the topic of a number of research reports. Jefferies Financial Group raised shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. BMO Capital Markets increased their price objective on shares of Agnico Eagle Mines from C$350.00 to C$370.00 in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. cut their price objective on shares of Agnico Eagle Mines from C$321.00 to C$300.00 in a report on Thursday, April 23rd. National Bank Financial reduced their price objective on shares of Agnico Eagle Mines from C$350.00 to C$275.00 and set an “outperform” rating for the company in a research note on Tuesday, July 14th. Finally, Stifel Nicolaus dropped their target price on Agnico Eagle Mines from C$350.00 to C$310.00 in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$295.33.

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.