Agnico Eagle Mines Limited (TSE:AEM) Given Average Rating of “Moderate Buy” by Brokerages

Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) has earned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is C$295.33.

Several equities research analysts have commented on the company. National Bank Financial cut their price objective on 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. Stifel Nicolaus decreased their target price on Agnico Eagle Mines from C$350.00 to C$310.00 in a research report on Friday, July 17th. JPMorgan Chase & Co. lowered their price target on Agnico Eagle Mines from C$321.00 to C$300.00 in a research note on Thursday, April 23rd. ATB Cormark Capital Markets upgraded Agnico Eagle Mines from a “sector” rating to an “outperform” rating in a research report on Monday, May 4th. Finally, Barclays reduced their price objective on Agnico Eagle Mines from C$298.00 to C$266.00 in a research note on Thursday, July 16th.

Insider Activity

In other news, Director John Merfyn Roberts sold 1,000 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of C$244.66, for a total value of C$244,660.00. Following the completion of the sale, the director directly owned 17,682 shares in the company, valued at C$4,326,078.12. This represents a 5.35% decrease in their ownership of the stock. 0.08% of the stock is owned by insiders.

Agnico Eagle Mines Stock Up 1.8%

AEM stock opened at C$292.11 on Friday. Agnico Eagle Mines has a 52 week low of C$186.61 and a 52 week high of C$348.94. The company has a quick ratio of 0.89, a current ratio of 2.86 and a debt-to-equity ratio of 1.12. The firm has a 50-day simple moving average of C$224.86 and a 200-day simple moving average of C$258.09. The stock has a market capitalization of C$146.34 billion, a P/E ratio of 25.01, a P/E/G ratio of 22.97 and a beta of 1.83.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last issued its quarterly earnings results on Wednesday, July 29th. The company reported C$4.33 earnings per share for the quarter. Agnico Eagle Mines had a net margin of 40.45% and a return on equity of 22.69%. The firm had revenue of C$5.53 billion for the quarter. Equities analysts forecast that Agnico Eagle Mines will post 5.4966052 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 15th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.6%. Agnico Eagle Mines’s dividend payout ratio is presently 14.55%.

About Agnico Eagle Mines

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.