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

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) declared a quarterly dividend on Monday, April 29th, Wall Street Journal reports. Stockholders of record on Friday, May 31st will be given a dividend of 0.40 per share by the mining company on Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Friday, May 31st.

Agnico Eagle Mines has raised its dividend by an average of 19.0% per year over the last three years. Agnico Eagle Mines has a payout ratio of 54.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Agnico Eagle Mines to earn $3.05 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 52.5%.

Agnico Eagle Mines Stock Up 0.5 %

Shares of NYSE:AEM opened at $65.82 on Tuesday. The stock has a 50-day simple moving average of $57.26 and a 200-day simple moving average of $52.80. The stock has a market capitalization of $32.82 billion, a P/E ratio of 69.28, a PEG ratio of 0.89 and a beta of 1.06. Agnico Eagle Mines has a 1 year low of $43.22 and a 1 year high of $67.80. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 2.21.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, April 25th. The mining company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.16. Agnico Eagle Mines had a net margin of 6.79% and a return on equity of 6.09%. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the previous year, the firm earned $0.57 earnings per share. Agnico Eagle Mines’s revenue for the quarter was up 21.2% on a year-over-year basis. Equities analysts forecast that Agnico Eagle Mines will post 2.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

AEM has been the subject of several recent research reports. Raymond James increased their price objective on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the company an “outperform” rating in a research report on Friday, January 12th. TD Securities dropped their target price on Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. National Bank Financial reiterated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. Jefferies Financial Group raised their price objective on Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. Finally, CIBC dropped their price objective on Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $64.14.

About Agnico Eagle Mines

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.