Agnico Eagle Mines Limited (AEM) to Issue Quarterly Dividend of $0.40 on March 14th

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

Shares of Agnico Eagle Mines stock opened at $97.04 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.86 and a quick ratio of 0.86. The firm has a market cap of $48.80 billion, a price-to-earnings ratio of 25.67, a price-to-earnings-growth ratio of 0.66 and a beta of 1.10. Agnico Eagle Mines has a one year low of $47.73 and a one year high of $101.45. The stock’s 50-day moving average is $88.31 and its 200-day moving average is $84.39.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on AEM. Jefferies Financial Group lifted their price objective on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Tuesday, January 7th. TD Securities reduced their price objective on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Royal Bank of Canada increased their price objective on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. StockNews.com downgraded Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, Raymond James set a $105.00 price target on Agnico Eagle Mines and gave the company an “outperform” rating in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.