Agnico Eagle Mines (NYSE:AEM) Stock Price Up 3.5%

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM)’s share price was up 3.5% on Tuesday . The company traded as high as $50.34 and last traded at $50.29. Approximately 362,048 shares changed hands during trading, a decline of 86% from the average daily volume of 2,639,763 shares. The stock had previously closed at $48.59.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. TD Securities raised their target price on Agnico Eagle Mines from $69.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. StockNews.com initiated coverage on Agnico Eagle Mines in a report on Thursday, October 5th. They set a “hold” rating for the company. Barclays upped their price objective on shares of Agnico Eagle Mines from $61.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, July 27th. BMO Capital Markets boosted their price target on shares of Agnico Eagle Mines from $64.00 to $67.00 in a report on Thursday, July 27th. Finally, CSFB upped their price objective on Agnico Eagle Mines from $60.00 to $61.00 and gave the company an “outperform” rating in a research note on Thursday, August 17th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $71.00.

Agnico Eagle Mines Stock Up 2.9 %

The company has a quick ratio of 0.71, a current ratio of 1.99 and a debt-to-equity ratio of 0.10. The stock has a 50-day simple moving average of $47.69 and a two-hundred day simple moving average of $49.64. The firm has a market cap of $24.82 billion, a PE ratio of 9.23, a P/E/G ratio of 22.50 and a beta of 0.88.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Thursday, October 26th. The mining company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. Agnico Eagle Mines had a return on equity of 5.26% and a net margin of 40.40%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. Agnico Eagle Mines’s revenue for the quarter was up 13.3% on a year-over-year basis. Analysts expect that Agnico Eagle Mines Limited will post 2.13 earnings per share for the current year.

Agnico Eagle Mines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.20%. Agnico Eagle Mines’s dividend payout ratio (DPR) is currently 30.02%.

Hedge Funds Weigh In On Agnico Eagle Mines

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ossiam raised its holdings in Agnico Eagle Mines by 20.8% during the 1st quarter. Ossiam now owns 71,270 shares of the mining company’s stock valued at $3,628,000 after buying an additional 12,251 shares during the last quarter. Cerity Partners LLC grew its position in shares of Agnico Eagle Mines by 14.8% in the 1st quarter. Cerity Partners LLC now owns 9,319 shares of the mining company’s stock worth $475,000 after buying an additional 1,201 shares during the last quarter. Metis Global Partners LLC increased its stake in shares of Agnico Eagle Mines by 37.6% during the first quarter. Metis Global Partners LLC now owns 23,526 shares of the mining company’s stock valued at $1,199,000 after buying an additional 6,430 shares during the period. Mint Tower Capital Management B.V. purchased a new position in shares of Agnico Eagle Mines during the first quarter valued at approximately $459,000. Finally, Prelude Capital Management LLC purchased a new stake in Agnico Eagle Mines in the first quarter worth $585,000. 59.37% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. 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.