Agnico Eagle Mines Limited (NYSE:AEM) Receives Consensus Recommendation of "Buy" from Brokerages

Agnico Eagle Mines Limited (NYSE:AEM - Get Free Report) TSE: AEM has received a consensus recommendation of "Buy" from the eleven ratings firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $124.40.

AEM has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their price objective on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a "hold" rating in a research report on Tuesday, January 7th. Scotiabank reiterated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Monday, April 14th. National Bank Financial raised Agnico Eagle Mines to a "strong-buy" rating in a report on Friday, March 21st. Stifel Canada upgraded Agnico Eagle Mines to a "strong-buy" rating in a research report on Wednesday, March 19th. Finally, Raymond James boosted their price target on shares of Agnico Eagle Mines from $105.00 to $130.00 and gave the company an "outperform" rating in a research report on Friday, April 4th.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM traded up $1.72 during midday trading on Friday, hitting $119.96. The stock had a trading volume of 1,327,162 shares, compared to its average volume of 2,442,817. Agnico Eagle Mines has a fifty-two week low of $62.55 and a fifty-two week high of $126.76. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06. The company's 50-day moving average price is $105.18 and its 200-day moving average price is $91.92. The company has a market capitalization of $60.37 billion, a P/E ratio of 31.67, a price-to-earnings-growth ratio of 0.66 and a beta of 0.87.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its earnings results on Thursday, February 13th. The mining company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. As a group, equities research analysts predict that Agnico Eagle Mines will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Friday, February 28th. Agnico Eagle Mines's payout ratio is 42.33%.

Institutional Investors Weigh In On Agnico Eagle Mines

Institutional investors and hedge funds have recently bought and sold shares of the company. MML Investors Services LLC bought a new position in shares of Agnico Eagle Mines during the 3rd quarter worth approximately $252,000. Te Ahumairangi Investment Management Ltd increased its stake in Agnico Eagle Mines by 1.7% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 63,461 shares of the mining company's stock valued at $5,089,000 after purchasing an additional 1,047 shares in the last quarter. World Investment Advisors LLC acquired a new position in shares of Agnico Eagle Mines in the 3rd quarter valued at $359,000. Wilmington Savings Fund Society FSB acquired a new position in Agnico Eagle Mines in the 3rd quarter worth approximately $1,818,000. Finally, Lord Abbett & CO. LLC increased its stake in shares of Agnico Eagle Mines by 22.3% in the third quarter. Lord Abbett & CO. LLC now owns 431,200 shares of the mining company's stock worth $34,736,000 after acquiring an additional 78,700 shares during the period. 68.34% of the stock is owned by institutional investors.

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.