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

Agnico Eagle Mines Limited (NYSE:AEM - Get Free Report) TSE: AEM announced a quarterly dividend on Thursday, February 13th,Wall Street Journal reports. Investors 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 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Friday, February 28th.

Agnico Eagle Mines has raised its dividend payment by an average of 4.6% annually over the last three years. Agnico Eagle Mines has a payout ratio of 29.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Agnico Eagle Mines to earn $4.75 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 33.7%.

Agnico Eagle Mines Trading Up 0.8 %

NYSE:AEM traded up $0.80 on Tuesday, hitting $96.65. The stock had a trading volume of 1,039,746 shares, compared to its average volume of 2,051,468. The company has a fifty day moving average price of $86.73 and a two-hundred day moving average price of $83.40. Agnico Eagle Mines has a 1-year low of $47.73 and a 1-year high of $101.45. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock has a market cap of $48.54 billion, a price-to-earnings ratio of 48.32, a PEG ratio of 0.66 and a beta of 1.10.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings data on Thursday, February 13th. The mining company reported $1.26 EPS for the quarter, missing analysts' consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 12.86% and a return on equity of 8.88%. Equities research analysts expect that Agnico Eagle Mines will post 4.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Scotiabank raised their price objective on Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, January 21st. Royal Bank of Canada increased their target price on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 11th. Jefferies Financial Group boosted their price target on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a "hold" rating in a research note on Tuesday, January 7th. Finally, StockNews.com raised shares of Agnico Eagle Mines from a "buy" rating to a "strong-buy" rating in a research report on Monday. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $92.75.

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.