Agnico Eagle Mines (TSE:AEM) Releases Earnings Results, Beats Estimates By $0.21 EPS

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) released its quarterly earnings results on Wednesday. The company reported C$1.56 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.35 by C$0.21, reports. The firm had revenue of C$2.94 billion during the quarter, compared to analysts’ expectations of C$2.50 billion. Agnico Eagle Mines had a return on equity of 3.10% and a net margin of 8.49%.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at C$119.75 on Friday. The stock’s fifty day simple moving average is C$111.92 and its 200 day simple moving average is C$99.99. The company has a current ratio of 1.51, a quick ratio of 0.89 and a debt-to-equity ratio of 9.94. The company has a market capitalization of C$60.00 billion, a PE ratio of 74.84, a PEG ratio of 22.97 and a beta of 1.10. Agnico Eagle Mines has a 12 month low of C$60.17 and a 12 month high of C$123.86.

Agnico Eagle Mines Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 16th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.34%. Agnico Eagle Mines’s dividend payout ratio is 135.63%.

Analysts Set New Price Targets

Several research firms recently weighed in on AEM. UBS Group upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Tuesday, September 17th. National Bankshares boosted their target price on Agnico Eagle Mines from C$143.00 to C$144.00 and gave the stock an “outperform” rating in a research report on Friday. Eight Capital raised their price target on Agnico Eagle Mines from C$105.00 to C$115.00 in a report on Thursday, July 11th. Canaccord Genuity Group lifted their price objective on Agnico Eagle Mines from C$105.00 to C$118.00 in a research report on Tuesday, July 23rd. Finally, Stifel Nicolaus upped their target price on shares of Agnico Eagle Mines from C$114.00 to C$140.00 in a research report on Monday, October 21st. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of “Buy” and an average target price of C$116.00.

Insider Buying and Selling at Agnico Eagle Mines

In other news, Senior Officer Dominique Girard sold 20,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of C$113.49, for a total transaction of C$2,269,800.00. In related news, Senior Officer Jean Robitaille sold 15,000 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of C$113.42, for a total value of C$1,701,300.00. Also, Senior Officer Dominique Girard sold 20,000 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of C$113.49, for a total value of C$2,269,800.00. Over the last ninety days, insiders sold 115,000 shares of company stock valued at $12,518,150. Company insiders own 0.08% of the company’s stock.

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.