Agnico Eagle Mines Limited (AEM) To Go Ex-Dividend on February 28th

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) declared a quarterly dividend on Thursday, February 13th,Wall Street Journal reports. Shareholders 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 1.67%. 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 dividend payout ratio of 29.9% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NYSE:AEM opened at $95.75 on Friday. The business has a fifty day simple moving average of $86.51 and a 200-day simple moving average of $83.16. Agnico Eagle Mines has a 52 week low of $45.75 and a 52 week high of $101.45. The company has a market cap of $48.15 billion, a P/E ratio of 47.87, a P/E/G ratio of 0.66 and a beta of 1.10. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted 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 forecast that Agnico Eagle Mines will post 4.14 EPS for the current year.

Analysts Set New Price Targets

AEM has been the topic of a number of research analyst reports. Jefferies Financial Group lifted their price target on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a report on Tuesday, January 7th. Scotiabank boosted their price target on Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada upped their price target on Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and an average 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.