Shares of Agnico Eagle Mines Limited (NYSE:AEM – Get Rating) (TSE:AEM) rose 4.6% during mid-day trading on Friday . The company traded as high as $50.43 and last traded at $50.37. Approximately 2,873,792 shares traded hands during mid-day trading, a decline of 5% from the average daily volume of 3,020,127 shares. The stock had previously closed at $48.17.
Wall Street Analysts Forecast Growth
AEM has been the topic of a number of analyst reports. TheStreet raised Agnico Eagle Mines from a “c+” rating to a “b-” rating in a research report on Wednesday, January 25th. National Bank Financial reduced their price target on Agnico Eagle Mines from C$89.00 to C$88.00 in a research report on Tuesday, February 14th. TD Securities reduced their price target on Agnico Eagle Mines from $68.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, February 17th. Raymond James increased their price target on Agnico Eagle Mines from $65.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, January 31st. Finally, StockNews.com initiated coverage on Agnico Eagle Mines in a research report on Thursday. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $70.50.
Agnico Eagle Mines Stock Up 5.5 %
The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.03 and a current ratio of 2.30. The firm has a market cap of $23.25 billion, a price-to-earnings ratio of 33.89, a price-to-earnings-growth ratio of 27.37 and a beta of 0.77. The firm has a 50-day moving average price of $51.12 and a two-hundred day moving average price of $47.90.
Agnico Eagle Mines Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend was Tuesday, February 28th. Agnico Eagle Mines’s dividend payout ratio (DPR) is 106.67%.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in AEM. Bank of New York Mellon Corp increased its position in Agnico Eagle Mines by 86.4% during the first quarter. Bank of New York Mellon Corp now owns 540,450 shares of the mining company’s stock worth $33,097,000 after buying an additional 250,445 shares during the period. US Bancorp DE increased its position in Agnico Eagle Mines by 108.6% during the first quarter. US Bancorp DE now owns 4,420 shares of the mining company’s stock worth $270,000 after buying an additional 2,301 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in Agnico Eagle Mines by 37.6% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,795 shares of the mining company’s stock worth $171,000 after buying an additional 764 shares during the period. Natixis Advisors L.P. purchased a new position in shares of Agnico Eagle Mines in the 1st quarter valued at approximately $678,000. Finally, BlackRock Inc. increased its holdings in shares of Agnico Eagle Mines by 44.0% in the first quarter. BlackRock Inc. now owns 364,215 shares of the mining company’s stock valued at $22,304,000 after purchasing an additional 111,208 shares during the period. Institutional investors and hedge funds own 58.11% of the company’s stock.
Agnico Eagle Mines Company Profile
Agnico Eagle Mines Ltd. engages in the exploration and production of gold. It operates through the following segments: Northern Business, Southern Business, and Exploration. The Northern Business segment comprises of LaRonde mine, LaRonde Zone 5 mine, Lapa mine, Goldex mine, Meadowbank mine including the Amaruq deposit, Canadian Malartic joint operation, Meliadine project and Kittila mine.
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