Agnico Eagle Mines Ltd Announces Quarterly Dividend of $0.11 (AEM)

Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) announced a quarterly dividend on Wednesday, February 14th, NASDAQ reports. Shareholders of record on Friday, November 30th will be paid a dividend of 0.11 per share by the mining company on Friday, December 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Thursday, November 29th.

Agnico Eagle Mines has raised its dividend payment by an average of 8.6% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. Agnico Eagle Mines has a dividend payout ratio of 151.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Agnico Eagle Mines to earn $0.64 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 68.8%.

Shares of AEM opened at $35.94 on Friday. Agnico Eagle Mines has a 52-week low of $32.18 and a 52-week high of $49.80. The firm has a market capitalization of $8.74 billion, a price-to-earnings ratio of 32.38 and a beta of -0.59. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.94 and a quick ratio of 1.88.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Wednesday, October 24th. The mining company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.06. Agnico Eagle Mines had a return on equity of 1.75% and a net margin of 4.60%. The business had revenue of $518.68 million during the quarter, compared to the consensus estimate of $497.68 million. During the same period last year, the company earned $0.22 EPS. The company’s revenue for the quarter was down 10.6% on a year-over-year basis. On average, sell-side analysts forecast that Agnico Eagle Mines will post 0.18 EPS for the current fiscal year.

A number of equities analysts have recently weighed in on the company. TheStreet cut Agnico Eagle Mines from a “b-” rating to a “c+” rating in a report on Wednesday, September 5th. TD Securities increased their price target on Agnico Eagle Mines from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, July 31st. Credit Suisse Group reiterated an “outperform” rating on shares of Agnico Eagle Mines in a report on Monday, September 10th. Canaccord Genuity reiterated a “buy” rating on shares of Agnico Eagle Mines in a report on Monday, October 22nd. Finally, Scotiabank set a $56.00 price target on Agnico Eagle Mines and gave the stock a “buy” rating in a report on Tuesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $54.25.

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Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.

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Dividend History for Agnico Eagle Mines (NYSE:AEM)

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