Raymond James Reaffirms “Outperform” Rating for Agnico Eagle Mines (NYSE:AEM)

Raymond James reiterated their outperform rating on shares of Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) in a report published on Tuesday morning, BayStreet.CA reports. They currently have a $64.00 target price on the mining company’s stock. Raymond James also issued estimates for Agnico Eagle Mines’ Q1 2020 earnings at $0.15 EPS, Q2 2020 earnings at $0.29 EPS, Q3 2020 earnings at $0.24 EPS, Q4 2020 earnings at $0.33 EPS, FY2020 earnings at $1.00 EPS and FY2021 earnings at $1.61 EPS.

A number of other research firms have also commented on AEM. Cfra reduced their price target on shares of Agnico Eagle Mines from $99.00 to $90.00 and set a strong-buy rating on the stock in a research report on Friday, February 14th. Canaccord Genuity downgraded shares of Agnico Eagle Mines from a buy rating to a hold rating in a research note on Friday, February 14th. TD Securities downgraded shares of Agnico Eagle Mines from a buy rating to a hold rating and dropped their target price for the stock from $74.00 to $63.00 in a research note on Friday, February 14th. Barclays raised shares of Agnico Eagle Mines from an equal weight rating to an overweight rating and set a $92.62 target price for the company in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada reaffirmed a hold rating and issued a $61.00 target price on shares of Agnico Eagle Mines in a research note on Sunday, February 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $73.13.

NYSE:AEM traded up $0.31 on Tuesday, reaching $51.70. The stock had a trading volume of 212,522 shares, compared to its average volume of 1,735,947. The company has a market capitalization of $12.51 billion, a P/E ratio of 26.07, a price-to-earnings-growth ratio of 33.18 and a beta of -0.35. Agnico Eagle Mines has a 1-year low of $39.66 and a 1-year high of $64.88. The company has a quick ratio of 0.70, a current ratio of 1.42 and a debt-to-equity ratio of 0.30. The stock has a fifty day moving average price of $58.79 and a 200-day moving average price of $58.56.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Thursday, February 13th. The mining company reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.02. The firm had revenue of $753.10 million for the quarter, compared to analyst estimates of $757.48 million. Agnico Eagle Mines had a net margin of 18.97% and a return on equity of 4.92%. The company’s revenue for the quarter was up 40.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 earnings per share. Sell-side analysts predict that Agnico Eagle Mines will post 1.5 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 28th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, February 27th. This represents a $0.80 dividend on an annualized basis and a yield of 1.55%. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.18. Agnico Eagle Mines’s payout ratio is currently 72.16%.

A number of hedge funds and other institutional investors have recently modified their holdings of AEM. Massachusetts Financial Services Co. MA increased its holdings in shares of Agnico Eagle Mines by 263.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,471,638 shares of the mining company’s stock valued at $460,328,000 after acquiring an additional 5,418,677 shares in the last quarter. Findlay Park Partners LLP boosted its position in shares of Agnico Eagle Mines by 84.1% during the third quarter. Findlay Park Partners LLP now owns 5,410,171 shares of the mining company’s stock valued at $290,039,000 after buying an additional 2,471,771 shares during the last quarter. FMR LLC boosted its position in shares of Agnico Eagle Mines by 42.1% during the fourth quarter. FMR LLC now owns 4,545,886 shares of the mining company’s stock valued at $279,990,000 after buying an additional 1,346,759 shares during the last quarter. National Pension Service purchased a new stake in shares of Agnico Eagle Mines during the fourth quarter valued at $33,000,000. Finally, Alberta Investment Management Corp boosted its position in shares of Agnico Eagle Mines by 31.9% during the fourth quarter. Alberta Investment Management Corp now owns 969,500 shares of the mining company’s stock valued at $59,796,000 after buying an additional 234,400 shares during the last quarter. Hedge funds and other institutional investors own 59.36% of the company’s stock.

About Agnico Eagle Mines

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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Analyst Recommendations for Agnico Eagle Mines (NYSE:AEM)

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