Agnico Eagle Mines Ltd. (NYSE:AEM) released its quarterly earnings results on Wednesday. The mining company reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.05. The business earned $610.86 million during the quarter, compared to the consensus estimate of $555.47 million. Agnico Eagle Mines had a return on equity of 1.88% and a net margin of 1.61%. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.02 EPS.

Agnico Eagle Mines (NYSE:AEM) traded down 2.40% during mid-day trading on Wednesday, reaching $48.40. The company had a trading volume of 2,054,978 shares. Agnico Eagle Mines has a 52 week low of $24.80 and a 52 week high of $60.10. The stock has a 50 day moving average of $50.62 and a 200 day moving average of $50.48. The stock has a market capitalization of $10.82 billion, a price-to-earnings ratio of 333.79 and a beta of -0.84.

Earnings History for Agnico Eagle Mines (NYSE:AEM)

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.83%. Agnico Eagle Mines’s payout ratio is presently 213.35%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its position in shares of Agnico Eagle Mines by 17.9% in the second quarter. FMR LLC now owns 10,795,569 shares of the mining company’s stock valued at $577,736,000 after buying an additional 1,636,800 shares in the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Agnico Eagle Mines during the second quarter valued at approximately $27,716,000. Massachusetts Financial Services Co. MA raised its stake in shares of Agnico Eagle Mines by 15.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,188,017 shares of the mining company’s stock valued at $117,059,000 after buying an additional 293,745 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Agnico Eagle Mines by 34.8% in the second quarter. American Century Companies Inc. now owns 873,215 shares of the mining company’s stock valued at $46,724,000 after buying an additional 225,299 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Agnico Eagle Mines by 8.1% in the second quarter. AQR Capital Management LLC now owns 1,434,704 shares of the mining company’s stock valued at $76,382,000 after buying an additional 108,071 shares during the last quarter. Institutional investors own 62.18% of the company’s stock.

A number of research firms have issued reports on AEM. Royal Bank Of Canada downgraded Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and set a $67.00 price target for the company. in a research note on Monday, August 8th. Zacks Investment Research downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Wednesday, September 7th. Desjardins upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Wednesday, July 13th. BMO Capital Markets restated a “hold” rating and set a $55.00 price target on shares of Agnico Eagle Mines in a research note on Thursday, July 28th. Finally, Raymond James Financial Inc. upgraded Agnico Eagle Mines from a “market perform” rating to an “outperform” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $53.05.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited is a gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut and exploration activities in Canada, Europe, Latin America and the United States. The Company operates through three business units. The Northern Business consists of its operations in Canada and Finland.

5 Day Chart for NYSE:AEM

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