Agnico Eagle Mines Ltd (NYSE:AEM) to Issue Dividend Increase – $0.20 Per Share
Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) declared a quarterly dividend on Thursday, February 13th, RTT News reports. Investors of record on Friday, February 28th will be paid a dividend of 0.20 per share by the mining company on Monday, March 16th. This represents a $0.80 annualized dividend and a dividend yield of 1.55%. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.18.
Agnico Eagle Mines has raised its dividend by an average of 19.5% annually over the last three years and has raised its dividend annually for the last 8 consecutive years. Agnico Eagle Mines has a dividend payout ratio of 38.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Agnico Eagle Mines to earn $1.79 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 39.1%.
Shares of Agnico Eagle Mines stock traded down $7.37 during trading on Friday, hitting $51.74. The company’s stock had a trading volume of 2,448,180 shares, compared to its average volume of 1,354,037. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.70 and a current ratio of 1.42. The company has a fifty day simple moving average of $60.41 and a two-hundred day simple moving average of $58.70. The company has a market capitalization of $14.20 billion, a PE ratio of -47.91, a P/E/G ratio of 33.01 and a beta of -0.35. Agnico Eagle Mines has a 52 week low of $39.66 and a 52 week high of $64.88.
AEM has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating and set a $63.00 price objective on the stock in a research report on Wednesday. Barclays raised shares of Agnico Eagle Mines from an “equal weight” rating to an “overweight” rating and set a $92.62 price objective on the stock in a research report on Wednesday, December 11th. TD Securities downgraded shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Friday. National Bank Financial increased their price objective on shares of Agnico Eagle Mines from $100.00 to $102.00 and gave the company an “outperform” rating in a research report on Sunday, October 27th. Finally, ValuEngine downgraded shares of Agnico Eagle Mines from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $74.74.
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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