Agnico Eagle Mines (TSE:AEM) Posts Earnings Results, Beats Expectations By $0.21 EPS

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) announced its earnings results on Wednesday. The company reported C$1.56 earnings per share for the quarter, beating the consensus estimate of C$1.35 by C$0.21, reports. Agnico Eagle Mines had a net margin of 8.49% and a return on equity of 3.10%. The firm had revenue of C$2.94 billion during the quarter, compared to the consensus estimate of C$2.50 billion.

Agnico Eagle Mines Price Performance

AEM stock opened at C$119.75 on Friday. The firm has a market cap of C$60.00 billion, a P/E ratio of 74.84, a price-to-earnings-growth ratio of 22.97 and a beta of 1.10. The stock has a 50-day simple moving average of C$111.92 and a 200-day simple moving average of C$99.99. Agnico Eagle Mines has a 1 year low of C$60.17 and a 1 year high of C$123.86. The company has a debt-to-equity ratio of 9.94, a quick ratio of 0.89 and a current ratio of 1.51.

Agnico Eagle Mines Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 16th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 1.34%. Agnico Eagle Mines’s dividend payout ratio is currently 135.63%.

Insider Transactions at Agnico Eagle Mines

In other news, Senior Officer Dominique Girard sold 20,000 shares of Agnico Eagle Mines stock in a transaction dated Friday, September 13th. The stock was sold at an average price of C$113.49, for a total transaction of C$2,269,800.00. In related news, Senior Officer Jean Robitaille sold 15,000 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of C$113.42, for a total transaction of C$1,701,300.00. Also, Senior Officer Dominique Girard sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of C$113.49, for a total value of C$2,269,800.00. Over the last three months, insiders have sold 115,000 shares of company stock valued at $12,518,150. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AEM. Eight Capital boosted their price objective on shares of Agnico Eagle Mines from C$105.00 to C$115.00 in a research report on Thursday, July 11th. Stifel Nicolaus boosted their price target on Agnico Eagle Mines from C$114.00 to C$140.00 in a report on Monday, October 21st. UBS Group upgraded Agnico Eagle Mines to a “strong-buy” rating in a report on Tuesday, September 17th. National Bankshares upped their target price on Agnico Eagle Mines from C$143.00 to C$144.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Canaccord Genuity Group raised their price target on Agnico Eagle Mines from C$105.00 to C$118.00 in a research note on Tuesday, July 23rd. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of C$116.00.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.