Agnico Eagle Mines Limited Forecasted to Earn FY2017 Earnings of $1.36 Per Share (AEM)
Agnico Eagle Mines Limited (TSE:AEM) (NYSE:AEM) – Analysts at Desjardins issued their FY2017 EPS estimates for shares of Agnico Eagle Mines in a research report issued on Monday. Desjardins analyst J. Wolfson forecasts that the company will post earnings per share of $1.36 for the year. Desjardins has a “Buy” rating and a $60.00 price target on the stock. Desjardins also issued estimates for Agnico Eagle Mines’ FY2018 earnings at $1.06 EPS, FY2019 earnings at $1.41 EPS and FY2021 earnings at $1.92 EPS.
A number of other brokerages have also commented on AEM. Royal Bank of Canada reiterated a “sector perform” rating on shares of Agnico Eagle Mines in a research report on Monday, September 11th. Eight Capital restated a “neutral” rating on shares of Agnico Eagle Mines in a research report on Thursday, November 16th. Finally, Canaccord Genuity raised their price target on Agnico Eagle Mines from C$73.00 to C$76.00 in a research report on Friday, September 29th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of C$65.25.
In other Agnico Eagle Mines news, Director Deborah Mccombe bought 500 shares of Agnico Eagle Mines stock in a transaction on Tuesday, September 19th. The shares were purchased at an average cost of C$58.24 per share, for a total transaction of C$29,120.00.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.137 per share. The ex-dividend date is Thursday, November 30th. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.10. This represents a $0.55 annualized dividend and a yield of 1.02%. Agnico Eagle Mines’s payout ratio is currently 26.67%.
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About Agnico Eagle Mines
Agnico Eagle Mines Ltd is a Canada-based gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut, as well as exploration activities in Canada, Europe, Latin America and the United States. It operates through the business units: Northern Business, which consists of its operations in Canada and Finland, such as the LaRonde mine, the Lapa mine, the Goldex mine, the Meadowbank mine, the Meliadine project and the Malartic Mine in Canada, as well as the Kittila mine in Finland; Southern Business, which consists of its operations in Mexico, such as the Pinos Altos mine that includes the Creston Mascota deposit and the La India mine owned by its indirect subsidiary, as well as Exploration Group, which focuses on the identification of new mineral reserves and mineral resources, and new development opportunities in gold producing regions.
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