Desjardins reaffirmed their buy rating on shares of Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) in a research note released on Monday morning. They currently have a C$60.00 target price on the stock. Desjardins also issued estimates for Agnico Eagle Mines’ Q4 2017 earnings at $0.32 EPS, FY2017 earnings at $1.36 EPS, Q1 2018 earnings at $0.23 EPS, Q2 2018 earnings at $0.27 EPS, Q3 2018 earnings at $0.24 EPS, Q4 2018 earnings at $0.32 EPS, FY2018 earnings at $1.06 EPS, Q1 2019 earnings at $0.30 EPS, Q2 2019 earnings at $0.30 EPS, Q3 2019 earnings at $0.31 EPS, FY2019 earnings at $1.41 EPS, FY2020 earnings at $1.97 EPS and FY2021 earnings at $1.92 EPS.
Several other equities analysts have also recently issued reports on the company. Eight Capital reaffirmed a neutral rating on shares of Agnico Eagle Mines in a research report on Thursday, November 16th. Royal Bank of Canada reaffirmed a sector perform rating on shares of Agnico Eagle Mines in a research report on Monday, September 11th. Finally, Canaccord Genuity upped their price objective on Agnico Eagle Mines from C$77.00 to C$78.00 and gave the company a buy rating in a research report on Thursday, October 26th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of C$65.25.
Shares of Agnico Eagle Mines (TSE:AEM) opened at C$54.65 on Monday. Agnico Eagle Mines has a 12-month low of C$46.91 and a 12-month high of C$68.76.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid 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 dividend on an annualized basis and a yield of 1.00%. Agnico Eagle Mines’s payout ratio is currently 26.67%.
In related news, Director Deborah Mccombe acquired 500 shares of Agnico Eagle Mines stock in a transaction dated Tuesday, September 19th. The stock was purchased at an average cost of C$58.24 per share, for a total transaction of C$29,120.00.
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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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