Agnico Eagle Mines (TSE:AEM) Reaches New 1-Year High – Here’s What Happened

by · The Markets Daily

Agnico Eagle Mines Limited (TSE:AEM – Get Free Report) (NYSE:AEM)’s stock price reached a new 52-week high on Thursday . The stock traded as high as C$279.89 and last traded at C$280.22, with a volume of 445347 shares trading hands. The stock had previously closed at C$273.74.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Stifel Nicolaus lifted their target price on Agnico Eagle Mines from C$195.00 to C$300.00 in a research note on Monday, October 20th. Royal Bank Of Canada downgraded shares of Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Finally, National Bankshares upped their price objective on shares of Agnico Eagle Mines from C$285.00 to C$300.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. Five analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Agnico Eagle Mines has a consensus rating of “Buy” and a consensus price target of C$235.00.

View Our Latest Analysis on AEM

Agnico Eagle Mines Trading Down 1.4%

The company has a 50 day moving average of C$241.74 and a 200 day moving average of C$215.68. The firm has a market cap of C$137.93 billion, a P/E ratio of 40.17, a PEG ratio of 22.97 and a beta of 1.42. The company has a debt-to-equity ratio of 7.88, a quick ratio of 0.89 and a current ratio of 1.75.

Agnico Eagle Mines (TSE:AEM – Get Free Report) (NYSE:AEM) last issued its quarterly earnings data on Wednesday, October 29th. The company reported C$3.01 earnings per share for the quarter. The firm had revenue of C$4.26 billion for the quarter. Agnico Eagle Mines had a net margin of 12.86% and a return on equity of 5.05%. Analysts predict that Agnico Eagle Mines Limited will post 5.4966052 EPS for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 15th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, December 1st. Agnico Eagle Mines’s payout ratio is presently 23.39%.

Insider Buying and Selling

In other Agnico Eagle Mines news, insider Ammar Al-Joundi sold 20,000 shares of the stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of C$243.40, for a total transaction of C$4,868,000.00. Following the transaction, the insider directly owned 54,917 shares of the company’s stock, valued at C$13,366,797.80. This represents a 26.70% decrease in their ownership of the stock. 0.08% of the stock is owned by insiders.

Agnico Eagle Mines Company Profile

(Get Free Report)

Agnico Eagle Mines is a gold miner operating mines in Canada, Mexico, and Finland. It also owns 50% of the Canadian Malartic mine. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines on line in rapid succession in the following years. The company produced more than 1.7 million gold ounces in 2020. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions.

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